Statutory Rules 1994   No. 501

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Offshore Minerals (Retention Licence Fees) Regulations

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Offshore Minerals (Retention Licence Fees) Act 1994.

Dated 4 March 1994.

                                                                                    BILL HAYDEN

                                                                                   Governor-General

By His Excellency’s Command,

D. BEDDALL

Minister for Resources

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Citation

               1.   These Regulations may be cited as the Offshore Minerals (Retention Licence Fees) Regulations.

[NOTE:  These Regulations commence on gazettal: see Acts Interpretation Act 1901, s. 48.]

Interpretation

               2.   In these Regulations, unless the contrary intention appears:

“the Act” means the Offshore Minerals (Retention Licence Fees) Act 1994.

Amount of retention licence fee

               3.   For the purposes of subsection 4 (1) of the Act, the amount of a retention licence fee for a year of the term of the licence is calculated by multiplying $200 by the number of blocks covered by the licence at the beginning of that year.

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NOTE

1.   Notified in the Commonwealth of Australia Gazette on 11 March 1994.