10BImposition of annual well levy—State/Territory titles

10B Imposition of annual well levy—State/Territory titles

(1) If: (a) there are one or more eligible wells in relation to a State/Territory title for a year; and (b) the State/Territory title was granted under a law of a particular State or Territory; and (c) at the start of the year, NOPSEMA has functions or powers under regulations of the State or Territory that substantially correspond to prescribed regulations, or a prescribed provision of regulations, made under the Offshore Petroleum and Greenhouse Gas Storage Act 2006; 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 State/Territory 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, the well is wholly or partly situated in the title area of a State/Territory title (the current title); and (b) the well is or was drilled under the authority of: (i) the current title; or (ii) a State/Territory 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 a State/Territory title (the current title); and (b) the well was drilled under the authority of: (i) the current title; or (ii) a State/Territory 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 (7) For the purposes of this section, if regulations of a State or Territory that substantially correspond to Part 5 of the old Resource Management and Administration Regulations require the commencement of the abandonment of a well to be approved by NOPSEMA under those regulations of the State or Territory, disregard the abandonment unless: (a) the commencement of the abandonment was approved by NOPSEMA under those regulations of the State or Territory; and (b) if the approval was subject to conditions—the abandonment was in accordance with those conditions. Definitions (8) In this section:

Commonwealth greenhouse gas title means a greenhouse gas title within the meaning of Schedule 3 to the Offshore Petroleum and Greenhouse Gas Storage Act 2006.

Commonwealth petroleum title means a petroleum title within the meaning of Schedule 3 to the Offshore Petroleum and Greenhouse Gas Storage Act 2006.