Greenhouse Gas Geological Sequestration Act 2008
224Liability for, and rate of, royalty
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224 Liability for, and rate of, royalty
(1) The holder of an injection and monitoring licence must pay to the Minister a royalty in respect of the volume of a greenhouse gas substance injected into an underground geological storage formation within the licence area.
(2) Royalty is to be paid at the rate, and in accordance with the conditions, specified in the licence under which the greenhouse gas substance injection and monitoring operations took place.
(3) The Minister in consultation with the Treasurer may waive the requirement for the holder of an injection and monitoring licence to pay a royalty under this section.