Mineral Resources Development Act 1995
56Retention licence
Start here
Get a plain-English read of 56
Turn the raw legal text into a practical explanation grounded in Mineral Resources Development Act 1995.
56 Retention licence
(1) [Section 56 Subsection (1) amended by No. 24 of 2013, s. 62, Applied:28 Jun 2013] On granting an application for a licence, the Minister is to issue a retention licence.
(2) A licence is to –
(a) be in an approved form; and
(b) include the following particulars:
(i) [Section 56 Subsection (2) amended by No. 24 of 2013, s. 62, Applied:28 Jun 2013] a description of the area of land comprised in the licence;
(ii) the total area of that land;
(iii) [Section 56 Subsection (2) amended by No. 24 of 2013, s. 62, Applied:28 Jun 2013] the minerals, or category of minerals, to which the licence relates;
(iv) the terms and conditions to which it is subject;
(v) the period for which it is in force.
(3) [Section 56 Subsection (3) amended by No. 24 of 2013, s. 62, Applied:28 Jun 2013] A licensee is to pay rent to the Crown in respect of the land comprised in the licence at a prescribed rate and in a prescribed manner.