Petroleum (Submerged Lands) (Retention Lease Fees) Act 1985

Petroleum (Submerged Lands) (Retention Lease Fees) Act 1985

Act No. 83 of 1985 as amended

[Note: This Act is repealed by Act No. 93 of 1994]

This compilation was prepared on 29 September 2000
taking into account amendments up to Act No. 93 of 1994

The text of any of those amendments not in force
on that date is appended in the Notes section

Prepared by the Office of Legislative Drafting,
Attorney‑General’s Department, Canberra

Contents

1 Short title [see Note 1]...........................

2 Commencement [see Note 1].......................

3 Incorporation.................................

4 Lease fees...................................

5 Penalty for late payment..........................

6 Fees and penalties debts due to the Commonwealth..........

7 Regulations..................................

Notes 

An Act to provide for the payment of fees in respect of retention leases under the Petroleum (Submerged Lands) Act 1967

1  Short title [see Note 1]

  This Act may be cited as the Petroleum (Submerged Lands) (Retention Lease Fees) Act 1985.

2  Commencement [see Note 1]

  This Act shall come into operation on the day on which section 5 of the Petroleum (Submerged Lands) Amendment Act 1985 comes into operation.

3  Incorporation

  The Petroleum (Submerged Lands) Act 1967 is incorporated and shall be read as one with this Act.

4  Lease fees

 (1) There is payable to the Designated Authority by a lessee, in respect of each year of the term of the lease, a fee calculated in accordance with the regulations.

 (2) A fee referred to in subsection (1) is due and payable at the end of one month after:

 (a) in the case of the first year of the term of the lease—the day on which that term commenced; and

 (b) in the case of a year of the term of the lease other than the first—the anniversary of that day.

5  Penalty for late payment

  If an amount of a fee referred to in section 4 remains unpaid after the time when it became due and payable, an additional amount is due and payable by way of penalty by the lessee to the Designated Authority at the rate of one‑third of 1% per day on the amount unpaid, computed from that time.

6  Fees and penalties debts due to the Commonwealth

 (1) A fee under section 4 or an amount payable under section 5 is a debt due by the lessee to the Commonwealth and is recoverable in a court of competent jurisdiction.

 (2) Fees and other amounts referred to in subsection (1) received by the Designated Authority shall be received by the Designated Authority on behalf of the Commonwealth.

7  Regulations

  The Governor‑General may make regulations for the purposes of section 4.

Notes to the Petroleum (Submerged Lands) (Retention Lease Fees) Act 1985

Note 1

The Petroleum (Submerged Lands) (Retention Lease Fees) Act 1985 as shown in this compilation comprises Act No. 83, 1985 amended as indicated in the Tables below.

Table of Acts

(a) The Petroleum (Submerged Lands) (Retention Lease Fees) Act 1985 was amended by section 3 only of the Primary Industries and Energy Legislation Amendment Act (No. 2) 1989, paragraph 2(2)(f) of which provides as follows:

 (2) Subject to subsection (3), the amendments of:

 (f) the Petroleum (Submerged Lands) (Retention Lease Fees) Act 1985; and

made by this Act commence on a day or days to be fixed by Proclamation.

Table of Amendments