sec.68When annual fee or rent must be paid

sec.68 When annual fee or rent must be paid

An annual fee or rent must be paid on or before 31 August each year. However, an annual fee or rent must be paid within 20 business days after— on the grant of a pipeline licence or petroleum facility licence—the licence takes effect; or on the grant of a resource authority for which annual rent is payable—the authority takes effect; or for the first payment of rent for storing petroleum or a prescribed storage gas payable by a person— if a notice has been lodged under the 2004 Act , section 219 for the petroleum or prescribed storage gas—the day the person becomes the owner of the petroleum or prescribed storage gas; or otherwise—the day the Minister decides, under the 2004 Act , section 215 , the person is the owner of the petroleum or prescribed storage gas. Subsection (2) does not apply on the grant of a pipeline licence, petroleum facility licence or resource authority if the Minister has already required payment of an annual fee or rent. See the 2004 Act , sections 40 (1) , 410 (1) and 446 (1) for examples of when the Minister may require payment of rent or payment of an annual fee for a pipeline licence or petroleum facility licence. (sec.68-ssec.1) An annual fee or rent must be paid on or before 31 August each year. (sec.68-ssec.2) However, an annual fee or rent must be paid within 20 business days after— on the grant of a pipeline licence or petroleum facility licence—the licence takes effect; or on the grant of a resource authority for which annual rent is payable—the authority takes effect; or for the first payment of rent for storing petroleum or a prescribed storage gas payable by a person— if a notice has been lodged under the 2004 Act , section 219 for the petroleum or prescribed storage gas—the day the person becomes the owner of the petroleum or prescribed storage gas; or otherwise—the day the Minister decides, under the 2004 Act , section 215 , the person is the owner of the petroleum or prescribed storage gas. (sec.68-ssec.3) Subsection (2) does not apply on the grant of a pipeline licence, petroleum facility licence or resource authority if the Minister has already required payment of an annual fee or rent. See the 2004 Act , sections 40 (1) , 410 (1) and 446 (1) for examples of when the Minister may require payment of rent or payment of an annual fee for a pipeline licence or petroleum facility licence.

• (a) on the grant of a pipeline licence or petroleum facility licence—the licence takes effect; or
• (b) on the grant of a resource authority for which annual rent is payable—the authority takes effect; or
• (c) for the first payment of rent for storing petroleum or a prescribed storage gas payable by a person— (i) if a notice has been lodged under the 2004 Act , section 219 for the petroleum or prescribed storage gas—the day the person becomes the owner of the petroleum or prescribed storage gas; or (ii) otherwise—the day the Minister decides, under the 2004 Act , section 215 , the person is the owner of the petroleum or prescribed storage gas.