VICIn ForceAct
Geothermal Energy Resources Act 2005
106Minister may vary royalty
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106 Minister may vary royalty
(1) On the application of the holder of an extraction licence or a person who has applied for an extraction licence, the Minister may—
(a) vary the royalty rate specified (or to be specified) in the licence; or
(b) provide that a different method of collecting revenue on any geothermal energy extracted under the licence is to apply.
(2) The Minister must consult the Treasurer before varying the licence, or proposed licence, under subsection (1)(a) or (b).
Division 5—Other obligations