SCHEDULE 3 - Fee under 1994 AbSCHEDULE 3 - Fee under 1994 Abalone Deed of Agreement

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SCHEDULE 3 - Fee under 1994 Ab SCHEDULE 3 - Fee under 1994 Abalone Deed of Agreement

1. Interpretation

In this Schedule –

billing period means billing period under clause 5 of the 1994 abalone deed of agreement;

BP or beach price means the beach price calculated under regulation 14 ;

Fee% means the fee percentage calculated under clause 3 ;

financial year means the 12-month period commencing on 1 July in any year;

relevant billing period, for a fee, means the billing period for which the fee is to be calculated.

2. Calculation of fee

The fee is to be determined in accordance with the following formula:

3. Fee percentage

(1) The fee percentage is to be calculated in accordance with the following table:

| Fee percentage per kg | | Indexed beach price | | 0.00% | @ | $7.00 and below | | 4.00% | @ | $7.01 to $29.99 | | 4.00% | @ | $30.00 | | 12.00% | @ | $70.00 and all beach prices thereafter |

(2) For the purposes of the table in subclause (1) , the BP is to be indexed in accordance with the following formula:

where –

i1 is indexation, calculated under subclauses (3) and (4) , of the value of a fee unit.

(3) The formula for the purposes of the definition of i1 in is: