Mcarthur River Project Agreement Ratification Act 1992

(1) Notwithstanding the granting or purported granting of the mineral leases and the exploration licence specified in Schedule 2, there is hereby granted to the Company in respect of each area of land that was, immediately before the commencement of this section –

(a) comprised in the respective mineral leases or purported mineral leases; or

(b) subject to the exploration licence or purported exploration licence,

specified in Schedule 2, a mineral lease or an exploration licence, as the case may be, under this Act.

(2) Notwithstanding anything in the Agreement or the Mining Act 1980:

(a) a mineral lease granted by subsection (1) is granted for a period of 50 years from the commencement of this section; and

(b) subject to paragraph (a), in respect of a mineral lease or exploration licence granted by subsection (1), time shall be calculated as if it were granted on 5 January 1993.

(3) Subject to subsection (2), a mineral lease or exploration licence validated by section 3 of the McArthur River Project Agreement Ratification Amendment Act 1993 or granted by subsection (1) of this section has the same force and effect, and is subject to the same terms and conditions, as applied or purported to apply to the mineral lease or exploration licence, as the case may be, in respect of the relevant area of land, granted or purported to have been granted before the commencement of this section under the Mining Act 1980 in pursuance of the Agreement and, subject to subsection (4), a reference in the Mining Act 1980 (other than sections 17, 19, 20, 22(1), 55(j), 57, 58, 59 and 163 of the Act) or the Agreement to:

(b) an exploration licence (including the renewal of an exploration licence),

includes a reference to a mineral lease or exploration licence granted by subsection (1) or so validated.

(4) For the avoidance of doubt and notwithstanding any other law in force in the Territory, a mineral lease or exploration licence is validly and effectively granted by subsection (1) notwithstanding that an application has not been made nor any action that would be required before an equivalent lease or licence could be granted under the Mining Act 1980 (including the giving of any notices and a hearing by and recommendation of the Warden) has not been taken.