27Term of exploration licence

27 Term of exploration licence

27 Term of exploration licence

An exploration licence—

(a) takes effect on the date on which it is granted or on such later date, or on the occurrence of such later event, as the decision-maker may determine, and

(b) ceases to have effect on the expiration of—

(i) 2 years after the date on which it took effect, in the case of an exploration (mineral owner) licence, or

(ii) such period (not exceeding 6 years) as the decision-maker determines, in the case of any other exploration licence.

s 27: Subst 2008 No 19, Sch 1 [26]. Am 2015 No 40, Sch 1 [13].