Northern Territory Consolidated Acts Northern Territory Consolidated Acts48. Surrender
(1) Subject to this Part and the relevant Authorisation, a licensee may, at any time, having complied with all the conditions to which the licence is subject, surrender an exploration retention licence or part of the licence area by lodging with the Department a written notice indicating the licence or the area, as the case may be, to be surrendered.
(2) A surrender under subsection (1) is effective on and from the day on which the notice referred to in that subsection is lodged in accordance with that subsection.