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),


(b) in the case of a licensee that is an individual, the licensee dies, is adjudicated bankrupt or becomes an arranging debtor.