sec.75Tender sub-block tenure notice—exploration permit

sec.75 Tender sub-block tenure notice—exploration permit

A tender sub-block tenure notice for an exploration permit must— specify the sub-blocks to be covered by the tenure; and specify the period within which applications may be made; and specify the procedure and criteria that the Minister will adopt to allocate the tenure; and specify the amount of security that the successful applicant will be required to lodge; and include a statement to the effect that information about— the security that the successful applicant will be required to lodge; and the tenure conditions; may be obtained from the Minister. Without limiting subsection (1) (c) , the Minister may, for that paragraph, specify that the tender will be decided on the basis of either or both of the following— the nature and extent of the exploration activity proposed to be carried out; the amount of money offered for the tenure. The tender sub-block tenure notice may specify not more than 500 sub-blocks for the exploration permit. (sec.75-ssec.1) A tender sub-block tenure notice for an exploration permit must— specify the sub-blocks to be covered by the tenure; and specify the period within which applications may be made; and specify the procedure and criteria that the Minister will adopt to allocate the tenure; and specify the amount of security that the successful applicant will be required to lodge; and include a statement to the effect that information about— the security that the successful applicant will be required to lodge; and the tenure conditions; may be obtained from the Minister. (sec.75-ssec.2) Without limiting subsection (1) (c) , the Minister may, for that paragraph, specify that the tender will be decided on the basis of either or both of the following— the nature and extent of the exploration activity proposed to be carried out; the amount of money offered for the tenure. (sec.75-ssec.3) The tender sub-block tenure notice may specify not more than 500 sub-blocks for the exploration permit.

• (a) specify the sub-blocks to be covered by the tenure; and
• (b) specify the period within which applications may be made; and
• (c) specify the procedure and criteria that the Minister will adopt to allocate the tenure; and
• (d) specify the amount of security that the successful applicant will be required to lodge; and
• (e) include a statement to the effect that information about— (i) the security that the successful applicant will be required to lodge; and (ii) the tenure conditions;
• (i) the security that the successful applicant will be required to lodge; and
• (ii) the tenure conditions;
• (i) the security that the successful applicant will be required to lodge; and
• (ii) the tenure conditions;
• (a) the nature and extent of the exploration activity proposed to be carried out;