Mining Act 1992

A holder of a mining lease may apply for a deferral approval.

An application for a deferral approval must be lodged with the Secretary.

The Minister may, on application—

grant a deferral approval, or

refuse to grant a deferral approval.

The Minister must not grant a deferral approval unless the Minister is satisfied the application meets the eligibility criteria prescribed by the regulations.

In considering whether to grant a deferral approval, the Minister may have regard to guidelines issued and made publicly available by the Minister for the purposes of this section.

A deferral approval must specify a deferred time on which royalty for a specified period is payable on one or more critical minerals.

However, a deferral approval must not specify a deferred time that is greater than a deferred period of time prescribed by the regulations.

A deferral approval cannot apply to a mineral other than a critical mineral.

A deferral approval is subject to conditions imposed by the regulations.

The Minister may revoke a deferral approval in the circumstances prescribed by the regulations.

No compensation is payable for the revocation of a deferral approval.

The regulations may further provide for matters in connection with the revocation of a deferral approval, including the payment of royalties payable under a deferral approval on revocation.

In this section—

critical mineral means a mineral prescribed by the regulations for this section.