60Procedures relating to payment of rent and giving security

60 Procedures relating to payment of rent and giving security (1) The Minister may grant a person a mineral title only if the person has paid the required rent, and given the required security, for the (2) If the person has paid the required rent and given the required security when the Minister decides to grant the mineral title, the grant takes effect on the day the Minister makes the decision. (3) If the person has not paid the required rent or given the required security and the Minister considers it will be appropriate to grant the mineral title if the person does so, the Minister must give the person a notice specifying: (a) the Minister will grant the mineral title for the title area specified in the notice if the person pays the required rent and gives the required security before the date specified in the notice; and (b) the matters mentioned in subregulations (5) and (6). (4) The date specified under subregulation (3)(a) must be at least 30 days after the date of the notice. Mineral Titles Regulations 2011 32 (5) If the person pays the required rent and gives the required security before the specified date, the grant of the mineral title takes effect on the date the Agency receives the rent and security. (6) If the person does not pay the required rent and give the required security before the specified date: (a) the person's application for the grant of the mineral title is refused; and (b) the application is prescribed for section 166(3) of the Act. Note for subregulation (6)(b) The Minister is not required to give any further notice relating to the refusal to grant the mineral title that would otherwise be required under section 166(2) of (7) In this regulation: required rent means: (a) for an EMEL – the rent payable for the term of the EMEL; or (b) for any other mineral title – the rent payable for the first operational year of the title. required security, for a mineral title, means the security (if any) for compensation required under section 106 of the Act before or during the consideration of an application for the grant of the title.