Relinquishment requirements for existing exploration permits
857 Relinquishment requirements for existing exploration permits
This section applies to an exploration permit in force on the commencement.
Despite new section 139(1), if the permit is renewed after the commencement, the area of the permit is required to be reduced only by 50% of the area of the permit, as existing on the commencement, by the day that is 5 years after the permit is first renewed after the commencement.
Despite new section 139(1) and subsection (2), if the permit is an exploration permit for coal to which the Common Provisions Act, section 232(1) applies, and no agreement has been made in relation to the permit under section 232(2) of that Act, the area of the permit is not required to be reduced by any amount.
Subsections (2) and (3) apply despite any condition about reducing the area of the permit determined by the Minister under section 141(1)(j) before the commencement.
New sections 139 and 139A apply in relation to a reduction in the area of the permit under subsection (2) as if it were a reduction under new section 139(1).
For subsection (5), a reference in new sections 139 and 139A to section 139(1) is taken to be a reference to subsection (2).
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