38Term of lease

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38 Term of lease

(1) A retention lease starts on the day it is registered in the geothermal energy register.

(2) A retention lease expires on the last day of the period specified by the Minister in the lease as the term of the lease, unless it is cancelled or surrendered earlier or unless this Act otherwise provides.

(3) The Minister must specify the term of a retention lease which must not be more than 15 years.

(4) A retention lease cannot be renewed.

Section 38 - Geothermal Energy Resources Act 2005 - Term of lease | Zoe