Mineral Resources Development Act 1995

The Minister may, in relation to a licence, determine the minimum amount of money that the Director may require the holder of the licence to expend, in each 12-month period for which the licence is in force, in relation to exploration activities that are required by the work program in respect of the licence to be carried out.

The Director, by notice served on the holder of a licence, may specify – the minimum amount determined by the Minister under subsection (1) in relation to the licence; and that the holder of the licence is required to expend, in each 12-month period for which the licence is in force, in relation to exploration activities that are required by the work program in respect of the licence to be carried out, at least the amount specified in the notice under paragraph (a).

The holder of a licence on whom a notice is served under subsection (2) must, in each 12-month period for which the licence is in force, expend, in relation to exploration activities that are required by the work program in respect of the licence to be carried out, at least the amount of money that is specified in the notice.

The Director may not specify in a notice under subsection (2) in relation to the holder of a licence a period, if the period is a period specified in a condition, of the kind referred to in section 18(2A), that is imposed on the licence.