When retention licence liable to forfeiture
70K When retention licence liable to forfeiture
A retention licence is liable to forfeiture if —
the prescribed rent or royalty in respect of the licence is not paid in accordance with this Act; or
the terms and conditions of the licence are not complied with, including —
any conditions to which the licence is taken to be subject under section 70H, 103AE(1) or 103AG(3), (4) or (5); and
any conditions imposed under section 70IA(1) or 103AU(1);
or
a report required under section 70H(1)(f) or 115A in relation to the land the subject of the retention licence is not filed in accordance with this Act; or
the holder of the licence fails to comply with a requirement under section 103AV(1) to lodge a security; or
the holder of the licence is convicted of an offence against this Act; or
the holder of the licence fails to comply with a notice under section 70M(2) requiring that person to apply for a mining lease in respect of the whole or any part of the land the subject of the licence; or
the holder of the licence fails to comply with a notice under section 115B(2) requiring that person to file an audit statement or cause an audit statement to be filed.
[Section 70K inserted: No. 37 of 1993 s. 10(1); amended: No. 58 of 1994 s. 26; No. 17 of 1999 s. 12(4); No. 39 of 2004 s. 37 and 97(2); No. 31 of 2022 s. 23.]
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