Offshore Minerals Act 1998
sec.425Tenure fees
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sec.425 Tenure fees
A tenure holder must pay a fee to the Minister for each year during which the tenure is in force. Subject to section 426 , the amount of the fee for each type of tenure must be as prescribed under a regulation for that type of tenure. If the tenure has 2 or more holders, the holders are jointly and severally liable to pay the fee. (sec.425-ssec.1) A tenure holder must pay a fee to the Minister for each year during which the tenure is in force. (sec.425-ssec.2) Subject to section 426 , the amount of the fee for each type of tenure must be as prescribed under a regulation for that type of tenure. (sec.425-ssec.3) If the tenure has 2 or more holders, the holders are jointly and severally liable to pay the fee.