(1)  A person may apply to the Minister for a retention licence.

(1A)  A person may only apply under subsection (1) for a retention licence if –

(a) the licence is to relate to both –

(i) a mineral, or a category of minerals, specified in an exploration licence or lease; and

(ii) any area of land comprised in that exploration licence or lease; and

(b) the person is the holder of the exploration licence or lease or is a person to whom a consent under section 48(1) in relation to that licence or lease has been given by the holder of the licence or lease.

(2)  An application is to –

(a) be in an approved form; and

(b) be accompanied by the prescribed fee; and

(c) contain any other prescribed details; and

(d) be lodged with the Registrar.

(3)  The Registrar or Director or both may require an applicant to provide further information.