Mining Act 1992

On the making of an order under section 292YA, a fixed charge is created on each mining lease specified in the order to secure payment to the Crown of the liability specified in the order.

The fixed charge is an interest registrable in the register of legal and equitable interest in authorities kept under section 161.

The Secretary must, as soon as reasonably practicable after the making of the order, make a record of the fixed charge in the register of legal and equitable interests in authorities.

The fixed charge ceases to have effect when the first of the following occurs—

the liability is paid,

the mining lease is cancelled,

the mining lease otherwise ceases to have effect,

for a fixed charge created on the making of an order under section 292YA(1)—the order is revoked by the Minister,

for a fixed charge created on the making of an order under section 292YA(2)—the order is revoked by the Secretary.

A change in holder of the mining lease does not affect the fixed charge.

For matters other than legal proceedings, the fixed charge is subject to every other legal or equitable interest to which the mining lease was subject immediately before the fixed charge was created on the mining lease.