Registration of a farm-out agreement or other subsidiary dealing under s 158 of the Mineral Resources Act 1989 (Qld) does not give the registered interest priority over a subsequent assignment of the exploration permit approved under s 151. Holders of subsidiary interests who wish to protect their position against an assignment must lodge a caveat under s 152 of the Act. Mere contractual rights under a farm-out agreement, without any proprietary interest in the permit, are not enforceable against an assignee of the permit.
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