Schedule, part 3, The Bayer Preussag Agreement 1973 (Ratification) Act, 1974

(b) a period of not more than three years after the grant of the lease shall constitute the Commencement of Mining operations under the lease for the purposes of this agreement: Provided that in case (a) the Companies promptly furnish to the Director of Mines notification to that effect. 2. SPECIAL EXCLUSIVE PROSPECTING LICENCE (1) The Government hereby acknowledge the grant of S.E.P.L. 2070 granted to the Companies on 1st day of October, 1970 (hereinafter referred to as " The Licence ") for all titanium-bearing and associated minerals within the prospecting areas described in the Second Schedule attached to the Licence. (2) The provisions of the Minerals Act relating to exclusive prospecting licences shall apply to the Licence granted hereunder except to the extent inconsistent with the Special provisions incorporated in this Agreement under the authority granted to the President in Section 22 of the Minerals Act. A 144 No. 21 Bayer Preussag Agreement 1973 (Ratification) 1974