40Minister may require review of commercial viability

40 Minister may require review of commercial viability

(1) The Minister may require the holder of a retention lease to re-evaluate the commercial viability of geothermal energy extraction in the lease area and to report to the Minister in writing the results of the re-evaluation.

(2) The Minister must—

(a) make the requirement by giving the holder of the lease written notice of the requirement; and

(b) allow the holder of the lease at least 90 days within which to comply with the requirement.

(3) The Minister may, on the written application of the holder of a lease, allow the holder of the lease more time within which to comply with a requirement made under this section.

(4) If the holder of a lease fails to comply with a requirement made under this section, the Minister may cancel the lease.