References in ch 3 to resource tenures and holders of resource tenures if the tenure ends
364 References in ch 3 to resource tenures and holders of resource tenures if the tenure ends
This section applies if a resource tenure ends.
Subsection (3) applies if—
the resource tenure was a mineral development licence and under the Mineral Resources Act, chapter 6, part 1 the holder of the licence became the holder of a mining lease; or
the resource tenure was an authority to prospect under the Petroleum Act 1923 and under part 6, division 1 of that Act the holder of the tenure became a lease holder; or
the resource tenure was an authority to prospect under the Petroleum and Gas Act and under chapter 2, part 2, division 2 of that Act the holder of the tenure became a petroleum lease holder.
A reference in this chapter—
to the resource tenure includes a reference to—
if the resource tenure is a mining lease—the mineral development licence; or
if the resource tenure is a lease granted under the Petroleum Act 1923, part 6, division 1 (1923 Act lease)—the authority to prospect under the Petroleum Act 1923; or
if the resource tenure is a petroleum lease under the Petroleum and Gas Act—the authority to prospect under the Petroleum and Gas Act; and
to the resource tenure holder includes a reference to—
if the resource tenure is a mining lease—the holder of the mineral development licence; or
if the resource tenure is a 1923 Act lease—the holder of the authority to prospect under the Petroleum Act 1923; or
if the resource tenure is a petroleum lease under the Petroleum and Gas Act—the holder of the authority to prospect under the Petroleum and Gas Act.
If subsection (3) does not apply to a resource tenure, a reference in this chapter to the holder of the resource tenure is a reference to the holder of the resource tenure immediately before it ended.
This Act’s bill:Explanatory memorandum
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