sec.36Gross value royalty decision on revenue commissioner’s own initiative

sec.36 Gross value royalty decision on revenue commissioner’s own initiative

The revenue commissioner may, on the revenue commissioner’s own initiative, make a gross value royalty decision for a mineral if, for a period— the revenue commissioner reasonably believes the mineral is not, or may not be, a market value mineral; and the holder for the mineral has not applied under section 35 for a gross value royalty decision for the mineral. Subsection (1) (a) applies whether or not either or both of the following have happened— a transaction relating to the mineral; the lodgement of a royalty return for the period. If the revenue commissioner proposes to make a gross value royalty decision for a mineral on the revenue commissioner’s own initiative, the revenue commissioner must— give a notice to the holder for the mineral stating that the revenue commissioner proposes to make the decision; and invite the holder to make submissions about the proposed decision within— 30 days after the day the revenue commissioner gives the holder the notice; or if the revenue commissioner approves a longer period—the longer period. (sec.36-ssec.1) The revenue commissioner may, on the revenue commissioner’s own initiative, make a gross value royalty decision for a mineral if, for a period— the revenue commissioner reasonably believes the mineral is not, or may not be, a market value mineral; and the holder for the mineral has not applied under section 35 for a gross value royalty decision for the mineral. (sec.36-ssec.2) Subsection (1) (a) applies whether or not either or both of the following have happened— a transaction relating to the mineral; the lodgement of a royalty return for the period. (sec.36-ssec.3) If the revenue commissioner proposes to make a gross value royalty decision for a mineral on the revenue commissioner’s own initiative, the revenue commissioner must— give a notice to the holder for the mineral stating that the revenue commissioner proposes to make the decision; and invite the holder to make submissions about the proposed decision within— 30 days after the day the revenue commissioner gives the holder the notice; or if the revenue commissioner approves a longer period—the longer period.

• (a) the revenue commissioner reasonably believes the mineral is not, or may not be, a market value mineral; and
• (b) the holder for the mineral has not applied under section 35 for a gross value royalty decision for the mineral.
• (a) a transaction relating to the mineral;
• (b) the lodgement of a royalty return for the period.
• (a) give a notice to the holder for the mineral stating that the revenue commissioner proposes to make the decision; and
• (b) invite the holder to make submissions about the proposed decision within— (i) 30 days after the day the revenue commissioner gives the holder the notice; or (ii) if the revenue commissioner approves a longer period—the longer period.