Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 124-710 Meaning of prospecting entitlement and mining entitlement 124-710(1)
A prospecting entitlement is:
(a) an authority, licence, permit or entitlement under an *Australian law or *foreign law to prospect or explore for *minerals in an area; or
(aa) an authority, licence, permit or entitlement under an Australian law to prospect or explore for *geothermal energy resources in an area; or
(b) a lease of land that allows the lessee to prospect or explore for minerals or geothermal energy resources on the land; or
(c) an interest in a thing referred to in paragraph (a), (aa) or (b).
124-710(2)
A mining entitlement is:
(a) an authority, licence, permit or entitlement under an *Australian law or *foreign law to mine for *minerals in an area; or
(aa) an authority, licence, permit or entitlement under an Australian law to extract energy from *geothermal energy resources in an area; or
(b) a lease of land that allows the lessee to mine for minerals, or extract energy from geothermal energy resources, on the land; or
(c) an interest in a thing referred to in paragraph (a), (aa) or (b).
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