(1) On granting an application for a licence, the Minister is to issue a retention licence.(2) A licence is to (a) be in an approved form; and(b) include the following particulars:(i) a description of the area of land comprised in the licence;(ii) the total area of that land;(iii) the minerals, or category of minerals, to which the licence relates;(iv) the terms and conditions to which it is subject;(v) the period for which it is in force.(3) A licensee is to pay rent to the Crown in respect of the land comprised in the licence at a prescribed rate and in a prescribed manner.