(2) In the case of an application for the first renewal S. 32(2) of an exploration licence, the Minister may renew amended by No. 86/1993 the exploration licence for a period of up to s. 14, 5 years— substituted by No. 82/2000 (a) if he or she is satisfied that the licensee has s. 27, amended by identified minerals in the land covered by the No. 59/2010 licence and that— s. 20(1). (i) additional time is necessary to assess the economic viability of mining those minerals; or (ii) it is not at present economically viable to mine those minerals but it may become so in the future; or (b) for any other reason. S. 32(2A) (2A) In the case of an application for the second inserted by renewal of an exploration licence, the Minister No. 59/2010 may only renew the exploration licence for a s. 20(2). period of up to 5 years. (3) The renewal of a licence takes effect on the anniversary of the registration under this Act of the initial licence. Pt 2 Div. 7 Division 7—Changes to licences (Heading) inserted by No. 63/2006 s. 19. 33 Transfer of licence (1) An exploration licence must not be transferred during its first year, and a purported transfer during that time has no effect. (2) A licence (other than an exploration licence during its first year) may be transferred by an instrument approved by the Minister and not otherwise.
S. 32(2) amended by No. 86/1993 s. 14, substituted by No. 82/2000 s. 27, amended by No. 59/2010 s. 20(1). (2) In the case of an application for the first renewal of an exploration licence, the Minister may renew the exploration licence for a period of up to 5 years— (a) if he or she is satisfied that the licensee has identified minerals in the land covered by the licence and that— (i) additional time is necessary to assess the economic viability of mining those minerals; or (ii) it is not at present economically viable to mine those minerals but it may become so in the future; or (b) for any other reason. S. 32(2A) inserted by No. 59/2010 s. 20(2). (2A) In the case of an application for the second renewal of an exploration licence, the Minister may only renew the exploration licence for a period of up to 5 years. (3) The renewal of a licence takes effect on the anniversary of the registration under this Act of the initial licence. Pt 2 Div. 7 (Heading) inserted by No. 63/2006 s. 19. Division 7—Changes to licences 33 Transfer of licence (1) An exploration licence must not be transferred during its first year, and a purported transfer during that time has no effect. (2) A licence (other than an exploration licence during its first year) may be transferred by an instrument approved by the Minister and not otherwise.
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