sec.172Reconciliation payments and replacement gas

### sec.172 Reconciliation payments and replacement gas This section applies if— under this division, a PL holder receives a payment or an amount of natural gas from an ML (coal) holder to meet a compensation liability for lost production; and the PL holder subsequently recovers coal seam gas that was the subject of the compensation liability. The PL holder is liable to give the ML (coal) holder— a payment (a reconciliation payment ) for the coal seam gas recovered; or an amount of natural gas ( replacement gas ) that is equal to the amount of coal seam gas recovered; or both of the following— a payment (also a reconciliation payment ) for part of the coal seam gas recovered; an amount of natural gas (also replacement gas ) that is equal to the amount of coal seam gas recovered that is not the subject of the reconciliation payment under subparagraph (i) . The amount of a reconciliation payment— must be calculated in the way, and consistent with the principles, prescribed by regulation; and must not be more than the amount received to meet the compensation liability. s 172 amd 2016 No. 30 s 52 (sec.172-ssec.1) This section applies if— under this division, a PL holder receives a payment or an amount of natural gas from an ML (coal) holder to meet a compensation liability for lost production; and the PL holder subsequently recovers coal seam gas that was the subject of the compensation liability. (sec.172-ssec.2) The PL holder is liable to give the ML (coal) holder— a payment (a reconciliation payment ) for the coal seam gas recovered; or an amount of natural gas ( replacement gas ) that is equal to the amount of coal seam gas recovered; or both of the following— a payment (also a reconciliation payment ) for part of the coal seam gas recovered; an amount of natural gas (also replacement gas ) that is equal to the amount of coal seam gas recovered that is not the subject of the reconciliation payment under subparagraph (i) . (sec.172-ssec.3) The amount of a reconciliation payment— must be calculated in the way, and consistent with the principles, prescribed by regulation; and must not be more than the amount received to meet the compensation liability. - (a) under this division, a PL holder receives a payment or an amount of natural gas from an ML (coal) holder to meet a compensation liability for lost production; and - (b) the PL holder subsequently recovers coal seam gas that was the subject of the compensation liability. - (a) a payment (a reconciliation payment ) for the coal seam gas recovered; or - (b) an amount of natural gas ( replacement gas ) that is equal to the amount of coal seam gas recovered; or - (c) both of the following— (i) a payment (also a reconciliation payment ) for part of the coal seam gas recovered; (ii) an amount of natural gas (also replacement gas ) that is equal to the amount of coal seam gas recovered that is not the subject of the reconciliation payment under subparagraph (i) . - (i) a payment (also a reconciliation payment ) for part of the coal seam gas recovered; - (ii) an amount of natural gas (also replacement gas ) that is equal to the amount of coal seam gas recovered that is not the subject of the reconciliation payment under subparagraph (i) . - (i) a payment (also a reconciliation payment ) for part of the coal seam gas recovered; - (ii) an amount of natural gas (also replacement gas ) that is equal to the amount of coal seam gas recovered that is not the subject of the reconciliation payment under subparagraph (i) . - (a) must be calculated in the way, and consistent with the principles, prescribed by regulation; and - (b) must not be more than the amount received to meet the compensation liability.