15Provisional payment of royalty

15 Provisional payment of royalty

(1) If, in relation to petroleum recovered during a royalty period, the value of the petroleum has not been agreed or determined under section 12, the State Minister may determine a provisional value. (2) If: (a) a provisional value of any petroleum has been determined under subsection (1); and (b) the value of that petroleum has not yet been agreed or determined under section 12; this Act has effect, in relation to that petroleum, as if: (c) the provisional value of the petroleum were its value; and (d) the determination of the provisional value were an agreement or determination under section 12.