Category: Paragraph 67C (Eighth Schedule) – Mineral rights conversions and renewals

Paragraph 67C

 

  1. Subparagraph (a) substituted by section 145 of Act 31 of 2013 effective on 12 December 2013.

 

  1. Subparagraph (b) substituted by section 145 of Act 31 of 2013 effective on 12 December 2013.

 

  1. Paragraph 67C inserted by section 111 of Act 45 of 2003.

Paragraph 67C (Eighth Schedule) – Mineral rights conversions and renewals

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67C.    Mineral rights conversions and renewals

 

Notwithstanding paragraph 11, there is no disposal where-

 

(a)     any old order right or OP26 right as defined in Schedule II of the Mineral and Petroleum Resources Development Act wholly or partially continues in force or is wholly or partially converted into a new right pursuant to the same Schedule; or

 

(b)     any prospecting right, mining right, exploration right, production right, mining permit, retention permit or reconnaissance permit, as defined in section 1 of the Mineral and Petroleum Resources Development Act is wholly or partially renewed in terms of that Act,

 

and the continued, converted or renewed right or permit will be treated as one and the same asset as the right or permit before continuation, conversion or renewal for purposes of this Act.