Commonwealth Numbered Regulations - Explanatory Statements

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OFFSHORE MINERALS (EXPLORATION LICENCE FEES) REGULATIONS 1994 NO. 49

EXPLANATORY STATEMENT

STATUTORY RULES 1994 No. 49

Issued by the Authority of the Minister for Resources

OFFSHORE MINERALS (EXPLORATION LICENCE FEES) ACT 1981

OFFSHORE MINERALS (EXPLORATION LICENCE FEES) REGULATIONS

Section 7 of the Offshore Minerals (Exploration Licence Fees) Act 1981 (the Act) provides that the Governor- General may make regulations prescribing matters either required, permitted, necessary or convenient for the purposes of the Act.

Subsection 4(1) of the Act provides that an exploration licence holder must pay fee for each year of the term of the licence. Subsection 4(2) provides that the amount of the fee is to be calculated in accordance with the regulations. Subsection 4(3) provides that the amount of the fee is not exceed which ever is the greater of $2,000 or $100 for each block covered by the licence at the beginning of the year.

The purpose of the fee is to recover the costs of administering the Offshore Minerals legislation. In accordance with the Offshore Constitutional Settlement agreed to by the Commonwealth and the States at the Premiers' Conference in June 1979 the money collected from the fee will be paid by the Commonwealth to the States and the Northern Territory to recompense them for administering the legislation on behalf of the Commonwealth.

The proposed Regulations prescribe the amount of the fee.

Details of the proposed Regulations are as follows:

Regulation 1 provides a reference name for the Regulations.

Regulation 2 defines the terms used in the Regulations.

Regulation 3 provides that the annual fee will be $600 or $20 for each block covered by the licence, whichever is the greater at the beginning of the year.


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