17Proper books to be kept

17 Proper books to be kept (1) A royalty payer shall keep at the production unit, or at some other place in Australia agreed between the royalty payer and the

Part II Imposition and assessment, &c., of royalty Mineral Royalty Act 1982 34 Secretary or, in the absence of agreement, as determined by the Secretary, proper books of account in accordance with generally accepted accounting principles and the specified accounting basis showing in respect of that production unit: (a) the amount and particulars of each expenditure in each category of deduction; and (b) details of all sales, transfers and other disposals of assets, being assets the costs of which have been included in calculating eligible capital assets expenditure; and (c) details of the mass and grade of a mineral commodity recovered from the production unit and of sales, shipments, transfers and other disposals of a mineral commodity from the production unit, including the time, destination, value and basis of valuation and mass and grade of each sale, shipment, transfer or other disposal; and (d) details of all assets, being assets the costs of which have been included in calculating eligible capital assets expenditure, eligible exploration expenditure and eligible research and development expenditure. Maximum penalty: 200 penalty units. (2) A mineral commodity shall not be sold or removed from a production unit, or treated in a processing plant not included in the production unit, until its mass and grade have been ascertained and entered in a book of account referred to in subsection (1). Maximum penalty: 200 penalty units.