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Crown Minerals Act 1991

Permits, access to land, and other matters - Permits, access to land, and title notations - Changes to permits

41A: Notification of change of control: guarantors

You could also call this:

"Tell the Minister if a company guaranteeing your permit changes owners"

Illustration for Crown Minerals Act 1991

You must tell the Minister if a company that guaranteed your permit obligations changes control. You have three months to do this after you find out about the change. You must give the Minister some documents and statements with your notification. You need to provide a copy of the agreement that shows the change of control. You must also give a statement saying you can still pay your permit obligations. The guarantor must give a statement saying they can still pay their guarantee obligations. If the Minister asks, you must give more information about your financial situation. This can include general information or specific details about your finances. The Minister can only ask for this information within three months of you telling them about the change of control. If you do not follow these rules, the Minister can cancel your permit. The Minister can also cancel your permit if they are not sure you can pay your obligations after the change of control.

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41AG: Notification of change of control: certain permit participants, or

"Telling the Minister about changes in control of a mining or petroleum permit"

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41B: Dealings, or

"Agreements about selling or making money from minerals"

Part 1BPermits, access to land, and other matters
Permits, access to land, and title notations: Changes to permits

41ANotification of change of control: guarantors

  1. A permit participant must notify the Minister in accordance with subsection (2) if the permit participant knows, or ought reasonably to know, that a body corporate that has provided a guarantee for the permit participant’s obligations under the permit (other than a body corporate that has provided an outgoing guarantee for those obligations) has undergone a change of control.

    Guidance note

    A contravention may constitute an offence under section 100(2B)(b).

  2. The notification must be given within 3 months after the permit participant becomes aware, or ought reasonably to have become aware, of the change of control referred to in subsection (1) and must be accompanied by—

  3. a copy of any agreement or document that specifies the change of control; and
    1. a statement from the permit participant that it has the financial capability to meet its obligations under the permit; and
      1. a statement from the guarantor that it has the financial capability to meet its obligations under the guarantee.

        1. A statement for the purposes of subsection (2)(b) or (c) must be signed,—

        2. if the permit participant or guarantor is a company, on behalf of all the directors by at least 2 directors of the company or, if the company has only 1 director, by that director; or
          1. if the permit participant or guarantor is not a company, by a person responsible for the management of the permit participant or guarantor.

            1. If the Minister so requires, a permit participant must provide to the Minister information or documents relevant to the financial capability of a person A concerned (as referred to in section 41AA(2)), which may be—

            2. general information about that person’s financial capability; or
              1. information specific to the matters referred to in subsection (2)(b) and (c).

                1. However, the permit participant must comply with subsection (4) only if the Minister requests the information or documents no later than 3 months from the date on which the permit participant notifies the Minister of the change of control in accordance with this section.

                2. The Minister may revoke the permit in accordance with the procedure set out in section 39 if—

                3. subsection (1) is contravened; or
                  1. the Minister is not satisfied that, following the change of control, the permit holder has the financial capability to meet its obligations under the permit.

                    Notes
                    • Section 41A: replaced, on , by section 32 of the Crown Minerals Amendment Act 2025 (2025 No 40).