sec.40Rental payable— Act , ss 95 , 138 , 193 , 290 and 417

sec.40 Rental payable— Act , ss 95 , 138 , 193 , 290 and 417

The rental payable under the Act , for a year, for a mining tenement is stated in schedule 4 . However, for a mineral development licence that relates to more than 1,000ha, the rental payable on each hectare must be worked out at the following rate— for the first 1,000ha—the rate mentioned in schedule 4 ; for the next 1,000ha—40% of the rate mentioned in schedule 4 ; for the next 3,000ha—25% of the rate mentioned in schedule 4 ; for the next 10,000ha—5% of the rate mentioned in schedule 4 ; for each additional hectare—1% of the rate mentioned in schedule 4 . In this section— year means— for an exploration permit—a period of 1 year starting, in each year, on the day the exploration permit was granted; or for another mining tenement—a rental year. (sec.40-ssec.1) The rental payable under the Act , for a year, for a mining tenement is stated in schedule 4 . (sec.40-ssec.2) However, for a mineral development licence that relates to more than 1,000ha, the rental payable on each hectare must be worked out at the following rate— for the first 1,000ha—the rate mentioned in schedule 4 ; for the next 1,000ha—40% of the rate mentioned in schedule 4 ; for the next 3,000ha—25% of the rate mentioned in schedule 4 ; for the next 10,000ha—5% of the rate mentioned in schedule 4 ; for each additional hectare—1% of the rate mentioned in schedule 4 . (sec.40-ssec.3) In this section— year means— for an exploration permit—a period of 1 year starting, in each year, on the day the exploration permit was granted; or for another mining tenement—a rental year.

• (a) for the first 1,000ha—the rate mentioned in schedule 4 ;
• (b) for the next 1,000ha—40% of the rate mentioned in schedule 4 ;
• (c) for the next 3,000ha—25% of the rate mentioned in schedule 4 ;
• (d) for the next 10,000ha—5% of the rate mentioned in schedule 4 ;
• (e) for each additional hectare—1% of the rate mentioned in schedule 4 .
• (a) for an exploration permit—a period of 1 year starting, in each year, on the day the exploration permit was granted; or
• (b) for another mining tenement—a rental year.