- When the ownership of a prospecting license-cum-mining lease or a mining lease is transferred as per provisions of Act or any rules made thereunder, the previous owner or his agent shall make over to the new owner or his agent within a period of seven days of the transfer of the ownership, borehole cores along with records and samples preserved, if any, all plans, sections, reports, registers and other records maintained in pursuance of the Act, rules or orders made thereunder, and all correspondence relevant thereto relating to the prospecting license-cum-mining lease or mining lease; and when the requirements of these rules have been duly complied with, both previous and the new owners or their respective agents shall forthwith send to the State Government and the authorised officer, as the case may be, a detailed list of borehole cores, plans, sections, reports, registers and other records that have been transferred.