M-13 - Mining Act

Full text
151. If expenditures in exploration work exceed the amount required to be spent during any year, such excess shall be applicable to subsequent years, provided that a detailed statement, certified by a chartered accountant, has been delivered in duplicate to the Minister within 90 days of the end of the year during which it was done.
If the licensee has renounced part of the territory, the excess cost of work done prior to the renunciation shall be proportionally reduced.
1965 (1st sess.), c. 34, s. 150.