40Payment of royalty

40 Payment of royalty (1) A royalty payer shall pay on account of royalty: (a) not later than 30 days after the end of each 6-month period in the royalty year for which the royalty is payable, the amount estimated by the royalty payer to be the royalty payable under section 9A for that period; and (b) at the time of making a statement under section 12, the balance of royalty payable as estimated in the statement. (2) If the sum of the 2 six-monthly payments referred to in subsection (1) in respect of the royalty year is less than 80% of the assessment under section 18 of royalty payable, additional royalty shall be paid of an amount equal to the difference between the sum of the 2 six-monthly payments in respect of the royalty year and 80% of the assessment under section 18 of royalty payable in respect of that royalty year, and this Act shall apply to and in relation to that additional royalty (except for the purposes of making a calculation under this section) as if the additional royalty was assessed under section 18 by the Secretary.

Part IV Collection and recovery of royalty Mineral Royalty Act 1982 39 (3) The Minister may, if satisfied that the liability to pay additional royalty under subsection (2) was not brought about by an attempt on the part of the royalty payer to avoid the payment of royalty, remit additional royalty payable under that subsection, or any part of that additional royalty, and on remission the liability to pay the additional royalty or part of the additional royalty, as the case may be, ceases.