Related Party Transaction

s69 (1) When an exploration licence is surrendered or forfeited, or expires, or any part of the land the subject of the licence is surrendered in accordance with section 65, the land the subject of the licence or the part so surrendered shall not be marked out or applied for as a prospecting licence or an exploration licence —

(a) by or on behalf of the person who was the holder of the exploration licence immediately prior to the date of the surrender, forfeiture or expiry; or (b) by or on behalf of any person who had an interest in the exploration licence immediately prior to that date; or

(c) by or on behalf of any person who is related to a person referred to in paragraph (a) or (b), within a period of 3 months from and including that date.

AND 45 (2) When a prospecting licence is surrendered, forfeited or expires the land the subject of the prospecting licence or any part thereof shall not be marked out or applied for as a prospecting licence or an exploration licence — (a) by or on behalf of the person who was the holder of the prospecting licence immediately prior to the date of the surrender, forfeiture or expiry; or

(b) by or on behalf of any person who had an interest in the prospecting licence immediately prior to that date; or (c) by or on behalf of any person who is related to a person referred to in paragraph (a) or (b),

Mining Act (8) Related means: (4) For the purposes of this Act a person is related to —

(a) an individual, if the person is —

(i) a spouse or de facto partner; or

(ii) a parent, grandparent or great-grandparent; or

(iii) a child, grandchild or great-grandchild; or

(iv) a sibling,

of the individual, whether the relationship is a step relationship or a relationship established by, or traced through marriage or a de facto relationship, a written law or a natural relationship; and

(b) a body corporate, if the person is a related entity (as defined in section 9 of the Corporations Act) in relation to the body corporate.

related entity, in relation to a body corporate, is defined in the Corporations Act as means any of the f the following:

(a) a promoter of the body;

(b) a relative of such a promoter;

(d) a director or member of the body or of a related body corporate;

(e) a relative of such a director or member;

(f) a relative of a spouse of such a director or member;

(g) a body corporate that is related to the first mentioned body;

(h) a beneficiary under a trust of which the first mentioned body is or has at any time been a trustee;

(i) a relative of such a beneficiary;

(j) a relative of a spouse of such a beneficiary;

(k) a body corporate one of whose directors is also a director of the first mentioned body

(l) a trustee of a trust under which a person is a beneficiary, where the person is a related entity of the first mentioned body because of any other application or applications of this definition.