Security relating to exploration licence
60 Security relating to exploration licence
The applicant for an exploration licence shall lodge, in the prescribed manner and within the prescribed period, a security for compliance with the conditions to which the exploration licence, if granted, will from time to time be subject and with the provisions of this Part and the regulations.
[(1a) deleted]
A security referred to in subsection (1) shall be in accordance with and subject to the provisions of section 126.
An exploration licence shall not be granted unless a security has been lodged by the applicant for the exploration licence in accordance with subsection (1).
Notwithstanding section 154(1), an applicant for an exploration licence who fails to comply with subsection (1) does not commit an offence against this Act.
[Section 60 amended: No. 100 of 1985 s. 41; No. 37 of 1993 s. 26; No. 58 of 1994 s. 16; No. 17 of 1999 s. 7(1) and (2); No. 12 of 2010 s. 23; No. 31 of 2022 s. 14.]
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