sec.47Holder must pay contribution to scheme fund

sec.47 Holder must pay contribution to scheme fund

The holder of the authority must pay a contribution to the scheme fund within 30 business days after— for an initial allocation decision—the initial allocation day for the authority; or for a changed holder allocation—the day the decision takes effect under section 37 ; or for an annual review decision—the annual review day for the authority. The holder of the authority must not carry out, or allow the carrying out of, a resource activity under the authority unless the holder has paid the contribution—see the Environmental Protection Act 1994 , section 297 . The contribution payable must be worked out using the formula— where— A is the estimated rehabilitation cost for the authority at the beginning of the day that is the current review day. B is the prescribed percentage for the authority. C is the amount of the contribution. D is the number of days between the current review day and— for an initial allocation decision—the annual review allocation day occurring more than 9 months after the current review day; or for a changed holder allocation— if a change to the annual review allocation day takes effect on the current review day—the changed annual review allocation day occurring more than 9 months after the current review day; or otherwise—the annual review allocation day occurring more than 9 months after the current review day; or for an annual review decision— if a change to the annual review allocation day takes effect on the current review day—the changed annual review allocation day occurring more than 9 months after the current review day; or otherwise—the next annual review allocation day occurring more than 9 months after the current review day. For the Mineral and Energy Resources (Common Provisions) Act 2014 , section 21 , the holder mentioned in subsection (1) is the entity mentioned in section 21 (2) of that Act. s 47 amd 2020 No. 14 s 218 sch 1 ; 2024 No. 33 s 113 (sec.47-ssec.1) The holder of the authority must pay a contribution to the scheme fund within 30 business days after— for an initial allocation decision—the initial allocation day for the authority; or for a changed holder allocation—the day the decision takes effect under section 37 ; or for an annual review decision—the annual review day for the authority. The holder of the authority must not carry out, or allow the carrying out of, a resource activity under the authority unless the holder has paid the contribution—see the Environmental Protection Act 1994 , section 297 . (sec.47-ssec.2) The contribution payable must be worked out using the formula— where— A is the estimated rehabilitation cost for the authority at the beginning of the day that is the current review day. B is the prescribed percentage for the authority. C is the amount of the contribution. D is the number of days between the current review day and— for an initial allocation decision—the annual review allocation day occurring more than 9 months after the current review day; or for a changed holder allocation— if a change to the annual review allocation day takes effect on the current review day—the changed annual review allocation day occurring more than 9 months after the current review day; or otherwise—the annual review allocation day occurring more than 9 months after the current review day; or for an annual review decision— if a change to the annual review allocation day takes effect on the current review day—the changed annual review allocation day occurring more than 9 months after the current review day; or otherwise—the next annual review allocation day occurring more than 9 months after the current review day. (sec.47-ssec.3) For the Mineral and Energy Resources (Common Provisions) Act 2014 , section 21 , the holder mentioned in subsection (1) is the entity mentioned in section 21 (2) of that Act.