114Acceptance of renewal of exploration licence

#### 114 Acceptance of renewal of exploration licence (1) The provisional renewal of an exploration licence is properly accepted by the licence holder if, before the end of the primary payment period, the holder: (a) gives the Designated Authority a written acceptance of the renewal; and (b) lodges any security required by the Joint Authority under section 399; and (c) pays the fees that must be paid under the Exploration Licence Fees Act. > Note: Under section 89, the renewal of the licence cannot be effective before it is registered (see section 334 for registration). (2) The provisional renewal of an exploration licence is properly accepted by the licence holder if the holder: (a) has been granted an extension of the primary payment period under section 113; and (b) before the end of the secondary payment period: (i) gives the Designated Authority a written acceptance of the renewal; and (ii) lodges any security required by the Joint Authority under section 399; and (iii) pays the fees that must be paid under the Exploration Licence Fees Act. > Note: Under section 89, the renewal of the licence cannot be effective before it is registered (see section 334 for registration).