147. A non-exclusive lease is effective from the date the registrar issues a certificate of registration of the lease and ends on 31 March of the year following the year in which the certificate of registration is issued.
The Minister shall renew a non-exclusive lease, no more than 10 times, for one-year periods, provided the lessee
(1) applies therefor before the date of expiry of the lease;
(2) has paid the rental prescribed by regulation;
(3) has complied with this Act and the regulations throughout the previous term of his lease and, particularly, has made the reports required under section 155;
(4) has met any other renewal requirement prescribed by regulation.
The Minister may extend the term of a lease following the tenth renewal, for one-year periods.
Notwithstanding the foregoing, the renewal shall be refused where the land concerned was, during the preceding term of the lease, subject to a mining lease held by a third person.
1987, c. 64, s. 147; 1990, c. 36, s. 7; 1998, c. 24, s. 68; 2013, c. 32, s. 68.