86CAmount of term administrative levy—the Act, s 292M

86C Amount of term administrative levy—the Act, s 292M

86C Amount of term administrative levy—the Act, s 292M

(1) For the Act, section 292M, the amount of a term administrative levy is the amount calculated in accordance with this clause.

(2) The amount of the term administrative levy for an authorisation is the relevant annual administrative levy multiplied by the term of the authorisation.

(3) The relevant annual administrative levy is the amount of the annual administrative levy that would be payable under clause 86 if the authorisation was not a small-scale title.

(4) The term of the authorisation is the number of years for which the authorisation is—

(a) granted, or

(b) for liability for an administrative levy arising on the renewal of a mineral claim—renewed.

(5) A period of less than a year for which an authorisation is granted or renewed must be counted as a year.

(6) The period for which a mineral claim is renewed must include any period during which, before its renewal, the mineral claim continues to have effect because of the Act, section 197(3).

cl 86C: Ins 2022 (802), Sch 1[46].