44Commencement of tender process

44 Commencement of tender process

(1) The Minister may invite applications for the grant of an extraction licence in respect of an area if—

(a) in the opinion of the Minister, there is geothermal energy or geothermal energy resources in the area; and

(b) the area—

(i) is not the subject of an exploration permit, a retention lease or an extraction licence; or

(ii) was the subject of an exploration permit, a retention lease or an extraction licence that has expired or that has been surrendered or cancelled in respect of that area.

(2) The invitation must specify—

(a) the chief factors that will be considered by the Minister in assessing applications; and

(b) a date by which applications must be made; and

(c) any other matter required by the regulations.

(3) The invitation may specify—

(a) that an applicant must specify the amount that the applicant is willing to pay for the grant of the licence or the royalty regime that the applicant is prepared to accept under the licence; and

(b) the basis on which applications will be primarily decided.