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Surrender of licences
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45. (1) Every prospecting licence and retention licence is subject to the condition that the licensee may not surrender the licence concerned without the prior written approval of the Minister.
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(2) The Minister shall approve the surrender of a licence if—
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(a) the licensee submits an application in the prescribed form,
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(b) the applicant provides the prescribed information and any additional information required by the Minister,
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(c) the licensee satisfies the Minister that there are no outstanding rehabilitation or environmental issues in relation to the land that is subject to the licence,
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(d) the disposal of any drill cores and other material produced through the prospecting has been carried out to the satisfaction of the Minister, and
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(e) the licensee has—
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(i) complied with the condition to submit reports on the prospecting it has conducted, and
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(ii) submitted a report setting out the status of its exploration programme as close as is practicable to the date of the proposed surrender.
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