33Transfer of licence

33 Transfer of licence (1) An exploration licence must not be transferred during its first year, and a purported transfer during that time has no effect. (2) A licence (other than an exploration licence during its first year) may be transferred by an instrument approved by the Minister and not otherwise. S. 33(3) amended by No. 86/1993 s. 15(1), substituted by 68/2014 s. 37(1). (3) Before approving an instrument of transfer, the Minister must be satisfied that— (a) the proposed transferee complies with section 15(6)(a), (b), (ba), (c) and (d); and (b) subject to subsection (3B), the existing licensee has paid all outstanding fees, bonds, royalties and rents in respect of the licence; and (c) subject to subsection (3C), in the case of an existing licensee who has a work plan, the work plan is adequate. S. 33(3A) inserted by No. 86/1993 s. 15(2). (3A) The Minister may approve an instrument of transfer even if he or she is not satisfied as to the matter specified in section 15(6)(ba) if the Minister is satisfied that minerals have been identified in the land covered by the licence and that— (a) additional time is necessary to assess the economic viability of mining those minerals; or (b) it is not at present economically viable to mine those minerals but it may become so in the future. S. 33(3B) inserted by No. 68/2014 s. 37(2). (3B) If the existing licensee has not paid all outstanding fees, bonds, royalties and rents in respect of the licence, the Minister may approve the instrument of transfer subject to the proposed transferee agreeing to pay the amounts outstanding. S. 33(3C) inserted by No. 68/2014 s. 37(2). (3C) If the existing licensee has a work plan and the Minister is not satisfied that the work plan relating to the licence is adequate, the Minister may approve the instrument of transfer subject to the proposed transferee being required to submit a new work plan for approval by the Department Head within the time specified by the Minister. (4) A transfer— (a) has no effect until the instrument of transfer is approved by the Minister and registered; and (b) once approved and registered, attaches to the transferee all rights and obligations under the licence. S. 33(5) amended by No. 64/2012 s. 28. (5) The transferee of a mining licence or prospecting licence must give written notice of the transfer to the owner of any land covered by the licence. S. 33A inserted by No. 82/2000 s. 28.