90Effect of suspension of rights on term of exploration licence

90 Effect of suspension of rights on term of exploration licence

(1) If the Joint Authority suspends rights conferred by an exploration licence for a specified period under section 48, the Joint Authority may extend the term of the licence. (2) An extension of a licence term under subsection (1): (a) must not be for a period that is longer than the period for which the licence rights were suspended; and (b) must be in writing. (3) If the Joint Authority extends the term of a licence under subsection (1), the Joint Authority must give the licence holder a written notice that informs the holder: (a) that the licence has been extended; and (b) of the period of the extension.