283Rate of royalty

#### 283 Rate of royalty 283 Rate of royalty > > (1) Royalty on a publicly owned mineral is payable under this Division— > > > > > (a) at the base rate prescribed by the regulations in respect of that mineral, and > > > > > (b) if the regulations so provide—at the additional rate prescribed by the regulations in respect of that mineral. > > > (2) Royalty under this Division is payable on a publicly owned mineral at the rate or rates applicable as at the time the material from which it is recovered is extracted from the land. > > > (3) A rate of royalty prescribed for the purposes of this Division may be prescribed— > > > > > (a) as a percentage of the value of minerals recovered from the land, or > > > > > (b) as an amount payable on the basis of any specified measurement of minerals recovered from the land, or > > > > > (c) by reference to such other matters as the Minister determines. > > > (4) The quantity of minerals recovered is to be calculated (whether by volume or by weight) in the manner prescribed by the regulations. > > > (5) The value of minerals recovered is to be calculated (whether by volume or by weight) in the manner determined by the Minister.