558Fees for approval of dealings relating to petroleum titles

558 Fees for approval of dealings relating to petroleum titles

(1) A fee is payable to the Minister in respect of an entry in the Register of an approval of a dealing under section 529.

(2) The amount of the fee that is payable must be worked out using the table—

• 1 (a) a dealing relates to only one title; and(b) an entry is made in the Register of the approval of the dealing in so far as it relates to that title; and(c) none of items 2, 5 and 6 apply 1.5% of the value of the consideration for the dealing.

• 2 (a) a dealing relates to only one title; and(b) an entry is made in the Register of the approval of the dealing in so far as it relates to that title; and(c) the entry of the approval relates to an interest in a petroleum production licence, infrastructure licence or pipeline licence; and(d) the value of the interest is greater than the value of the consideration for the dealing; and(e) the dealing has an effect of the kind referred to in item 1, 2, 4 or 5 of the table in section 521; and(f) the Minister is satisfied that the dealing was not made under another dealing that relates to that title, where a fee has been paid under this section in relation to an entry of the approval of the other dealing 1.5% of the value of the interest.

• 3 (a) a dealing relates to 2 or more titles; and(b) an entry is made in the Register of the approval of the dealing in so far as it relates to any one of those titles; and(c) none of items 4, 5 and 6 apply 1.5% of the amount worked out by dividing the value of the consideration for the dealing by the number of titles in relation to which the dealing is approved by the Minister.

• 4 (a) a dealing relates to 2 or more titles; and(b) an entry is made in the Register of the approval of the dealing in so far as it relates to any one of those titles; and(c) the entry of the approval relates to an interest in a petroleum production licence, infrastructure licence or pipeline licence; and(d) the value of the interest is greater than the amount worked out by dividing the value of the consideration for the dealing by the number of titles in relation to which the dealing is approved by the Minister; and(e) the dealing has an effect of the kind referred to in item 1, 2, 4 or 5 of the table in section 521; and 1.5% of the value of the interest.

• (f) the Minister is satisfied that the dealing was not made under another dealing that relates to any of those titles, where a fee has been paid under this section in relation to an entry of the approval of the other dealing

• 5 (a) a dealing relates to one or more titles; and(b) an entry is made in the Register of the approval of the dealing in so far as it relates to any one of those titles; and(c) either—(i) apart from this item, the amount of the fee imposed by this section on the entry would have been less than the amount prescribed by the regulations; or(ii) Part 4.6 applies to the dealing only because the dealing creates, varies or terminates a charge over some or all of the assets of a body corporate the amount prescribed by the regulations.