291ABInterest on deferred royalty

#### 291AB Interest on deferred royalty 291AB Interest on deferred royalty > > (1) Interest must be calculated on deferred royalty in accordance with this section. > > > (2) The interest calculated in accordance with this section on deferred royalty is payable to the Crown when the deferred royalty is payable. > > > (3) Interest on the amount of deferred royalty must be calculated on a quarterly basis for each quarterly period ending on 31 March, 30 June 30 September and 31 December from the day following the day on which the deferred royalty would be payable if not deferred under the deferral approval until the day the deferred royalty is paid at the long term bond rate. > > > (4) The interest may be calculated on a pro-rata basis if the deferred royalty is paid before the day on which the royalty becomes payable under a deferral approval. > > > (5) The long term bond rate is rounded to the second decimal place, rounding 0.005 upwards, at the time interest is calculated. > > > (6) For subsection (3), the long term bond rate for the quarterly period ending on the day specified in Column 1 of the table to this subsection is the average of the monthly Australian Government 10-year bond yields for the 3 months of the quarterly period specified opposite in Column 2. > > > > | Table | > > | Column 1 | Column 2 | > > | Quarterly period end date | 3 months | > > | 31 March | 1 January to 31 March | > > | 30 June | 1 April to 30 June | > > | 30 September | 1 July to 30 September | > > | 31 December | 1 October to 31 December | > > > (7) If a yield for the 3 months is not published by the Reserve Bank, the long term bond rate for the quarterly period is taken to be the long term bond rate for the preceding quarter. > > > (8) For section 291(1A)— > > > > > (a) liability to pay royalty includes the liability to pay the interest calculated in accordance with this section on the royalty, and > > > > > (b) the person is guilty of the offence under the subsection if the person fails to pay the interest as required by this section. > > > (9) The regulations may further provide for matters in connection with interest on deferred royalty. > > > (10) In this section— > > > > Australian Government 10-year bond yields means the Australian Government bond capital market yields for the 10-year bonds published monthly by the Reserve Bank. > > > > deferred royalty means royalty payable for which payment is deferred under a deferral approval. > > **s 291AB:** Ins 2025 No 37, Sch 3\[12\].