Offshore Minerals (Registration Fees) Act 1981

Act No. 86 of 1981 as amended

This compilation was prepared on 30 July 2001
taking into account amendments up to Act No. 55 of 2001

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]........................................................................ 1

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

3............ Interpretation....................................................................................... 1

4............ Imposition of registration fees............................................................. 1

5............ Regulations......................................................................................... 3

Notes                                                                                                                                           5

An Act to provide for the payment of fees for the lodgment for registration of certain documents under the Offshore Minerals Act 1994

1  Short title [see Note 1]

                   This Act may be cited as the Offshore Minerals (Registration Fees) Act 1981.

2  Commencement [see Note 1]

                   This Act shall come into operation on the day on which the Minerals (Submerged Lands) Act 1981 comes into operation.

3  Interpretation

                   Expressions used in this Act that are used in the Offshore Minerals Act 1994 have, unless the contrary intention appears, the same meanings as they have in that Act.

4  Imposition of registration fees

             (1)  There is payable to the Designated Authority, in respect of a document that is lodged for registration under section 338 (a section 338 document) or 339 (a section 339 document) of the Offshore Minerals Act 1994 a fee equal to the prescribed percentage of:

                     (a)  the value of the consideration for the document; or

                     (b)  the value of the licence, share or interest transferred or otherwise dealt with by the document;

whichever is the greater.

          (1A)  The percentage prescribed for the purposes of subsection (1) is not to exceed 10%.

             (2)  Where, but for this subsection, the amount of the fee imposed by subsection (1) in respect of a section 338 or section 339 document would be less than the amount prescribed for the purposes of this subsection, the amount of the fee imposed in respect of the document is that prescribed amount.

          (2A)  The amount prescribed for the purposes of subsection (2) is not to exceed $2,000.

             (3)  For the purpose of calculating the fee payable under subsection (1) in respect of a section 338 document or a section 339 document that is lodged for registration, the value, as determined by the Joint Authority, of any approved exploration works to be carried out in pursuance of the document shall be deducted:

                     (a)  where the fee is to be calculated in accordance with paragraph (1)(a)—from the value referred to in that paragraph; and

                     (b)  where the fee is to be calculated in accordance with paragraph (1)(b)—from the value referred to in that paragraph.

             (4)  Where:

                     (a)  a section 338 document or a section 339 document was executed for the purpose of giving effect to a prior agreement; and

                     (b)  a party to the transfer or other dealing to which the section 338 document or section 339 document relates holds a certificate in respect of the document under subsection (6);

no fee is payable under subsection (1) or (2) for the lodgment for registration of that document but there is payable for the lodgment for registration of that document a fee of the amount prescribed for the purposes of this subsection.

          (4A)  The amount prescribed for the purposes of subsection (4) is not to exceed $20,000.

             (5)  Where:

                     (a)  2 or more parties to a transfer to which a section 338 document relates, or a dealing to which a section 339 document relates are related corporations within the meaning of the Corporations Act 2001; and

                     (b)  any of those parties is the holder of a certificate in respect of the document under subsection (7);

no fee is payable under subsection (1) or (2) for the lodgment for registration of that document but there is payable for the lodgment for registration of that document a fee of the amount prescribed for the purposes of this subsection.

          (5A)  The amount prescribed for the purposes of subsection (5) is not to exceed $20,000.

             (6)  Where the Joint Authority is satisfied that a prior agreement referred to in subsection (4) was not entered into, or is not proposed to be entered into, substantially for the purpose of avoiding or reducing the registration fees that would, but for the issue of a certificate under this paragraph, be payable under subsection (1) or (2) for the lodgment for registration of a section 338 document or a section 339 document that was entered into or is to be entered into to give effect to the prior agreement, the Joint Authority may, on an application in writing made at any time by a person who is or proposes to be a party to the prior agreement, grant a certificate that the Joint Authority is so satisfied.

             (7)  Where the Joint Authority is satisfied that a document referred to in subsection (5):

                     (a)  was or is proposed to be entered into solely for the purpose of the reorganization or the better administration of the related corporations or any of them; and

                     (b)  was not entered into, or is not proposed to be entered into, substantially for the purpose of avoiding or reducing the registration fees that would, but for the issue of a certificate under this paragraph, be payable under subsection (1) or (2);

the Joint Authority may, on an application in writing made at any time by any of those related corporations, grant a certificate that the Joint Authority is so satisfied.

             (8)  Moneys received by the Designated Authority as fees payable under this Act shall be deemed to be received by the Designated Authority on behalf of the Commonwealth.

5  Regulations

                   The Governor‑General may make regulations prescribing matters:

                     (a)  required or permitted by this Act to be prescribed; or

                     (b)  necessary or convenient to be prescribed for carrying out or giving effect to this Act.

Notes to the Offshore Minerals (Registration Fees) Act 1981

Note 1

The Offshore Minerals (Registration Fees) Act 1981 as shown in this compilation comprises Act No. 86, 1981 amended as indicated in the Tables below.

For application, saving or transitional provisions made by the Corporations (Repeals, Consequentials and Transitionals) Act 2001, see Act No. 55, 2001.

Table of Acts

(a)     The Offshore Minerals (Registration Fees) Act 1981 was amended by Part XXVII (sections 162 and 163) only of the Statute Law (Miscellaneous Amendments) Act (No. 1) 1982, subsection 2(6) of which provides as follows:

                 (6)   Part XXVII shall come into operation on the day on which the Companies Act 1981 comes into operation or the day on which the Minerals (Submerged Lands) (Registration Fees) Act 1981 comes into operation, whichever is later.

         The Minerals (Submerged Lands) (Registration Fees) Act 1981 came into operation on 1 February 1990.

(b)     The Offshore Minerals (Registration Fees) Act 1981 was amended by the Offshore Minerals (Consequential Provisions) Act 1994, section 2 of which provides as follows:

                   2.   This Act commences immediately after the Offshore Minerals Act 1994 commences.

         The Offshore Minerals Act 1994 came into operation on 25 February 1994.

(c)     The Offshore Minerals (Registration Fees) Act 1981 was amended by Schedule 3 (item 400) only of the Corporations (Repeals, Consequentials and Transitionals) Act 2001, subsection 2(3) of which provides as follows:

                 (3)   Subject to subsections (4) to (10), Schedule 3 commences, or is taken to have commenced, at the same time as the Corporations Act 2001.

Table of Amendments