Offshore Petroleum and Greenhouse Gas Storage (Regulatory Levies) Regulations 2022
59AERemittal or refund of levy—title partly surrendered during year and application for consent to surrender made before that year
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59AE Remittal or refund of levy—title partly 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 an amount of levy, worked out under subsection (3), if: (a) the levy is imposed on a title for a year; and (b) the title is partly surrendered under section 271 or 443 of the OPGGS Act at a particular time during the year; and (c) the application for consent to surrender, or to partly surrender, the title was made before the start of the year; and (d) 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 an amount of levy, worked out under subsection (3), if: (a) the levy is imposed on a title for a year; and (b) the title is partly surrendered under section 271 or 443 of the OPGGS Act at a particular time during the year; and (c) the application for consent to surrender, or to partly surrender, the title was made before the start of the year; and (d) 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.
Amount of levy to be remitted or refunded (3) The amount to be remitted under subsection (1), or refunded under subsection (2), is the sum of: (a) for each block in respect of which the title is surrendered—$22,000; or (b) for each kilometre (or part of a kilometre) of pipeline in respect of which the title is surrendered—$110.