Offshore Petroleum and Greenhouse Gas Storage (Regulatory Levies) Regulations 2022
59ADRemittal or refund of levy—title wholly surrendered during year and application for consent to surrender made before that year
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59AD Remittal or refund of levy—title wholly surrendered during year and application for consent to surrender made before that year
Remittal of levy (1) For the purposes of subsection 695M(3) of the OPGGS Act, the Titles Administrator must remit the whole amount of levy imposed on a title for a year if: (a) the title is wholly surrendered under section 271 or 443 of the OPGGS Act at a particular time during the year; and (b) the application for consent to surrender the title was made before the start of the year; and (c) the amount of levy has not been paid by the time the title is surrendered.
Note: The year in respect of which levy is imposed on a title is the year beginning on the day the title comes into force, or a subsequent year beginning on the anniversary of that day: see section 59AA.
Refund of levy (2) For the purposes of subsection 695M(3) of the OPGGS Act, the Titles Administrator must refund the whole amount of levy imposed on a title for a year if: (a) the title is wholly surrendered under section 271 or 443 of the OPGGS Act at a particular time during the year; and (b) the application for consent to surrender the title was made before the start of the year; and (c) the amount of levy has been paid by the time the title is surrendered.
Note: The year in respect of which levy is imposed on a title is the year beginning on the day the title comes into force, or a subsequent year beginning on the anniversary of that day: see section 59AA.