147. A non-exclusive lease is effective from the date the registrar issues a certificate of registration of the lease. It ends on 31 March of the year that is one, two or three years after the year in which the lease began, at the applicant’s choice.
The lease is renewed for one-, two- or three-year periods, at the lessee’s choice, for a total term not exceeding 10 years from 31 March of the year following the year in which the certificate of registration of the lease is issued, provided that the lessee(1) applies for renewal 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 term that is ending and, in particular, has made the reports required under section 155;
(4) has met any other renewal requirement prescribed by regulation.
However, the lease may not be renewed if, during the term of the preceding lease, the land concerned was subject to a mining lease in favour of a third person.
The Minister may extend the lease following the last renewal for one-year periods.
1987, c. 64, s. 147; 1990, c. 36, s. 7; 1998, c. 24, s. 68; 2013, c. 32, s. 68; 2023, c. 242023, c. 24, s. 1401.