12Royalties

12 Royalties S. 12(1) amended by Nos 89/2005 s. 3, 64/2012 s. 14(1). (1) Subject to section 12A, the holder of a mining licence or prospecting licence must pay royalties in accordance with the rate or method of assessment and at the times— (a) specified in the licence, after consultation by the Minister with the licensee; or (b) prescribed, if not specified in the licence. S. 12(2) inserted by No. 86/1993 s. 6(b), amended by Nos 82/2000 s. 11(a)(b), 64/2012 s. 14(2), 68/2014 s. 17. (2) Without limiting subsection (1), the holder of a mining licence or prospecting licence must, unless the Minister decides otherwise, pay royalties in respect of the disposal under section 14(2)(b) or 14B(2A) (as the case requires) of tailings resulting from work under a licence over Crown land in accordance with the rate or method of assessment and at the times prescribed. S. 12(3) inserted by No. 6/2009 s. 13. (3) The holder of an extractive industry work authority to be carried out on Crown land must pay royalties in accordance with the rate or method of assessment and at the times— (a) specified in the work authority; or (b) prescribed, if not specified in the work authority— unless the Minister decides to waive or vary the royalties under subsection (4). S. 12(4) inserted by No. 6/2009 s. 13. (4) The Minister may waive the requirement for any holder of an extractive industry work authority to pay royalties or vary the rate, method of assessment or times at which the royalty is to be paid by any holder of an extractive industry work authority if the Minister is satisfied that a royalty is being paid to the Crown or in any other circumstances in which the Minister is satisfied that it is appropriate that there should be such a waiver or variation. S. 12A inserted by No. 89/2005 s. 4.