Part 3Royalty

Part 3—Royalty 9—Prescribed amount For the purposes of section 17(4)(a) of the Act, the lesser amount of 52 cents per tonne is prescribed. 10—Prescribed information to accompany tenement holder's estimate of value of minerals For the purposes of section 17(6)(b)(vi) of the Act, the tenement holder's estimate of the reasonable value of the minerals in accordance with that subparagraph must be accompanied by— (a) sufficient information as to why the market value of the minerals could not be determined according to section 17(6)(b)(iii), (iv) and (v) of the Act; and (b) sufficient information that demonstrates that the estimate provided by the tenement holder is reasonable; and (c) any further information requested by the Minister. 11—Prescribed costs For the purposes of section 17(8) and (8a) of the Act, costs of the following kinds, up to an amount that does not exceed 30% of the market value of the minerals on which royalty is payable, are prescribed: (a) costs (excluding GST) genuinely incurred in transporting the minerals to a point of sale (including, for example, packaging, storage, loading, permit, fees, insurance and depreciation); (b) in the case of section 17(8a)—costs (excluding GST) genuinely incurred in shipping the minerals to a genuine purchaser in a sale at arms length; (c) any other costs (excluding GST) determined by the Minister to be a cost of a prescribed kind for the purposes of section 17(8) or (8a) of the Act (or both), (which may vary according to a particular tenement holder, class of tenement holder, or all tenement holders). 12—Persons exempt from furnishing returns (1) For the purposes of section 17CA(9) of the Act (but subject to subregulation (2)), the following persons are exempt from the requirement to furnish a return under section 17CA(1) of the Act: (a) the holder of a registered mineral claim; (b) the holder of an exploration licence; (c) the holder of a miscellaneous purposes licence; (d) the holder of a retention lease. (2) Subregulation (1)(c) or (d) does not apply in relation to a particular tenement if the Minister has determined, by notice to the tenement holder, that the tenement holder should comply with the requirements of section 17CA of the Act. 13—Means of payment of royalty For the purposes of section 17G of the Act, royalty must be paid— (a) by means of electronic funds transfer to an account nominated by the Minister; or (b) by means of a credit card.