Mineral Exploration and Investment Grants Act 1972
| Year | 1972 |
Mineral Exploration andInvestment Grants Act 1972
1972 CHAPTER 9
An Act to authorise the giving of financial assistance in connection with mineral exploration, and to clarify or extend certain exceptions from the abolition of investment grants.
[24th February 1972]
Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
1 Contributions in respect of mineral exploration.
(1) Subject to the following subsections, there shall be defrayed out of money provided by Parliament any payments made by the Secretary of State by way of contribution towards expenditure incurred on searching for, or on discovering and testing, mineral deposits in Great Britain or in the sea bed and subsoil of the territorial waters of the United Kingdom adjacent to Great Britain or in that of any area for the time being designated under section 1(7) of the Continental Shelf Act 1964 .
(2) The amount paid out of moneys provided by Parliament under this section shall not exceed 25 million or such larger sum, not exceeding 50 million, as the Secretary of State may specify by order made by statutory instrument; but an order shall not be made in pursuance of this subsection unless a draft of the order has been approved by a resolution of the House of Commons.
(3) It shall be a condition for the making of a contribution in pursuance of this section in respect of any operations that the person applying for the contribution shall have agreed that geological information obtained in the carrying out of the operations will be communicated (in appropriate form and detail) to the Secretary of State and, for the purposes of the geological survey of Great Britain, to the Natural Environment Research Council.
(4) This section shall not authorise the making by the Secretary of State out of moneys provided by Parliament of contributions towards expenditure on any operations, unless he is satisfied that planning permission for those operations was obtained or that it was not necessary to obtain it.
(5) This section shall not authorise the making by the Secretary of State out of moneys provided by Parliament of contributions towards any expenditure which exceed 35 per cent. of that expenditure; but any payment made by him in pursuance of this section may be made on such terms...
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