Industry may start to notice changes in the way it actions non-compliance for the late payment of rent.
| Date: | Wednesday, 28 September 2022 |
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Notices of intent to forfeit (otherwise known as a Regulation 49 or Regulation 50 notice, depending on the tenement type) issued in accordance with the Mining Act, have historically been actioned from on or around the same time of the month.
From mid-July 2022 onwards, DMIRS will issue non-compliance notices on all late payments using ‘real time’. It is important for tenement holders to be aware of their tenement anniversary dates and to pay their rent on time to avoid a possible forfeiture process being initiated.
This approach is consistent with the compliance procedure for other obligations, for example, the submission of Form 5 Operational Reports.
This is a timely reminder for tenement holders to ensure their tenement contact information is up to date and that they are aware of their obligations under the Mining Act 1978. The following (non-exhaustive) list is an example of these obligations:
- the paying of rent;
- the lodgement of annual Form 5 Operations Reports;
- the lodgement of Mineral Exploration Reports;
- notification of discoveries of economic significance;
- lodgement of Annual Environmental Reports;
- review of Mine Closure Plans; and
- meeting of tenement conditions imposed on grant, including expenditure conditions.
