292UMinerals and Petroleum Administrative Fund

#### 292U Minerals and Petroleum Administrative Fund 292U Minerals and Petroleum Administrative Fund > > (1) There is to be established in the Special Deposits Account a fund called the Minerals and Petroleum Administrative Fund (the Administrative Fund). > > > (2) The Administrative Fund is to be administered by the Secretary. > > > (3) There is payable into the Administrative Fund— > > > > > (a) administrative levies payable under Part 14A of this Act or under Part 7A of the [Petroleum (Onshore) Act 1991](/view/html/inforce/current/act-1991-084), and > > > > > (b) all money directed or authorised to be paid into the Administrative Fund by or under this or any other Act, and > > > > > (c) the proceeds from the investment of money in the Administrative Fund. > > > (4) There is payable from the Administrative Fund— > > > > > (a) such amounts as the Secretary authorises for the purpose of funding minerals and petroleum administrative costs, and > > > > > (b) administrative expenses incurred in relation to the Administrative Fund, and > > > > > (c) administrative expenses incurred in relation to the collection and recovery of amounts payable into the Administrative Fund, and > > > > > (d) any refund required under this Act or the [Petroleum (Onshore) Act 1991](/view/html/inforce/current/act-1991-084) of an amount paid as an administrative levy, and > > > > > (e) such amounts as the Secretary authorises for payment into the Derelict Mine Sites Fund. > > > (5) The Secretary may invest money in the Administrative Fund— > > > > > (a) if the Department is a GSF agency for the purposes of Part 6 of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055)—in any way that the Department is permitted to invest money under that Part, or > > > > > (b) if the Department is not a GSF agency for the purposes of Part 6 of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055)—in any way approved by the Treasurer. > > > (6) The annual report of the Department is to include details of the amounts paid from the Administrative Fund during the financial year to which the report relates and the purposes for which those payments were made. > > > (7) In this section— > > > > minerals and petroleum administrative costs means the costs associated with the following— > > > > > (a) the administration and enforcement of this Act and the [Petroleum (Onshore) Act 1991](/view/html/inforce/current/act-1991-084), > > > > > (b) community and industry liaison carried out in connection with this Act or the [Petroleum (Onshore) Act 1991](/view/html/inforce/current/act-1991-084) (including the provision of information about activities carried out under this Act and the [Petroleum (Onshore) Act 1991](/view/html/inforce/current/act-1991-084)), > > > > > (c) rehabilitation of land or water disturbed by activities carried out under this Act, the [Petroleum (Onshore) Act 1991](/view/html/inforce/current/act-1991-084) or former legislation relating to mining, > > > > > (d) any other costs declared by the regulations to be minerals and petroleum administrative costs. > > > > petroleum has the same meaning as it has in the [Petroleum (Onshore) Act 1991](/view/html/inforce/current/act-1991-084). > > **s 292U:** Ins 2012 No 46, Sch 5.2 \[40\]. Am 2018 No 70, Sch 3.41 \[2\].