sec.50Annual rent— Act , s 130

sec.50 Annual rent— Act , s 130

For section 130 (1) of the Act , the annual rent payable for each geothermal tenure is stated in schedule 4 . For section 130 (2) of the Act , the annual rent, or a pro-rata amount of the annual rent if the period to which the rent relates is less than a year, must be paid on or before— on the grant of the geothermal tenure, if the Minister has not already required payment of the rent—the 20th business day after the tenure takes effect; or otherwise—31 August each year. If the annual rent is paid for a year and the geothermal tenure ends during the year, the proportion of the rent that relates to the remainder of the year may be refunded. (sec.50-ssec.1) For section 130 (1) of the Act , the annual rent payable for each geothermal tenure is stated in schedule 4 . (sec.50-ssec.2) For section 130 (2) of the Act , the annual rent, or a pro-rata amount of the annual rent if the period to which the rent relates is less than a year, must be paid on or before— on the grant of the geothermal tenure, if the Minister has not already required payment of the rent—the 20th business day after the tenure takes effect; or otherwise—31 August each year. (sec.50-ssec.3) If the annual rent is paid for a year and the geothermal tenure ends during the year, the proportion of the rent that relates to the remainder of the year may be refunded.

• (a) on the grant of the geothermal tenure, if the Minister has not already required payment of the rent—the 20th business day after the tenure takes effect; or
• (b) otherwise—31 August each year.