Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002)Chapter 4 : Mineral and Environmental Regulation34. Application for renewal of retention permit |
| (1) | An application for the renewal of a retention permit must be lodged in the same manner as an application for a retention permit contemplated in section 31(1) and must include— |
| (a) | an updated report of the circumstances which prevailed at the time of issuing of the retention permit; and |
| (b) | the period and reasons for the renewal being sought. |
| (2) | A retention permit may only be renewed if— |
| (a) | the holder has complied with the relevant provisions of this Act, any other relevant law and the terms and conditions of the retention permit; and |
| (b) | the market conditions contemplated in section 32(1)(d) still prevail. |
| (3) | A retention permit may be renewed once for a period not exceeding two years. |