Offshore Minerals Regulations 2010

If unused mining property is not removed in accordance with regulation 12, the Minister may cause the property to be removed and may direct that the property be sold by public auction.

Any unused mining property unsold after the public auction may be sold by private treaty.

Any costs and expenses incurred by the Minister or a person acting under the direction of the Minister in removing or disposing of unused mining property under this regulation —

are recoverable from the responsible licence holder in a court of competent jurisdiction as a debt due to the State; and

may be deducted from the proceeds of a sale under subregulation (1) or (2).

Any remaining proceeds of sale must be paid to the Treasurer who must, on receipt of an application by the responsible licence holder, pay those proceeds to the responsible licence holder.

If an application under subregulation (4) is not made within 2 years after the date of the sale, the remaining proceeds of sale must be paid into the Consolidated Account.