33Effect of grant of lease

33 Effect of grant of lease (1) The term and geothermal authority area of a geothermal exploration permit or geothermal retention licence (the original authority) are not affected by: (a) an application for the grant of a geothermal production lease within the original authority area; or (b) the refusal by the Minister to grant a lease. (2) However, the grant of a lease within the original authority area excises the lease area from the original authority area. (3) The original authority continues in force for the original authority area that remains after the lease area is excised. Division 3 Payment of royalties