sec.502Replacement mining titles freeholding leases

### sec.502 Replacement mining titles freeholding leases As soon as practicable after the commencement, the chief executive must issue a new lease document to replace each existing mining titles freeholding lease document. The new lease is subject to all the encumbrances to which the existing lease was subject and in the same priorities. When the new lease is issued, the old lease is no longer valid. The new lease must be sent to the person who is entitled to the possession of the old lease. The old lease must be returned to the chief executive for cancellation when the new lease is issued. A lessee may ask for the return of the old lease suitably marked as cancelled. This section also applies if there is an entitlement to a mining titles freeholding lease but the lease has not been issued. (sec.502-ssec.1) As soon as practicable after the commencement, the chief executive must issue a new lease document to replace each existing mining titles freeholding lease document. (sec.502-ssec.2) The new lease is subject to all the encumbrances to which the existing lease was subject and in the same priorities. (sec.502-ssec.3) When the new lease is issued, the old lease is no longer valid. (sec.502-ssec.4) The new lease must be sent to the person who is entitled to the possession of the old lease. (sec.502-ssec.5) The old lease must be returned to the chief executive for cancellation when the new lease is issued. (sec.502-ssec.6) A lessee may ask for the return of the old lease suitably marked as cancelled. (sec.502-ssec.7) This section also applies if there is an entitlement to a mining titles freeholding lease but the lease has not been issued.