Minerals Development Act 2017
|
Termination of licences | ||
|
44. Every prospecting licence and retention licence terminates when— | ||
(a) in the case of a licensee that is a body corporate— | ||
(i) the licensee commences a voluntary winding-up or becomes subject to a winding-up order, | ||
(ii) a receiver or examiner is appointed to the licensee, | ||
(iii) the licensee proposes a compromise or arrangement that is sanctioned under section 453 (2) of the Companies Act 2014 or section 201 (3) of the Companies Act 1963 , or | ||
(iv) where the body is incorporated under the laws of another state, on the commencement of any event which corresponds to an event referred to in subparagraph (i), (ii) or (iii), | ||
and | ||
(b) in the case of a licensee that is an individual, the licensee dies, is adjudicated bankrupt or becomes an arranging debtor. |