sec.23Indication of Minister’s approval to register

### sec.23 Indication of Minister’s approval to register This section applies for a proposed prescribed dealing. The prescribed applicant for the proposed prescribed dealing may apply to the Minister for an indication of (an indicative approval )— whether the Minister is likely to approve the proposed prescribed dealing; and what, if any, conditions are likely to be imposed by the Minister. Chapter 6 , part 1 applies for processing the application, and the Minister must decide to either refuse to give the indicative approval or give the indicative approval with or without conditions. Subsection (5) applies if— the indicative approval indicates the Minister will approve the proposed prescribed dealing; and within the prescribed period, the prescribed applicant applies to the Minister under section 19 for approval of the proposed prescribed dealing. The Minister must grant the approval in accordance with the indicative approval unless— the proposed prescribed dealing is a transfer of the resource authority, or a share in the resource authority, and the proposed transferee is not eligible to be a resource authority holder under this Act or the relevant Resource Act; or the application for the indicative approval contained incorrect material information or omitted material information and, had the Minister been aware of the discrepancy, the Minister would not have given the indicative approval; or preconditions for the indicative approval have not been complied with. To remove any doubt, it is declared that granting of the approval is subject to sections 20 , 21 and 22 . In this section— preconditions , for an indicative approval, means conditions imposed on the approval under this section that must be complied with before a related application is made for approval under section 19 . prescribed applicant , for a proposed prescribed dealing, means the entity that may, under section 19 (1) , apply for approval of the dealing. s 23 amd 2020 No. 14 s 218 sch 1 (sec.23-ssec.1) This section applies for a proposed prescribed dealing. (sec.23-ssec.2) The prescribed applicant for the proposed prescribed dealing may apply to the Minister for an indication of (an indicative approval )— whether the Minister is likely to approve the proposed prescribed dealing; and what, if any, conditions are likely to be imposed by the Minister. (sec.23-ssec.3) Chapter 6 , part 1 applies for processing the application, and the Minister must decide to either refuse to give the indicative approval or give the indicative approval with or without conditions. (sec.23-ssec.4) Subsection (5) applies if— the indicative approval indicates the Minister will approve the proposed prescribed dealing; and within the prescribed period, the prescribed applicant applies to the Minister under section 19 for approval of the proposed prescribed dealing. (sec.23-ssec.5) The Minister must grant the approval in accordance with the indicative approval unless— the proposed prescribed dealing is a transfer of the resource authority, or a share in the resource authority, and the proposed transferee is not eligible to be a resource authority holder under this Act or the relevant Resource Act; or the application for the indicative approval contained incorrect material information or omitted material information and, had the Minister been aware of the discrepancy, the Minister would not have given the indicative approval; or preconditions for the indicative approval have not been complied with. (sec.23-ssec.6) To remove any doubt, it is declared that granting of the approval is subject to sections 20 , 21 and 22 . (sec.23-ssec.7) In this section— preconditions , for an indicative approval, means conditions imposed on the approval under this section that must be complied with before a related application is made for approval under section 19 . prescribed applicant , for a proposed prescribed dealing, means the entity that may, under section 19 (1) , apply for approval of the dealing. - (a) whether the Minister is likely to approve the proposed prescribed dealing; and - (b) what, if any, conditions are likely to be imposed by the Minister. - (a) the indicative approval indicates the Minister will approve the proposed prescribed dealing; and - (b) within the prescribed period, the prescribed applicant applies to the Minister under section 19 for approval of the proposed prescribed dealing. - (a) the proposed prescribed dealing is a transfer of the resource authority, or a share in the resource authority, and the proposed transferee is not eligible to be a resource authority holder under this Act or the relevant Resource Act; or - (b) the application for the indicative approval contained incorrect material information or omitted material information and, had the Minister been aware of the discrepancy, the Minister would not have given the indicative approval; or - (c) preconditions for the indicative approval have not been complied with.