sec.47Cost of replacement of PL minor gas infrastructure— Act , s 164

sec.47 Cost of replacement of PL minor gas infrastructure— Act , s 164

For section 164 (2) of the Act , the cost of replacement of PL minor gas infrastructure must be calculated in the following way and consistent with the following principles— the cost is limited to PL minor gas infrastructure located in an IMA or RMA for the overlapping area; the cost is based on the depreciated value of the PL minor gas infrastructure at the date the PL holder is no longer able to use the infrastructure; the cost includes the cost of removal and relocation of the PL minor gas infrastructure; the cost does not include an amount for which compensation is payable for lost production; the cost is fair and reasonable; the cost is supported by documentary evidence.

• (a) the cost is limited to PL minor gas infrastructure located in an IMA or RMA for the overlapping area;
• (b) the cost is based on the depreciated value of the PL minor gas infrastructure at the date the PL holder is no longer able to use the infrastructure;
• (c) the cost includes the cost of removal and relocation of the PL minor gas infrastructure;
• (d) the cost does not include an amount for which compensation is payable for lost production;
• (e) the cost is fair and reasonable;
• (f) the cost is supported by documentary evidence.