sec.138Rental payable on exploration permit

### sec.138 Rental payable on exploration permit Rental for the first year of the term of an exploration permit (its first rental period ) is payable before the granting of the permit under part 2 or 3 (the original permit ). On the renewal of an exploration permit, rental is payable— for the first year of the term of the renewed permit; and within 20 business days after the renewal is granted. For each year an exploration permit is in force, rental for the whole year (other than its first rental period) is payable on or before the anniversary of— for an original permit—the grant of the permit; or for a renewed permit—the day the term of the renewed permit started. For when the term of a renewed permit starts, see section 147D . The amount of the rental payable for each year is calculated by multiplying the number of sub-blocks to which the permit applies by the amount prescribed under a regulation for the year. s 138 sub 2005 No. 8 s 13 amd 2008 No. 56 s 33 ; 2012 No. 20 s 125 sch 1 , s 323 sch 3 (amd 2013 No. 10 s 159 (2) ); 2013 No. 10 s 52 (sec.138-ssec.1) Rental for the first year of the term of an exploration permit (its first rental period ) is payable before the granting of the permit under part 2 or 3 (the original permit ). (sec.138-ssec.2) On the renewal of an exploration permit, rental is payable— for the first year of the term of the renewed permit; and within 20 business days after the renewal is granted. (sec.138-ssec.3) For each year an exploration permit is in force, rental for the whole year (other than its first rental period) is payable on or before the anniversary of— for an original permit—the grant of the permit; or for a renewed permit—the day the term of the renewed permit started. For when the term of a renewed permit starts, see section 147D . (sec.138-ssec.4) The amount of the rental payable for each year is calculated by multiplying the number of sub-blocks to which the permit applies by the amount prescribed under a regulation for the year. - (a) for the first year of the term of the renewed permit; and - (b) within 20 business days after the renewal is granted. - (a) for an original permit—the grant of the permit; or - (b) for a renewed permit—the day the term of the renewed permit started. Note— For when the term of a renewed permit starts, see section 147D .