Applicant must show sufficient working capital.
14. The Governor may require an applicant for a mining lease to show to his satisfaction that he possesses or commands sufficient working capital to ensure the proper development and working of the mine; and may require any reports on the matter made by competent engineers to be submitted for his information. In the event of such applicant failing to satisfy the Governor as aforesaid, the Governor may refuse the application, but the applicant may renew his application at any time.
Giving false information as to above matters an offence.
15. Any applicant for a mining lease wilfully or recklessly giving false information as to any of the matters in respect of which information is or may be required to be given under this Proclamation shall be guilty of an offence, and shall be liable on conviction to a fine not exceeding £50 or to imprisonment for a term not exceeding six months.
Duration of lease.
16.—(1) A mining lease may be granted for any term not exceeding 21 years.
Renewal.
(2) If at the expiration of the term originally granted the lessee or his assigns shall be carrying on work in a normal and business-like manner under the lease, and the lease shall not at that time be liable to be declared void under any of the provisions of this Proclamation, and the lessee or his assigns shall have given to the Government six months’ notice in that behalf, then the lessee or his assigns shall be entitled to obtain a renewal of the lease for a further term not exceeding 21 years, upon the conditions which are then generally applicable to new mining leases.
Different kinds of mining leases.