sec.40Provisions for preferred tenderers

### sec.40 Provisions for preferred tenderers The Minister may require a preferred tenderer for the call for tenders to— pay any amounts necessarily incurred, or to be incurred, to enable the authority to prospect to be granted; and amounts required to comply with the Commonwealth Native Title Act , part 2 , division 3 , subdivision P to do all or any of the following within a stated reasonable period— pay the annual rent for the first year of the authority; give, under section 488 , security for the authority. If a preferred tenderer does not— comply with a requirement under subsection (1) ; or do all things reasonably necessary to allow an authority to prospect to be granted to the tenderer; the Minister may revoke the tenderer’s appointment as the preferred tenderer. However, before acting under subsection (2) , the Minister must give the preferred tenderer a reasonable opportunity to provide reasons for, and rectify, the tenderer’s failure to comply with a requirement under subsection (1) or (2) (b) . If the Minister revokes the appointment of the tenderer as the preferred tenderer under this section, the Minister may— retain the whole or part of any tender security given by the tenderer, if the Minister considers it reasonable in the circumstances; and appoint another tenderer to be the preferred tenderer. s 40 amd 2005 No. 3 s 105 sch ; 2013 No. 10 s 167 (sec.40-ssec.1) The Minister may require a preferred tenderer for the call for tenders to— pay any amounts necessarily incurred, or to be incurred, to enable the authority to prospect to be granted; and amounts required to comply with the Commonwealth Native Title Act , part 2 , division 3 , subdivision P to do all or any of the following within a stated reasonable period— pay the annual rent for the first year of the authority; give, under section 488 , security for the authority. (sec.40-ssec.2) If a preferred tenderer does not— comply with a requirement under subsection (1) ; or do all things reasonably necessary to allow an authority to prospect to be granted to the tenderer; the Minister may revoke the tenderer’s appointment as the preferred tenderer. (sec.40-ssec.3) However, before acting under subsection (2) , the Minister must give the preferred tenderer a reasonable opportunity to provide reasons for, and rectify, the tenderer’s failure to comply with a requirement under subsection (1) or (2) (b) . (sec.40-ssec.4) If the Minister revokes the appointment of the tenderer as the preferred tenderer under this section, the Minister may— retain the whole or part of any tender security given by the tenderer, if the Minister considers it reasonable in the circumstances; and appoint another tenderer to be the preferred tenderer. - (a) pay any amounts necessarily incurred, or to be incurred, to enable the authority to prospect to be granted; and Example— amounts required to comply with the Commonwealth Native Title Act , part 2 , division 3 , subdivision P - (b) to do all or any of the following within a stated reasonable period— (i) pay the annual rent for the first year of the authority; (ii) give, under section 488 , security for the authority. - (i) pay the annual rent for the first year of the authority; - (ii) give, under section 488 , security for the authority. - (i) pay the annual rent for the first year of the authority; - (ii) give, under section 488 , security for the authority. - (a) comply with a requirement under subsection (1) ; or - (b) do all things reasonably necessary to allow an authority to prospect to be granted to the tenderer; - (a) retain the whole or part of any tender security given by the tenderer, if the Minister considers it reasonable in the circumstances; and - (b) appoint another tenderer to be the preferred tenderer.