VICIn ForceAct
Greenhouse Gas Geological Sequestration Act 2008
225Minister may vary royalty
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225 Minister may vary royalty
(1) On the application of the holder of an injection and monitoring licence or a person who has applied for an injection and monitoring 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 the volume of a greenhouse gas substance injected into an underground geological storage formation 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).