MINING ACT 1978 - SECT 70L
MINING ACT 1978 - SECT 70L
70L . Holder of retention licence to have priority for grant of mining lease or general purpose lease
(1) The holder of a
retention licence has —
(a)
subject to this Act and to any conditions to which the retention licence is
subject; and
(b)
subject to satisfactory compliance with any conditions imposed under
section 70I or 70IA; and
(c)
while the retention licence remains in force,
the right to apply
for, and subject to section 75(9) to have granted pursuant to section 75(7),
one or more mining leases or one or more general purpose leases or both in
respect of any part or parts of the land the subject of the retention licence.
(2) Where an
application for a mining lease or a general purpose lease is made by the
holder of a retention licence in respect of any land and the term of the
retention licence would but for this subsection expire, that licence shall
continue in force in respect of the land the subject of the application until
the application for a lease is determined.
(3) If, after an
application is made under subsection (1) in respect of land the subject of a
retention licence —
(a) the
holder of the licence transfers the licence; or
(b)
where there are 2 or more holders of the licence, a holder transfers the
holder’s interest in the licence,
the application
continues in the name of the transferee of the licence or interest as if the
transferee were the applicant or one of the applicants, as the case requires.
(4) For the purposes
of subsection (3), where there are 2 or more transferees of the retention
licence, each of the transferees is to be regarded as an applicant for an
interest in the relevant mining lease or general purpose lease that
corresponds to the interest held by that transferee in the licence.
[Section 70L inserted: No. 37 of 1993 s. 10(1);
amended: No. 58 of 1994 s. 29(3); No. 17 of 1999 s. 12(5) and 13.]