Definitions

1   In this regulation:

"Act" means the Mineral Tenure Act;

"land" includes foreshore and land covered by water;

"site number" means the site number given in the registry to a particular area of land shown on an electronic map in the registry;

"specified period" means the period beginning on the date that this regulation comes into force and ending on January 1, 2024.

Temporary relief from obligations

2   A mineral reserve is established over the area of land identified by site number 1006996 and site name New Prosperity Mineral Titles No. 3 to relieve the recorded holder of a mineral title in the mineral reserve from the following obligations:

(a) if the mineral title is a claim with an expiry date during the specified period, the obligations under section 29 of the Act that the recorded holder would otherwise be required to meet in order to hold the claim for a further one-year period after that expiry date;

(b) if the mineral title is a lease with a rental year that ends during the specified period, the obligation under section 50 (1) of the Act to pay, before the end of that rental year, the prescribed annual rental for the next rental year.

Repeal

3   This regulation is repealed on January 1, 2024.