Petroleum and Minerals Authority (Remuneration) Regulations

Overview

The Petroleum and Minerals Authority (Remuneration) Regulations 1974, made under the authority of the Petroleum and Minerals Authority Act 1973, were introduced to establish the remuneration and allowances for the Executive Member of the Petroleum and Minerals Authority. These regulations were enacted by the Governor-General of Australia, acting on the advice of the Executive Council, and notified in the Australian Government Gazette on 13 August 1974. The primary purpose of these regulations is to ensure that the Executive Member is compensated appropriately for their role in overseeing the petroleum and minerals sectors within Australia. The policy objective underpinning these regulations is to provide a clear and transparent framework for the remuneration of key personnel within the regulatory body, thereby supporting the effective administration and governance of the petroleum and minerals industry.

Scope and Application

The Petroleum and Minerals Authority (Remuneration) Regulations 1974 apply specifically to the Executive Member of the Petroleum and Minerals Authority, a body established under the Petroleum and Minerals Authority Act 1973. The regulations determine the remuneration and allowances payable to this individual, setting the annual salary at $29,250 and an annual allowance of $1,750. The scope of the legislation is narrowly focused on the financial compensation of a single high-ranking official within the Authority, and does not extend to other employees or entities within the industry. These regulations are made under the authority granted by the Petroleum and Minerals Authority Act 1973 and apply within the jurisdiction of the Commonwealth of Australia, reflecting the federal nature of resource management in the country. There are no stated exclusions, exemptions, or thresholds in these particular regulations, and they do not extend or restrict the application of the parent Act through subordinate instruments.

Key Provisions

The Petroleum and Minerals Authority (Remuneration) Regulations (1974) specify the financial compensation for the Executive Member of the Petroleum and Minerals Authority, under the Petroleum and Minerals Authority Act 1973. According to section 2(1) of these Regulations, the Executive Member is entitled to an annual remuneration of $29,250. Additionally, section 2(2) provides that the Executive Member is eligible for an annual allowance of $1,750, further supplementing their remuneration. These provisions ensure that the Executive Member receives appropriate compensation for their role within the Authority. These Regulations impose specific financial obligations on the Petroleum and Minerals Authority. Under section 2(1), the Authority is required to pay the Executive Member an annual remuneration of $29,250. Furthermore, under section 2(2), the Authority must provide an annual allowance of $1,750 to the Executive Member. These obligations ensure that the Executive Member is adequately compensated for their duties and responsibilities within the Authority. Failure to comply with the requirements set out in these Regulations may result in legal consequences. While the Regulations themselves do not explicitly state offences or penalties for non-compliance, breaches of the Petroleum and Minerals Authority Act 1973 or related regulations could potentially lead to civil or criminal penalties. For example, under the principal Act, non-compliance with its provisions could result in fines or other penalties as prescribed by law. Additionally, if the non-payment of remuneration or allowances results in financial hardship or legal disputes, it could lead to further legal consequences for the Authority.