Malaysia legislation
Section 60
Section 60
(1)
An application to surrender a prospecting licence or exploration licence shall be made to the Director in the prescribed form.
(2)
The liability of the holder of a prospecting licence or exploration licence –
(a)
to pay any fee, royalty, penalty or other money that is payable on or before the date of surrender;
(b)
to perform any obligation required to be performed on or before the date of surrender; and
(c)
for any act done or default made on or before the date of surrender, shall not be affected by the surrender of the licence under subsection (1)
37
Restriction on application for a prospecting licence or exploration licence.