32Payments and other consideration

32 Payments and other consideration

(1) If: (a) the Corporation grants permission to a person to carry out mining operations; (b) the person agrees to the conditions on which the permission is granted; and (c) the conditions provide that the person gives any payment or other consideration to the Corporation; the person shall, within 14 days after agreeing to the conditions, notify the Minister of the terms of the agreement. (2) The payment or other consideration: (a) shall be reasonable for any disturbance to the relevant land and to the traditional owners of the land and their lifestyle that has resulted or is likely to result from the granting of a mining tenement; (b) in the case of an application for a licence or permit referred to in paragraph (a) of the definition of mining tenement in section 3—shall not exceed any amount that would have become payable as compensation under an Act of Victoria mentioned in that paragraph in respect of any operations carried out under that licence or permit; and (c) in the case of an application for a lease, licence, permit or other authority referred to in paragraph (b) of that definition—may exceed any amount that would have become payable as compensation under an Act of Victoria mentioned in that paragraph in respect of any operations carried on under that lease, licence, permit or other authority.