(1)  The Minister may only grant an application for a licence if the Minister is satisfied that the applicant –

(a) intends to do work for the purposes of the licence; and

(b) intends to comply with this Act; and

(c) has an appropriate program of work; and

(d) has provided sufficient information relating to the likely impact on the environment of activities under the licence; and

(da) has provided a copy of the applicant's current public liability insurance policy; and

(e) has provided a security deposit.

(2)  The Minister may only grant an application for a licence if the Minister is satisfied that the applicant –

(a) has –

(i) sufficient technical and financial resources; or

(ii) obtained an agreement, contract, or other arrangement, with another person to ensure the provision of sufficient technical and financial resources –

to enable the carrying out of the program of work in relation to the application for the first 2 years after the application is granted; and

(b) is likely to have sufficient technical and financial resources to enable the carrying out of the program of work for the remainder of the period of the licence after the first 2 years after the application is granted.

(3)  The Minister may refuse to grant an application for a licence by an applicant if the Minister is of the opinion that the application ought to be refused because –

(a) of significant, or repeated, breaches of this Act or the regulations by –

(i) the applicant; or

(ii) a person, authorised or employed by the applicant, who committed the breach, or breaches, in relation to activities under a licence of any kind, or a lease, of the applicant; or

(b) the applicant has failed to comply with the conditions subject to which an application under this Act by the applicant for a licence of any kind, or a lease, was granted; or

(c) the applicant has failed to substantially carry out as much of a work program, development plan, field development plan, or mining plan, in relation to a licence of any kind, or a lease, of the applicant, as ought reasonably be expected to have been carried out at the time the application is made.