Commonwealth Consolidated Acts

OFFSHORE MINERALS ACT 1994 - SECT 92

    If:

  (a)   an exploration licence holder applies for:

  (i)   a retention licence (see section   137); or

  (ii)   a mining licence (see section   198);

    over the licence area, or part of the licence area, of the exploration licence; and

  (b)   the current term of the exploration licence expires; and

  (c)   a grant of the retention licence or mining licence does not take effect before the current term of the exploration licence expires;

the exploration licence remains in force until:

  (d)   the grant of the retention licence or mining licence takes effect; or

  (e)   a provisional grant of the retention licence or mining licence lapses; or

  (f)   the application for the retention licence or mining licence is withdrawn or refused.