58Financial assurance assessments

58  Financial assurance assessments  (1) For the purposes of subsection 685(1) of the Act, a fee is payable to NOPSEMA by a petroleum titleholder if NOPSEMA assesses financial assurance arrangements, proposed by the titleholder in relation to a petroleum activity, for the purposes of section 16 of this instrument.  (2) The fee is the total of the expenses incurred by NOPSEMA in assessing the financial assurance arrangements.  (3) The fee is due and payable in accordance with the terms of the invoice for the fee. Note: It is expected that NOPSEMA and the titleholder will agree on the terms of payment of the fee. The invoice will state the terms, whether or not there is an agreement. Division 3—Application of this instrument if remedial direction is in force