Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If the Joint Authority proposes to invite applications for the grant of a mining licence over reserved blocks, the Joint Authority must, before inviting the applications, determine:
(a) the procedure and criteria that the Joint Authority will adopt to allocate the licence; and
(b) the amount of security that will be required for the licence under section 399; and
(c) the initial term of the licence; and
(d) the licence conditions.
(2) The term determined under paragraph (1)(c) is not to exceed 21 years.