A claim for compensation in respect of an exploration licence or retention licence for compensable loss which is not the subject of a compensation agreement is to be made not later than 3 months after whichever of the following occurs last:

(a) work or mining which caused the compensable loss ceases;

(b) the licence under the authority of which the compensable loss occurred ceases to be in force;

(c) the affected land ceases to be occupied.