Offshore Petroleum and Greenhouse Gas Storage Act 2010
693Payment of royalty for petroleum
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693 Payment of royalty for petroleum
(1) Royalty under this Act in respect of petroleum recovered during a royalty period is due and payable not later that the last day of the next succeeding royalty period.
(2) In this section—
royalty period, in relation to a petroleum exploration permit, petroleum retention lease or petroleum production licence, means—
(a) the period—
(i) commencing on the day the term of the permit, lease or licence begins (the term commencement day); and
(ii) ending on the last day of the month in which the term commencement day falls; and
(b) every month after that month.
Division 4—Royalties for greenhouse gas injection and storage