Offshore Minerals Act 1999
126General
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126 General
126 General
(1) An exploration licence expires if:
(a) the term of the licence ends without the licence being renewed, or
(b) the licence holder surrenders the licence, or
(c) a retention licence is granted over the blocks in the licence area of the exploration licence, or
(d) a mining licence is granted over the blocks in the licence area of the exploration licence, or
(e) the licence is cancelled.
Note—
For paragraph (a) see Division 6. For paragraph (b) see section 127. For paragraph (c) see section 128. For paragraph (d) see section 129. For paragraph (e) see section 130.
(2) In subsection (1) (a) the reference to the term of the licence includes any period during which the licence is in force under section 90, 91, 92 or 93.