99Voluntary surrender of blocks if discrete area remains

99 Voluntary surrender of blocks if discrete area remains

(1) An exploration licence holder may surrender a block or some of the blocks covered by the licence if the remaining blocks in the licence area form a discrete area.

Note: See section 127 for the surrender of the whole licence.

(2) A surrender under subsection (1) must: (a) be made in writing; and (b) identify the blocks surrendered; and (c) be given to the Designated Authority.

Note: The surrender takes effect when it is registered under section 337 (see subsection 337(5)).