Commonwealth Numbered Regulations - Explanatory Statements

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OFFSHORE MINERALS (MINING LICENCE FEES) REGULATIONS 1994 NO. 52

STATUTORY RULES 1994 No. 52

Issued by the Authority of the Minister for Resources

OFFSHORE MINERALS (MINING LICENCE FEES) ACT 1981

OFFSHORE MINERALS (MINING LICENCE FEES) REGULATIONS

Section 7 of the Offshore Minerals (Mining 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 a mining licence holder must pay a 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 fee is not to exceed $1,000 per 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 $200 for each block covered by the licence.