Petroleum (Submerged Lands) (Exploration Permit Fees) Amendment Act 1980

Overview

The Petroleum (Submerged Lands) (Exploration Permit Fees) Amendment Act 1980 was enacted to amend the Petroleum (Submerged Lands) (Exploration Permit Fees) Act 1967, addressing the need to adjust the fees associated with exploration permits for petroleum in submerged lands. This amendment was necessitated to reflect changes in economic conditions and the escalating costs associated with petroleum exploration activities. The Act was passed by the Queen, in Parliament, in accordance with section 51 of the Constitution, which pertains to the legislative powers of the Commonwealth. The primary objective of this amendment, as stated, is to modify the fees payable for exploration permits to align with current financial realities. This adjustment ensures that the fees are reflective of the true costs incurred in the exploration process, while also ensuring that the Commonwealth receives appropriate revenue from these activities. The Act specifies that the amendments to the permit fees will not apply to any years of the permit term that began prior to the Act's commencement, thereby providing a transitional period for existing permit holders.

Scope and Application

The Petroleum (Submerged Lands) (Exploration Permit Fees) Amendment Act 1980 amends the Petroleum (Submerged Lands) (Exploration Permit Fees) Act 1967, primarily adjusting the fees associated with exploration permits for petroleum in submerged lands. This Act applies to any entities or individuals who are granted permits to prospect for petroleum in submerged lands, and it falls under the jurisdiction of the Commonwealth of Australia. The amended Act updates the fees from one hundred dollars to three hundred dollars for the initial permit fee and from five dollars to fifteen dollars for the annual renewal fee. It is important to note that these amendments do not apply to any permits that were initiated prior to the date of commencement of this Act. Furthermore, any fees or penalties collected under this Act are to be received by the Designated Authority on behalf of the Commonwealth. The Act's scope and application are confined to the geographic and jurisdictional boundaries of the Commonwealth, with no explicit exclusions or exemptions detailed within the provided text, though it is acknowledged that further stipulations could be established through subordinate instruments.

Key Provisions

The Petroleum (Submerged Lands) (Exploration Permit Fees) Amendment Act 1980 (referred to as the Act) amends the Petroleum (Submerged Lands) (Exploration Permit Fees) Act 1967 (the Principal Act). The Act modifies the fees for permits issued under the Principal Act, specifying the new rates that must be paid for exploration permits in submerged lands. Section 4 of the Principal Act is updated to change the fee for an exploration permit from $100 to $300, and the annual renewal fee from $5 to $15. These changes do not apply to any permit that was issued before the Act came into effect. The Act imposes specific obligations on the parties that hold exploration permits under the Principal Act. Firstly, it mandates that any fees and other amounts received by the Designated Authority, as per the amended Section 6 of the Principal Act, are to be accounted for on behalf of the Commonwealth. This means that the Designated Authority must ensure that all fees collected are appropriately recorded and credited to the Commonwealth's accounts. Breaching the provisions of the Act can result in both civil and criminal consequences. Although the Act does not explicitly outline specific penalties for non-compliance, it is implied that failure to adhere to the amended fees and obligations could result in legal actions. Given that the Act is linked to financial transactions with the Commonwealth, any non-compliance could potentially lead to penalties under broader Commonwealth legislation concerning revenue collection and management.