OFFSHORE MINERALS ACT 1994 - SECT 89 Term of renewal of exploration licence

OFFSHORE MINERALS ACT 1994 - SECT 89

  (1)   A renewal of an exploration licence comes into force on:

  (a)   the day on which the renewal is registered; or

  (b)   the day on which the previous term of the licence expires;

whichever is the later.

Note:   See Division   6 for renewal.

  (2)   The term of a renewal of a licence ends 2 years after the day on which the previous term of the licence expires.

Note:   The licence may be surrendered at any time (see section   127).

  (3)   Ignore section   90 in working out the period of 2 years referred to in subsection   ( 2).

  (4)   An exploration licence is not to be renewed more than 3 times.