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.

Temporary relief from mineral reserve payment obligations

2   A mineral reserve is established over the area of land identified by site number 1006902 and site name New Prosperity Mineral Titles to relieve the recorded holder from the following obligations from January 1, 2021 until December 31, 2021:

(a) the obligations under section 29 of the Act to, in order to hold a claim from year to year,

(i) do exploration and development and register a statement of the exploration and development, or make payments instead of exploration and development, and

(ii) register a revised expiry date;

(b) the obligation under section 50 of the Act to pay the prescribed annual rental.

Repeal

3   This regulation is repealed on January 1, 2022.