Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p5
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 10598–13347

acquisition by the person of
qualifying interests in relation to the authority before the
test time;
exceeds:
    (iii) the sum of all amounts (if any) specified in
agreements made (including at a time after the test time) under
subsection (5) in relation to the acquisition from the person
of qualifying interests in relation to the authority before the
test time;
the person is taken to have at the test time in relation to the
authority an entitlement to an 'eligible cash bidding amount'
equal to the amount of the excess referred to in paragraph (b).
When a mining authority is "related" to an exploration or
prospecting authority
  "(8) A mining authority is 'related' to an exploration or
prospecting authority if:
  (a) because of the grant of the mining authority, the
exploration or prospecting authority ceases to be in force in
respect of the whole or part of the area in respect of which
the mining authority is granted; or
  (b) because of the grant of the mining authority, a retention
authority that is related to the exploration or prospecting
authority ceases to be in force in respect of the whole or part
of the area in respect of which the mining authority is
granted.
When a retention authority is "related" to an exploration or
prospecting authority
  "(9) A retention authority is 'related' to an exploration or
prospecting authority if, because of the grant of the retention
authority, the exploration or prospecting authority ceases to
be in force in respect of the whole or part of the area in
respect of which the retention authority is granted.
Effect of renewal of authority
  "(10) If an exploration or prospecting authority (the
'original authority') or a retention authority (also the
'original authority') is renewed, the renewed authority is
taken to be a continuation of the original authority, even if
the renewal is not granted in respect of all of the area in
respect of which the original authority was granted.
Definition of "qualifying interest"
  "(11) A person has a 'qualifying interest' in relation to an
exploration or prospecting authority if the person is the
holder of, or of an interest in, the authority or a retention
authority that is related to it.
Definitions
  "(12) In this section:
  'cash bidding exploration or prospecting authority' means an
exploration or prospecting authority in respect of which an
exploration or prospecting cash bidding payment is or was made;
  'exploration or prospecting authority' means any permit,
licence, lease or other authority (other than a mining
authority) that:
  (a) is granted under a law of the Commonwealth, a State, a
Territory or a foreign country; and
  (b) authorises exploration or prospecting for minerals other
than petroleum, whether or not