117General

117 General

117 General

(1) The sources of obligations associated with an exploration licence are:

(a) the licence conditions, and

(b) obligations arising from directions under section 387 or 392 given by the Minister, and

(c) obligations imposed by this Act and the regulations.

Note—

For paragraph (a) see sections 118 to 120. For paragraph (c) see sections 44, 123 to 125, 372 and 391 (1).

(2) If an exploration licence has 2 or more holders, all the holders are jointly and severally bound by the obligations that attach to the licence.