80Expenditure project area for ELs

80 Expenditure project area for ELs (1) The holder of multiple ELs may apply to the Minister for approval of an expenditure project area for the title areas of 2 or more of the ELs (the project area) if the title holder intends to expend a substantial amount on carrying out technical work in the project Mineral Titles Regulations 2011 44 (2) The title holder must nominate in the application a reporting day for giving the Minister a notice (a project expenditure notice) of: (a) the amount the title holder proposes to expend on carrying out technical work in the project area during the next 12 months; and (b) the amount actually expended for that purpose during the previous 12 months. (3) The Minister may: (a) if satisfied it is appropriate: (i) approve the application for all or some of the ELs specified in the application; and (ii) approve a reporting day for giving the project expenditure notice; or (b) otherwise – refuse the application. (4) If the Minister approves the application: (a) it is a condition of each EL in the project area that the title holder must give a project expenditure notice on or before the reporting day specified in the notice of approval; and (b) the project expenditure notice and expenditure condition for the project area apply in relation to all of the ELs specified in the notice of approval; and (c) the amounts for proposed and actual expenditure, as specified in the project expenditure notice, apply to all of those ELs but may be expended in any part of the project area. (5) Despite subregulation (4)(a), the title holder must also comply with requirements in this Division to give an expenditure report, and any other report, for each EL in the project area (including an amalgamated report for any of those ELs if approved under regulation 87).