118Conditions of exploration licence

#### 118 Conditions of exploration licence (1) The Joint Authority may grant or renew an exploration licence subject to whatever conditions the Joint Authority thinks appropriate. (2) If the Joint Authority grants or renews an exploration licence subject to conditions, the conditions must be specified in the licence. (3) Without limiting subsection (1), the Joint Authority may attach the following kinds of conditions to the grant or renewal of an exploration licence: (a) a condition requiring the licence holder to take out insurance as required by the Designated Authority; (b) a condition requiring the holder to carry out certain work in or in relation to the licence area during the term of the licence, and to comply with directions concerning that work given under section 387; (c) a condition requiring the holder to spend a specified amount of money in carrying out the work referred to in paragraph (b), and to comply with directions concerning that expenditure given under section 387; (d) a condition requiring the holder to lodge a security with the Designated Authority; (e) a condition requiring the holder to keep specified information; (f) a condition requiring the holder to give the Designated Authority, on request, specified information; (g) a condition requiring the holder to take steps to protect the environment of the licence area, including conditions relating to: (i) protecting wildlife; or (ii) minimising the effect on the environment of the licence area and the area surrounding the licence area of activities carried out in the licence area; (h) a condition requiring the holder to repair any damage to the environment caused by activities in the licence area; (i) a condition requiring the holder to pay a specified penalty to the Commonwealth if the holder does not comply with a licence condition. (4) A condition under paragraph (3)(d) must specify: (a) the amount of the security required; and (b) the kind of security required; and (c) the manner and form in which the security is to be lodged. (5) Without limiting paragraph (3)(d), a condition under that paragraph may require the lodgment of a security in the form of a guarantee and if a guarantee is required the condition may specify: (a) the kind of person who is to give the guarantee; and (b) the terms of the guarantee.