10AImposition of annual well levy—Commonwealth titles

10A Imposition of annual well levy—Commonwealth titles

(1) If there are one or more eligible wells in relation to an eligible title for a year, levy is imposed on those wells.

Note: For eligible well, see subsections (5) and (6).

(2) Levy imposed by subsection (1) is to be known as annual well levy. (3) Annual well levy imposed by subsection (1) is payable by the registered holder of the eligible title. Amount of annual well levy (4) The amount of annual well levy imposed by subsection (1) in respect of one or more wells is the amount that is specified in, or worked out in accordance with, the regulations. Eligible well (5) For the purposes of this section, if: (a) immediately before the start of a year, a well is wholly or partly situated in the title area of an eligible title (the current title); and (b) the well is or was drilled under the authority of: (i) the current title; or (ii) an eligible title from which the current title is derived; and (c) the well is not abandoned; the well is an eligible well in relation to the current title for that year. (6) For the purposes of this section, if: (a) during a year, a well began to be drilled in the title area of an eligible title (the current title); and (b) the well was drilled under the authority of: (i) the current title; or (ii) an eligible title from which the current title is derived; and (c) the well was abandoned during that year; the well is an eligible well in relation to the current title for the subsequent year. Abandoned wells (6A) For the purposes of this section, disregard the abandonment of a well unless the process of abandoning the well was the subject of a notification under a prescribed provision of regulations made under the Offshore Petroleum and Greenhouse Gas Storage Act 2006. (7) For the purposes of this section, if a well commences to be abandoned, and prescribed regulations, or a prescribed provision of regulations, made under the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (as those prescribed regulations are in force, or as that prescribed provision is in force, at the time when the abandonment commenced) requires the commencement of the abandonment of the well to be approved by NOPSEMA under those regulations, disregard the abandonment unless: (a) the commencement of the abandonment was approved by NOPSEMA under those regulations; and (b) if the approval was subject to conditions—the abandonment was in accordance with those conditions. Definitions (8) In this section:

derived has the same meaning as in Schedule 3 to the Offshore Petroleum and Greenhouse Gas Storage Act 2006.

eligible title means:

(a) a petroleum title; or
(b) a greenhouse gas title.