sec.37Considerations in making gross value royalty decision

sec.37 Considerations in making gross value royalty decision

In making a gross value royalty decision for a mineral (the relevant mineral ), the revenue commissioner— must consider— if the holder for the relevant mineral applied for the decision under section 35 —the matters stated in the holder’s application; or if the revenue commissioner gave the holder a notice under section 36 (3) (a) —any submissions about the proposed decision made by the holder within the period mentioned in section 36 (3) (b) for the submissions; and may consider any document or information the revenue commissioner reasonably considers relevant for making the decision; and may also consider any of the following matters— the amount for which a mineral of a similar kind to the relevant mineral has been sold or disposed of in an arms-length transaction to a person other than a relevant entity for the holder; the amount for which a product made using the relevant mineral, or a mineral of a similar kind, has been sold or disposed of; how the value of the relevant mineral can be adjusted to reflect changes to the market value of the mineral; the expenses incurred or likely to be incurred by the holder for the relevant mineral when selling or disposing of the mineral in an arms-length transaction to a person other than a relevant entity for the holder; the nature of the relationship between the holder for the relevant mineral and the entity to which the relevant mineral has been or will be sold or disposed of, or that has used or will use the mineral; the period for which the gross value royalty decision, or aspects of the decision, will apply; the need for any future adjustment of the gross value royalty decision or aspects of the decision; any other relevant matter.

• (a) must consider— (i) if the holder for the relevant mineral applied for the decision under section 35 —the matters stated in the holder’s application; or (ii) if the revenue commissioner gave the holder a notice under section 36 (3) (a) —any submissions about the proposed decision made by the holder within the period mentioned in section 36 (3) (b) for the submissions; and
• (i) if the holder for the relevant mineral applied for the decision under section 35 —the matters stated in the holder’s application; or
• (ii) if the revenue commissioner gave the holder a notice under section 36 (3) (a) —any submissions about the proposed decision made by the holder within the period mentioned in section 36 (3) (b) for the submissions; and
• (b) may consider any document or information the revenue commissioner reasonably considers relevant for making the decision; and
• (c) may also consider any of the following matters— (i) the amount for which a mineral of a similar kind to the relevant mineral has been sold or disposed of in an arms-length transaction to a person other than a relevant entity for the holder; (ii) the amount for which a product made using the relevant mineral, or a mineral of a similar kind, has been sold or disposed of; (iii) how the value of the relevant mineral can be adjusted to reflect changes to the market value of the mineral; (iv) the expenses incurred or likely to be incurred by the holder for the relevant mineral when selling or disposing of the mineral in an arms-length transaction to a person other than a relevant entity for the holder; (v) the nature of the relationship between the holder for the relevant mineral and the entity to which the relevant mineral has been or will be sold or disposed of, or that has used or will use the mineral; (vi) the period for which the gross value royalty decision, or aspects of the decision, will apply; (vii) the need for any future adjustment of the gross value royalty decision or aspects of the decision; (viii) any other relevant matter.