(1)  A legal or equitable interest in or affecting any mineral tenement is of no effect unless –

(a) it is created or dealt with by a written instrument; and

(b) the written instrument is approved by the Minister; and

(c) the interest is in favour of –

(i) any person 18 years of age or more; or

(ii) a body corporate; or

(iii) a combination of such a person and a body corporate.

(2)  A person may apply to the Minister for approval of a written instrument referred to in subsection (1) .

(3)  An application is to –

(a) be in an approved form; and

(b) be accompanied by the prescribed fee; and

(c) contain any information the Minister requires; and

(d) be lodged with the Registrar.

(4)  The Minister may –

(a) grant the application subject to any condition the Minister considers appropriate; or

(b) refuse to grant the application.

(5)  The Minister, by notice in writing, must notify the applicant of –

(a) the grant of the application; or

(b) the refusal to grant the application and the reason for the refusal.