Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An exploration licence comes into force on:
(a) the day on which the grant of the licence is registered; or
(b) if a day later than the day on which the grant of the licence is registered is specified in the licence as its commencement day--that specified day.
(2) The initial term of an exploration licence ends 4 years after:
(a) the day on which the licence is provisionally granted; or
(b) if a day later than the day on which the licence is provisionally granted is specified in the licence as its commencement day--that specified day.
Note: The licence may be surrendered at any time (see section 127).