sec.71AAProvision relating to authorities to prospect granted before 25 May 2020

### sec.71AA Provision relating to authorities to prospect granted before 25 May 2020 This section applies to an authority to prospect granted before 25 May 2020. Each of the following days is a relinquishment day for the authority if the day is at least 30 days after the day this section commences— a day stated in the authority to be a relinquishment day; if no relinquishment days are stated in the authority—each day during the term of the authority that is a 4-yearly interval after the day the authority took effect. Subject to sections 66A, 68 and 69, the holder of the authority must relinquish, by the end of each relinquishment day for the authority, at least 8.33% of the original notional sub-blocks of the authority for each year since the authority took effect. The sub-blocks required to be relinquished under subsection (3) are the usual relinquishment for the authority. This part, other than sections 64A and 66, applies in relation to the authority as if— a reference in section 62(4), 65(2), 66A(1)(b) or 68(1) to the relinquishment day for the authority were a reference to a relinquishment day for the authority; and a reference in section 65(1)(a) to the relinquishment day for the authority were a reference to each relinquishment day for the authority; and a reference in section 66A to section 66 or section 66(2) were a reference to subsection (3). s 71AA ins 2024 No. 33 s 162 (sec.71AA-ssec.1) This section applies to an authority to prospect granted before 25 May 2020. (sec.71AA-ssec.2) Each of the following days is a relinquishment day for the authority if the day is at least 30 days after the day this section commences— a day stated in the authority to be a relinquishment day; if no relinquishment days are stated in the authority—each day during the term of the authority that is a 4-yearly interval after the day the authority took effect. (sec.71AA-ssec.3) Subject to sections 66A, 68 and 69, the holder of the authority must relinquish, by the end of each relinquishment day for the authority, at least 8.33% of the original notional sub-blocks of the authority for each year since the authority took effect. (sec.71AA-ssec.4) The sub-blocks required to be relinquished under subsection (3) are the usual relinquishment for the authority. (sec.71AA-ssec.5) This part, other than sections 64A and 66, applies in relation to the authority as if— a reference in section 62(4), 65(2), 66A(1)(b) or 68(1) to the relinquishment day for the authority were a reference to a relinquishment day for the authority; and a reference in section 65(1)(a) to the relinquishment day for the authority were a reference to each relinquishment day for the authority; and a reference in section 66A to section 66 or section 66(2) were a reference to subsection (3). - (a) a day stated in the authority to be a relinquishment day; - (b) if no relinquishment days are stated in the authority—each day during the term of the authority that is a 4-yearly interval after the day the authority took effect. - (a) a reference in section 62(4), 65(2), 66A(1)(b) or 68(1) to the relinquishment day for the authority were a reference to a relinquishment day for the authority; and - (b) a reference in section 65(1)(a) to the relinquishment day for the authority were a reference to each relinquishment day for the authority; and - (c) a reference in section 66A to section 66 or section 66(2) were a reference to subsection (3).