40Surrender of permit

1. A permit holder may apply to the chief executive to surrender a permit or any part of it by—

2. lodging an application; and
3. paying any money the permit holder owes to the Crown under this Act; and
4. providing information and records as required by the permit, this Act, or the regulations.

5. Unless the Minister considers it is in the interests of the Crown to acquire the permit for the purposes of reallocation or otherwise (in which case the permit vests in the Crown as if it were personal property), the surrender—

6. must be accepted by the chief executive if everything is in order and, in the case of a partial surrender, the Minister has approved the area to be surrendered under subsection (7A); and
7. takes effect when the chief executive accepts it.

8. Despite subsection (1)(b) and (c), the chief executive may accept a surrender application even though the permit holder has not paid to the Crown all the money owing to the Crown or has not provided to the chief executive all the information and records required to be provided.

9. For the purposes of subsections (5) and (6), if a permit vests in the Crown under this section,—

10. the permit is deemed to have been surrendered under this section; and
11. the date on which the permit is deemed to have been surrendered,—
    1. for the purposes of subsection (5), is the date that the surrender application was lodged; and
    2. for the purposes of subsection (6), is the date of the Minister's decision under subsection (2).

12. The consent of the Minister under section 41 shall not be required to the transfer of a permit under this section.

13. Where a permit is surrendered in whole or in part and payments have been made to the Crown under the permit or under this Part, the permit holder shall be entitled to a refund of so much of the payments as have been made in respect of—

14. the remaining part of the period subsequent to the date of the surrender; and
15. the land surrendered.

16. The surrender of a permit shall not release the permit holder from any liability in respect of—

17. the permit up to the date of the surrender; and
18. any act under the permit up to the date of surrender giving rise to a cause of action.

19. If a permit is being surrendered in part only, the form of surrender shall be accompanied by a plan that has the land in respect of which part of the permit is being surrendered clearly delineated and identified on it.

20. The Minister may approve the area to be surrendered, with or without amendment, as he or she thinks fit.

21. The surrender of only part of a permit shall, on acceptance, be endorsed on the permit by the chief executive.

22. On acceptance, the chief executive must lodge a surrender of a permit, whether in whole or in part, with—

23. the Registrar-General of Land, if the permit was granted before 21 August 2003 and was a permit other than in respect of petroleum:
24. the Registrar of the Māori Land Court, if the permit was granted in respect of Māori land and—
    1. the permit was granted before 21 August 2003 and was a permit other than in respect of petroleum; or
    2. the permit was granted on or after 21 August 2003.

25. Repealed

26. Every right, title, and interest held under a permit that has been surrendered under this section shall end in respect of the land to which the permit related, or in respect of that part of the land in relation to which the permit is surrendered, as the case may be, on the date on which the chief executive accepts the surrender.