Mining Act 1992

The requirement to give and maintain security under condition 29 of a relevant licence lapses when the Minister determines that the requirements of any directions under section 240 or obligations under the relevant licence (non-compliance with which would authorise a claim on or realisation of the deposit) have been fulfilled to a satisfactory extent and in a satisfactory manner.

The Minister is not required to make a determination under subclause (1) until the Minister is satisfied that no directions or further directions under section 240 are required.

The Minister must, if practicable, give written notice of a determination under subclause (1) to the former holder of the relevant licence.

For the purposes of section 378D, and sections 378H and 378I and Schedule 7 to this Act (as they apply to contraventions of section 378D), condition 29 of a relevant licence is taken to be a condition of a kind referred to in Part 1 of Schedule 7 to this Act.

Subclause (4) applies only to a contravention of section 378D that occurs on or after the cancellation date.