89Term of renewal of exploration licence

89 Term of renewal of exploration licence

89 Term of renewal of exploration licence

(1) A renewal of an exploration licence comes into force on:

(a) the day on which the renewal is registered, or

(b) the day on which the previous term of the licence expires,

whichever is the later.

Note—

See Division 6 for renewal.

(2) The term of a renewal of a licence ends 2 years after the day on which the previous term of the licence expires.

Note—

The licence may be surrendered at any time (see section 127).

(3) In working out the previous term of the licence, section 90 is to be disregarded.

(4) An exploration licence is not to be renewed more than 3 times.