12
CAP. 285]
Requirements as to capital.
Duration and renewal of mining lease.
Mining.
[1964 Ed.
not command sufficient working capital to ensure the proper development and working of the area applied for, the person who obtains a mining lease in respect of the area, if he has not himself adequately prospected or mined the same under licence, shall compensate such other person in such an amount as shall be determined by the Land Officer.
(2) Any amount so determined may be recovered by the person entitled thereto by civil action, and in such action a certificate under the hand of the Land Officer specifying the amount of compensation so determined shall, without further proof, be received as conclusive evidence of the amount thereof.
(3) A mining lease shall specify the area and the minerals in respect of which it is granted, and shall be subject to such rentals, fees, royalties, premiums and other payments as may be prescribed, and shall contain such covenants and conditions and shall be in such form, as the Land Officer may determine.
23. (1) An applicant for a mining lease shall satisfy the Land Officer that he commands sufficient working capital to ensure the proper development and working of the area applied for, and the Land Officer may require the applicant to furnish a guarantee of a bank or person approved by the Land Officer, for such amount and in such form as he may determine.
(2) In the event of the applicant failing to satisfy him as aforesaid or, when so required, to furnish a guarantee to the satisfaction of the Land Officer, the Land Officer may refuse the application, but the applicant may make a fresh application at any time.
24. (1) A mining lease may be granted for such term not being more than twenty-one years as the Land Officer may determine. (Amended, 33 of 1960, s. 13)
(2) If, during the term originally granted or any renewal thereof-
(a) the lessee has carried on work in a normal and business-like manner;
(b) the lessee has in all respects performed and observed all the terms and conditions of the lease; and
(c) the lessee has given to the Land Officer not less than six months' prior notice in writing of his desire to obtain renewal of the lease,
the lessee may be granted, on payment of the prescribed fee and subject to the provisions of this section, a renewal of the lease for such term as may be approved by the Land Officer, not exceeding twenty-one years, upon the conditions and subject to such rentals,