MINING ACT 1992 - SECT 261E Security deposit can be taken to be provided for consolidated mining lease or multiple authorisations

MINING ACT 1992 - SECT 261E

261E Security deposit can be taken to be provided for consolidated mining lease or multiple authorisations

(1) A security deposit is taken to have been provided under a security deposit condition of a consolidated mining lease if--

(a) a security deposit was provided in compliance with the conditions of one or more of the leases that were consolidated, and

(b) the Minister notifies the holder of the consolidated mining lease that, because of the provision of the security deposit referred to in paragraph (a), a security deposit is taken to have been provided under the consolidated mining lease.

(2) A security deposit is taken to have been provided under a security deposit condition of an authorisation (
"the first authorisation" ) held by a person if--

(a) a security deposit was provided in compliance with the conditions of one or more other authorisations held by that person, and

(b) the Minister notifies that person that, because of the provision of the security deposit referred to in paragraph (a), a security deposit is taken to have been provided under the first authorisation.