transfer of mining lease

A mining claim grants its owner the exclusive rights to explore for minerals on a designated piece of land. Designation: 3.3. Instructions to applicants: 5. The draft rules, inviting comments & suggestions from general public and carious other stakeholders by May 25, 2016, have been posted on the ministry's website. Mining Lease\License Transfer. But there is no clarity on whether indirect transfer of captive mining leases would constitute a transfer under the mines act, thereby triggering the requirement for government approval? The amendment also expands the powers of the Central Government to make rules under this Act. The Bank for the purpose hereof unconditionally and irrevocably undertakes to pay to the State without any demur, reservation, caveat, protest or recourse, immediately on receipt of first written demand from the State, a sum or sums (by way of one or more claims) not exceeding the Guarantee Amount in the aggregate without the State needing to prove or to show to the Bank grounds or reasons for such demand for the sum specified therein and notwithstanding any dispute or difference between the State and Transferee on any matter whatsoever. For example, Nirma Limited proposed to buy Lafarge India’s cement assets from LafargeHolcim through an asset sale, but in light of the ambiguity around transfer of mining leases, the structure was later modified to a 100 percent share sale (based on the interpretation that a 100 percent share sale does not constitute transfer under the MMDR Act). Save as provided in this Clause 12, this Guarantee shall not by assignable or transferable. a. the liability of the bank under this bank guarantee shall not exceed the Guarantee Amount. Please tell me about a Lawyer in … ______________________ partial transfer of a mining lease Form AD3, Mining Act 1992 Regional NSW | DOC20/429514 - July 2020 | 3 1 Type of transfer Indicate if you are requesting a full or partial transfer. 4. (3) The transferee shall pay royalty or dead rent to the State Government as specified in the Act and the rules made thereunder. To[Address]I/ We request for seeking transfer of mining lease. 3. The Transferor has supplied to the Transferee the original or certified copies of all plans of abandoned workings in the area and in a belt sixty five metres wide surrounding it. 4. Mining leases are granted and administered under Chapters 6 and 7 of the Mineral Resources Act 1989 (“the Act”) and Chapter 2, Part 4 of the Mineral Resources Regulation 2013 (“the Regulation”). b. Provided also that no such transfer of a mining lease shall be made in contravention of any of the conditions subject to which the mining lease was originally granted. Deepchand Kishanlal and there is no change. form -12 form for transfer of mining lease 110 form -13 production, despatch & stock register 113 form -14 rawanna register 114 form -15 monthly e-return for mining lease 115 form -16 annual e-return for assessment of royalty for mining lease 116 form -17 acknowledgement of receipt of annual e-return for assessment of royalty 117 form -18 rawanna 118 form -19 application for … Now this Deed Witnesseth as Follows: Mines & Geology Division Ministry of Transport & Mining. A production tenement may be transferred from the current tenement holder to an individual or registered business entity. Apart from the transfer charges payable by the transferee equal to 80% of the royalty, the … In terms of the Concession Documents, the Transferor is entitled to search for, win and work mines and minerals in respect of (Name of minerals) in the lands described in the schedules to the Concession Documents (more particularly set out in Annexure B), for the term and subject to the payment of the rents and royalties and observance and performance of the Transferor's covenant and conditions in the Concession Documents including a covenant not to transfer the mining lease in violation of applicable laws. Provided that no such order shall be made without giving the holder of the mining lease a reasonable opportunity of stating his case. Notwithstanding anything contained herein. The Bank further unconditionally agrees with the State that the State shall be at liberty, without the Bank’s consent and without affecting in any manner the Bank’s obligation under this Guarantee, from time to time to: (i) vary and/or modify and of the terms and conditions of the Concession Document; (ii) extend and / or postpone the time for performance of the obligations of the Transferee under the Concession Document, or. The government, however, would allow transfer of leases … Transferring a lease or licence. *T&C apply. 11/2017 (Rate), dated 28.06.2017, attracting GST at the same rate as applicable for the supply of like goods involving transfer of title in goods, … Payment can be made by credit card, in cash, by cheque or by money order payable to the … Annexure A: Transfer charges payable by the transferee shall be an amount equal to eighty per cent. address: Hope Gardens, Kingston 6 phone: (876) 927-1936 e-mail us: Click Here. 10. Name: (2) The transferee shall make payments of the transfer charges as referred to in sub-rule (1), to the State Government simultaneously with payments of royalty. Transfer of mining lease. Mines and Minerals (Development and Regulation) Act. of the reassessed value of estimated resources. of the value of the estimated resources. A. 1. Mining Lease: A mining lease is a form of mineral title that entitles the lease holder to minerals within and under a defined leasehold area. It was held that Amount received by assessee from his father out of sum received by father for transfer of mining lease right to a Company in which assessee was shareholder cannot be treated as deemed dividend income of the assessee under section 2(22)(e) as sum was not received on behalf of Assessee and it was for a commercial transaction. 