63Credit of amounts to Account

#### 63 Credit of amounts to Account (1) Subject to subsection (2), there must be credited to the Account, from time to time, amounts equal to the amounts of any royalties received by the Commonwealth or the Northern Territory in respect of a mining interest in Aboriginal land. (2) If, because of an increase in the rate of royalty since 26 January 1977, an amount of royalties received by the Commonwealth in respect of a mining interest in the area of Aboriginal land described in Schedule 5 is higher than the amount that, but for that increase, the Commonwealth would have received in respect of that mining interest, such part only of the increase in the amount of those royalties as is determined by the Minister is to be taken into account in calculating the amount to be credited to the Account under subsection (1) in respect of those royalties. (3) If: (a) after 17 January 1990, a mining interest in respect of Aboriginal land in the Northern Territory has been granted under: (i) subsection 51(1A) of the Lands Acquisition Act 1955 in so far as it applies by virtue of subsection 124(8) of the Lands Acquisition Act 1989; or (ii) regulations made for the purposes of subsection 124(1) of the Lands Acquisition Act 1989; and (b) because of an increase in the rate of royalty since the grant of the mining interest, an amount of royalties received by the Commonwealth in respect of the mining interest is higher than the amount that, but for that increase, the Commonwealth would have received in respect of that mining interest; such part only of the increase in the amount of those royalties as is determined by the Minister is to be taken into account in calculating the amount to be credited to the Account under subsection (1) in respect of those royalties. (4) If mining operations for minerals are carried on under the Atomic Energy Act 1953 or any other Act on Aboriginal land by, or on behalf of, the Commonwealth, the Northern Territory or an Authority, there must be credited to the Account, from time to time, payments in respect of those mining operations of such amounts as are determined in accordance with subsection (5). (5) The amounts that must be credited to the Account under subsection (4) are: (a) amounts equal to such amounts as would be payable to the Crown as royalties if the mining operations were carried on in accordance with the law of the Northern Territory relating to mining for minerals and the royalties were payable at the rate fixed by that law immediately before 26 January 1977; or (b) if the Minister administering the Act under which the mining operations are carried on and the Minister administering this Act jointly determine that amounts higher than the amounts referred to in paragraph (a) are to be credited to the Account under subsection (4) in respect of particular mining operations—amounts equal to the amounts so determined. (6) There must be credited to the Account amounts equal to any money paid by any person to the Commonwealth for the purposes of the Account. (7) There must be credited to the Account amounts equal to any amounts from time to time received by the Commonwealth as interest on, or as repayment of, any loan made under subsection 64(4). (8) For the purposes of this section: (a) a royalty is taken to include an amount paid on account of a royalty; and (b) an amount may be credited to the Account in purported compliance with a requirement to credit an amount to the Account under subsection (4).