102AAAgreement to deferral of royalty

### 102AA Agreement to deferral of royalty > [*\[Section 102AA Inserted by No. 24 of 2013, s. 99, Applied:28 Jun 2013\]*](/view/html/inforce/2013-06-28/act-2013-024#GS99@EN) > > > (1)  A person may apply to the Treasurer for a deferral of the obligation to pay an amount of royalty that the person would otherwise be liable, or become liable, to pay under this Act to the Crown. > > > (2)  The Treasurer, after consulting with the Minister in respect of an application made by a person under [subsection (1)](#GS102AA@Gs1@EN) , may – > > > > > > (a) agree to defer the person's obligation to pay an amount of royalty that the person would otherwise be liable, or become liable, to pay under this Act; or > > > > > > > (b) refuse to agree to defer the obligation. > > > (3)  The Treasurer may only agree to defer a person's obligation to pay an amount of royalty under this Act if the relevant criteria for deferral specified in an order under [subsection (4)](#GS102AA@Gs4@EN) have been satisfied. > > > (4)  The Treasurer may, by order, specify the criteria for deferral. > > > (5)  The Treasurer may agree to defer an obligation under [subsection (2)](#GS102AA@Gs2@EN) unconditionally or on conditions. > > > (6)  The conditions on which the Treasurer may agree to defer under [subsection (2)](#GS102AA@Gs2@EN) an obligation of a person to pay an amount of royalty include, but are not limited to including, any one or more of the following conditions: > > > > > > (a) a condition that the person enter into a payment plan, whereby the amount of the royalty is paid, in instalments, at intervals specified in the plan; > > > > > > > (b) a condition that the person pay, by a date, or dates, specified in the condition, interest, calculated in accordance with the rate specified in the condition, on the amount of royalty; > > > > > > > (c) a condition that the person pay the amount of the royalty by a date specified in the agreement. > > > (7)  An agreement under [subsection (2)](#GS102AA@Gs2@EN) is to specify – > > > > > > (a) the lease or licence to which the agreement relates; and > > > > > > > (b) the royalties to which the agreement relates or is to relate; and > > > > > > > (c) the period for which the agreement is in force; and > > > > > > > (d) any conditions on which the agreement is given. > > > (8)  Subject to [section 102AB(3)](#GS102AB@Gs3@EN) , an agreement under [subsection (2)](#GS102AA@Gs2@EN) remains in force for the period specified in the agreement.