sec.926Provisions for petroleum royalty

### sec.926 Provisions for petroleum royalty If immediately before 31 December 2004— royalty was payable under the 1923 Act for petroleum produced before 31 December 2004; and the royalty had not been paid; from 31 December 2004, the royalty may be recovered from the petroleum producer as petroleum royalty payable under this Act. Chapter 6 applies to petroleum produced before 31 December 2004 if liability under the 1923 Act for actual payment of the royalty had not arisen before that day. Despite subsections (1) and (2), petroleum royalty is not payable under this Act for petroleum flared or vented under an approval given under the 1923 Act before 31 December 2004. s 926 ins 2004 No. 26 s 247 amd 2005 No. 3 s 94 ; 2007 No. 46 s 241 sch (sec.926-ssec.1) If immediately before 31 December 2004— royalty was payable under the 1923 Act for petroleum produced before 31 December 2004; and the royalty had not been paid; from 31 December 2004, the royalty may be recovered from the petroleum producer as petroleum royalty payable under this Act. (sec.926-ssec.2) Chapter 6 applies to petroleum produced before 31 December 2004 if liability under the 1923 Act for actual payment of the royalty had not arisen before that day. (sec.926-ssec.3) Despite subsections (1) and (2), petroleum royalty is not payable under this Act for petroleum flared or vented under an approval given under the 1923 Act before 31 December 2004. - (a) royalty was payable under the 1923 Act for petroleum produced before 31 December 2004; and - (b) the royalty had not been paid;