83Successful applicant must be notified

83 Successful applicant must be notified

83 Successful applicant must be notified

(1) If the Minister provisionally grants an exploration licence under section 81 or 87, the Minister must give the provisional holder:

(a) the licence, and

(b) written notice that the provisional grant will lapse unless the provisional holder, within 30 days after the day on which the notice is given:

(i) gives the Minister a written acceptance of the grant, and

(ii) lodges any security required under section 399, and

(iii) pays the fee that must be paid for the licence under section 425, and

(iv) if the tender is determined on the basis of the amounts of money offered for the licence, pays to the Minister the amount that the provisional holder offered for the licence under section 77 (1) (d).

(2) The licence must specify:

(a) the blocks covered by the licence, and

(b) the term of the licence, and

(c) the licence conditions.

Note—

For the term of a licence see section 88.