92Effect of application for retention licence or mining licence on term of exploration licence

92 Effect of application for retention licence or mining licence on term of exploration licence

If: (a) an exploration licence holder applies for: (i) a retention licence (see section 137); or (ii) a mining licence (see section 198); over the licence area, or part of the licence area, of the exploration licence; and (b) the current term of the exploration licence expires; and (c) a grant of the retention licence or mining licence does not take effect before the current term of the exploration licence expires; the exploration licence remains in force until: (d) the grant of the retention licence or mining licence takes effect; or (e) a provisional grant of the retention licence or mining licence lapses; or (f) the application for the retention licence or mining licence is withdrawn or refused.