126(1)Land withdrawn from prospecting and staking for all or certain minerals under section 15 of the previous Act or any predecessor of that section and which continues to be so withdrawn immediately before the coming into force of this section shall be deemed to be land withdrawn from prospecting and staking under section 25 of this Act and the previous Act or any predecessor of that Act has no further application.

126(2)Where immediately before the coming into force of this Act land withdrawn from prospecting and staking under section 15 of the previous Act or any predecessor of that section is being worked, licensed or leased under an agreement or arrangement under subsection 15(2) of that Act or any predecessor of that subsection, the agreement or arrangement, and any licence issued or lease entered into under such agreement or arrangement, continue and shall be deemed to be agreements under section 25 of this Act and the previous Act or any predecessor of that Act has no further application unless the agreement, arrangement, licence or lease otherwise provides.