VICIn ForceRegulation
Mineral Resources (Sustainable Development) (Mineral Industries) Regulations 2019
5Period for which royalties are payable
Start here
Get a plain-English read of 5
Turn the raw legal text into a practical explanation grounded in Mineral Resources (Sustainable Development) (Mineral Industries) Regulations 2019.
5 Period for which royalties are payable
(1) For the purposes of section 12(1)(b) and (2) of the Act––
(a) royalties are payable in respect of each financial year; or
(b) if the Minister, under subregulation (2), varies the period in respect of which royalties are payable, royalties are payable in respect of the varied period.
(2) The Minister, by notice in writing to the licence holder, may vary the period in respect of which royalties are payable.