89Term of renewal of exploration licence

89 Term of renewal of exploration licence

(1) A renewal of an exploration licence comes into force on: (a) the day on which the renewal is registered; or (b) the day on which the previous term of the licence expires; whichever is the later.

Note: See Division 6 for renewal.

(2) The term of a renewal of a licence ends 2 years after the day on which the previous term of the licence expires.

Note: The licence may be surrendered at any time (see section 127).

(3) Ignore section 90 in working out the period of 2 years referred to in subsection (2). (4) An exploration licence is not to be renewed more than 3 times.