Mining (Amendment) Act (No. 8 of 1980)

/ ,..: ! . ,,,) _: ACT No. 8 OF !~SD MINING (AMENDMENT) ACT 1980 1 o~llont. A CHUNG, President. 29th Augusl, J 980. ARRANGEMENT OF SECTIONS Short tiUe and commencement. Addition of section 87 in the Principal Ad. f'l1te 38C. TO be putolJMed from tlle M~t11stry of lnformatioll, t..eorgetown, Guyuna. 2 THE LAWS OP GUYANA IA.D. 1980 AN ACT to amend the- Mining Act to empowel' the Minister to enter into_ agreements with the United Nations Revolving li'und for Natural Resour('es Exploration and to charge upon the Consolidated Fund any financial contdhutiom, arising under any such ag1·eement for replenishment of such Fund. 11..lJ. )930 Enacted by the Parlfameut of Guyann:-- Sl!Ol't title 1. This Ai::t, wbich amends the MitUng Adi may be cited """ ""JU• a:, tlw Mining (Ameutllw.miJ Ad 1960, aml. i;hall be deelllt:d to n1.011cmnent, Cap. 65:01 have come into operilti.on on 1st JtlJy, J.980. Z. The Principal Act is hereby amended by the addition .,. Ad,lltJon M seetlon 87 ln tl,~ PrJ110IP~l after sect.ion 86 of the following section -- ', ,\ l\~ile\t1.t1,l½ l1ttween tlw Govornt'l&ent and the 87. (1) Subject l[) this St~ttiOl), the Mlnister on behalf of the Government may enter into any agree~ \lll\~i\ ment with the United Nations Revl>lving Fund for Nation~ Re'IOlvb,g Natural ResourC'.es 'Exploration (hereinafter called r,'un<'I {<..- the "F'und'') whereby - Naturn\ nes0>1r~es £'.i:11hn·~Uo1>. (a) the Fund is granted exptoration right~ in respect of such minerals (including those (IC<',urring naturally in or on the earth, whether in solid, liquid or gaseous form. which have been formed by ot subject to geological processes) and such areas as mav be specH'l.ed in the agree,ment :md on such terms and canclitions as the Minister shall think fit: c1nd (b) the Government is liahle to make financial con~ tributions (known as "replenishment contribu• tions") to the Fund on sueb basis and at such times as may be specified in the agreement. (2') Replenishment contributions shall be chtu·ged upon the Consolidated Fund.". Passed by the National Assembly on the 15th of August, 1980. F. A. Narain, Cterk of th~ National Ass<:mb\y.

(Bill No. 10/1980) (ENR: 6/28/1 1~