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Offshore Minerals (Exploration Licence Fees) Act 1981
4Exploration licence fees
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4 Exploration licence fees
(1) An exploration licence holder must pay a fee to the Designated Authority in respect of each year of the term of the licence. (2) Subject to subsection (3), the amount of the fee is to be calculated in accordance with the regulations. (3) The amount of the fee for a licence for a year is not to exceed whichever is the greater of: (a) $2,000; or (b) the amount obtained by multiplying $100 by the number of blocks covered by the licence at the beginning of the year.