Mineral Resources Act 1989

Where the holder of a mineral development licence makes application for the grant of a subsequent mineral development licence or a mining lease, the Minister notwithstanding that the period of 6 months after the termination of that licence may not have elapsed may, instead of refunding the whole or part of the security deposited in respect of the current mineral development licence, retain that security or part thereof (together with any further security fixed by the Minister) as the security (in which case it shall be taken to be or to be part of the security) deposited by the applicant in respect of the subsequent mineral development licence or the mining lease.