5AVariation of Agreement to increase rates of royalty

##### 5A. Variation of Agreement to increase rates of royalty (1) In this section — Agreement means the agreement a copy of which is set out in the First Schedule — (a) as varied from time to time in accordance with its provisions; and (b) as varied by these agreements — (i) the first Variation Agreement; (ii) the second Variation Agreement; (iii) the third Variation Agreement. (2) Clause 9(2)(j) of the Agreement is varied — (a) in subparagraph (ii) by deleting “3.75%” and inserting — 5.625% (b) in subparagraph (iia)(B) by deleting “3.75%” and inserting — 5.625% (c) in subparagraph (iii) by deleting “3.25%” and inserting — 5% (3) Clause 9(2)(j)(ii), (iia)(B) and (iii) of the Agreement as varied by subsection (2) operate and take effect despite — (a) any other provision of the Agreement; and (b) any other agreement or instrument; and (c) any other Act or law. (4) Nothing in this section affects the amount of royalty payable under clause 9 of the Agreement in respect of any period before the commencement of the *Iron Ore Agreements Legislation Amendment Act 2010* Part 7 1. [Section 5A inserted: No. 34 of 2010 s. 16.]