11/04/2011. of the royalty paid in terms of Second Schedule to the Act. (2) They shall come into force on the date of their publication in the Official Gazette. Schedule III, (Format of Deed for Transfer of Mining Lease), The Transfer Deed ("Deed") is made on this [day] day of [month], [year] between: Also I want to know that whether fresh environmental clearance is required? Titles Management System. 6. ©TV18 Broadcast Limited. of the value of estimated resources, and the performance security may be invoked by the State Government as per the terms and conditions of the Mine Development and Production Agreement. If you cannot find them, then contact the party you contracted with. For mining and petroleum lease: have been paid For assessable transfer applications: Assessment by the Office of State Revenue has been made and if applicable transfer duty has been paid (Not applicable for mining lease application) For small scale mining activity exploration . (3) Any approval for transfer of a mining lease granted otherwise than through auction which is being used for captive purpose shall be subject to the following conditions, namely:– Reliance may be placed on the Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules 2016 which provide a wide and inclusive definition of ‘transfer’ and state that ‘transfer’ is defined broadly enough to cover indirect transfers. there application for transfer of the present mining lease specifying therein the amount that they have already taken as consideration from the transferee. Mines secretary Balvinder Kumar said the transfer of mining lease was allowed keeping in view the government’s commitment of enhancing the ease of … Other than for captive use, non-auctioned mining leases cannot be transferred by the lease holder. You can choose to transfer … Help us improve! Centaurus Metals (ASX Code: ) is pleased to CTM advise that the formal transfer of the Mining Lease Application covering its 100%-owned Jaguar Nickel Sulphide Project in north-eastern Brazil from Vale Metais Básicos S.A. (“Vale”) to Centaurus’ Brazilian subsidiary, Aliança Mineração Ltda(“Aliança”) , has been completed. FULL TEXT OF THE HIGH COURT … In witness whereof the parties hereto have signed on the, date and year first above written. A key deliverable of the NSW Minerals Strategy, the NSW Government is developing a fit-for-purpose platform for end … 39 Modal Form For Transfer of Mining Lease 15. Currently, you can only make an online request for an exclusion of time if you have an early exploration permit application that is on temporary hold, for a mining claim that is in good … Any lessee may renew his mining lease for a 10-year period. The Shell Petroleum Development Company of Nigeria Limited (SPDC), has completed the sale of its 30% interest in Oil Mining Lease (OML) 17 in the … (4) The transferee shall contribute such amounts to the designated account of the National Mineral Exploration Trust as specified in rule 7 of the National Mineral Exploration Trust Rules, 2015, and the designated account of the District Mineral Foundation as specified in the Mines and Minerals (Contribution to District Mineral Foundation) Rules, 2015. In the Gotan Case, the court relied on the ‘substance over form’ argument while distinguishing between a real share sale transaction and an apparent transaction structured with the intent of bypassing the transfer regime under the MMDR Act. In 2016, the mines act was relaxed to permit government approved issuance and transfer of mining leases being ‘used for captive purpose’, without undergoing an auction process. The State Government shall inform the Controller General, Indian Bureau of Mines in writing about the transfer made under rule 5. KOLKATA: The mines ministry has notified draft rules on terms and conditions and the transfer charges for transfer of mining lease (ML) granted otherwise than through auction for captive purposes through the MMDR (Amendment) Act, 2016. All exploration and mining activity in New South Wales (NSW) must be conducted under an exploration, assessment or mining title. G.S.R. (12) The State Government shall execute a mining lease deed with the transferee in the format given in Schedule VII appended to the Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016, within ninety days of registration of the deed for transfer of mining lease referred in sub-rule (9). This guarantee will not be discharged due to the change in the constitution of the Bank. Mining leases are granted and administered under Chapters 6 and 7 of the Mineral Resources Act 1989 (“the Act”) and Chapter 2, Part 4 of the Mineral Resources Regulation 2013 (“the Regulation”). C. The Transferor has, pursuant to its transfer application letter dated [date], requested the State Government for its approval in connection with transfer of the Mining Lease to the Transferee. (Bank Stamp) 3.2. 560(E), dated 30th May, 2016. Provided further that if the State Government does not convey its decision for such transfer within a period of ninety days from the date of receiving an application under sub-rule (1), the State Government shall be deemed to have approved such transfer: Any interest therein can transfer it with the provisions of the Bank has the power to issue Guarantee! If the application for Renewal before the 60 days preceding that Date, the lessee will to... 876 ) 927-1936 e-mail us: Click Here on a designated piece of land ( ). 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