18Prescribed rate of rent in relation to licences and leases

18 Prescribed rate of rent in relation to licences and leases

(1)  In this regulation –

GST has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth.

(2)  For the purposes of section 20(3) of the Act, the fees specified in the table in Part 1 of Schedule 3 are the prescribed rates of rent which a licensee is to pay to the Crown in respect of land comprised in an exploration licence.

(3)  For the purposes of section 42B(3) of the Act, the fees specified in the table in Part 2 of Schedule 3 are the prescribed rates of rent which a licensee is to pay to the Crown in respect of land comprised in a special exploration licence.

(4)  For the purposes of section 56(3) of the Act, the fees specified in the table in Part 3 of Schedule 3 are the prescribed rates of rent which a licensee is to pay to the Crown in respect of land comprised in a retention licence.

(5)  For the purposes of section 67L(3) of the Act, the fee specified in the table in Part 4 of Schedule 3 is the prescribed rate of rent which a licensee is to pay to the Crown in respect of land comprised in a production licence.

(6)  For the purposes section 101(1) of the Act, the fee specified in the table in Part 5 of Schedule 3 is the prescribed rate of annual rent which a lessee is to pay to the Crown in respect of a mining lease.

(7)  A fee specified in Schedule 3 is GST inclusive.