| (1) | Subject to subitems (2) and (8), any old order prospecting right in force immediately before this Act took effect continues in force for a period of two years from the date on which this Act took effect subject to the terms and conditions under which it was granted or issued or was deemed to have been granted or issued. |
| (2) | A holder of an old order prospecting right must lodge the right for conversion within the period referred to in subitem (1) at the office of the Regional Manager in whose region the land in question is situated together with— |
| (b) | a sketch plan or diagram depicting the prospecting area for which the conversion is required, which area may not be larger than the area for which he or she holds the old order prospecting right; |
| (c) | the name of the mineral or group of minerals for which he or she holds the old order prospecting right; |
| (d) | a affidavit verifying that the holder is conducting or has conducted prospecting operations immediately before this Act took effect on the area of that land to which the conversion relates and setting out the periods during which such prospecting operations were conducted and the results thereof; |
| (f) | information as to whether or not the old order prospecting right is encumbered by any mortgage bond or other right registered at the Deeds Office or Mining Titles Office; |
| (g) | a statement setting out the terms and conditions which apply to the old order prospecting right; |
| (h) | the original title deed in respect of the land to which the old order prospecting right relates, or a certified copy thereof; |
| (j) | all prospecting information and the results thereof to which the right relates. |
| (3) | The Minister must convert the old order prospecting right into a prospecting right if the holder of the old order prospecting right— |
| (a) | complies with the requirements of subitem (2); |
| (b) | has conducted prospecting operations in respect of the right in question; |
| (c) | indicates that he or she will continue to conduct such prospecting operations upon the conversion of such right; |
| (e) | has paid the prescribed conversion fee. |
| (4) | No terms and conditions applicable to the old order prospecting right remain in force if they are contrary to any provision of the Constitution or this Act. |
| (5) | The holder must lodge the right converted under subitem (3) within 90 days from the date on which he or she received notice of conversion at the Mineral and Petroleum Titles Registration Office for registration and simultaneously at the Deeds Office or the Mineral and Petroleum Titles Registration Office for deregistration of the old order prospecting right, as the case may be. |
[Item 6(5) of Schedule II substituted by section 82 of the Mineral and Petroleum Resources Development Amendment Act, 2008]
| (6) | If a mortgage bond has been registered in terms of the Deeds Registries Act, 1937 (Act No.47 of 1937), or the Mining Titles Act, 1967 (Act No. 16 of 1967), over the old order prospecting right, the prospecting right into which it was converted must be registered in terms of this Act subject to such mortgage bond, and the relevant registrar must make such endorsements on every relevant document and such entries in his or her registers as may be necessary in order to give effect to this subitem, without payment of transfer duty, stamp duty, registration fees or charges. |
| (7) | Upon the conversion of the old order prospecting right and the registration of the prospecting right into which it was converted, the old order prospecting ceases to exist. |
| (8) | If the holder fails to lodge the old order prospecting right for conversion before the expiry of the period referred to in subitem (I), the old order prospecting right ceases to exist. |
