MINING ACT 1978 - SECT 64

MINING ACT 1978 - SECT 64

64 .         Consent to dealing in exploration licence

        (1)         During the first year of the term for which an exploration licence is granted, a legal or equitable interest in or affecting the exploration licence shall not be transferred or otherwise dealt with, whether directly or indirectly, unless —

            (a)         the dealing or other transaction in or affecting the interest arises in the due administration of the estate or affairs of a holder —

                  (i)         who is dead; or

                  (ii)         who is a person who is an insolvent under administration within the meaning of the Corporations Act; or

                  (iii)         who is otherwise incapacitated at law; or

                  (iv)         which is in the course of being wound up (not being a voluntary winding up);

                or

            (b)         prior written consent to the dealing or other transaction in or affecting the interest is given by the Minister or an officer of the Department acting with the authority of the Minister.

        (2)         Nothing in subsection (1) prevents, or affects the validity of, any agreement made in contemplation of a dealing or other transaction to which that subsection applies where the agreement expressly provides that the consent required by that subsection is to be obtained as a condition of the dealing or other transaction.

        [Section 64 inserted: No. 100 of 1985 s. 44; amended: No. 37 of 1993 s. 27; No. 54 of 1996 s. 8; No. 10 of 2001 s. 132.]