Petroleum and Gas (Royalty) Regulation 2021
sec.14Definitions for division
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sec.14 Definitions for division
In this division— relevant period , for a royalty return period, means— if the royalty return period is a calendar quarter—the 3-month period starting on the day that is 4 months immediately before the start of the royalty return period; or if the royalty return period is a financial year—the 12-month period starting on the day that is 4 months immediately before the start of the royalty return period. volume , of petroleum, means— for domestic gas, supply gas, project gas, gas or LNG—the volume converted to gigajoules; or for liquid petroleum or oil—the volume measured in barrels.
- (a) if the royalty return period is a calendar quarter—the 3-month period starting on the day that is 4 months immediately before the start of the royalty return period; or
- (b) if the royalty return period is a financial year—the 12-month period starting on the day that is 4 months immediately before the start of the royalty return period.
- (a) for domestic gas, supply gas, project gas, gas or LNG—the volume converted to gigajoules; or
- (b) for liquid petroleum or oil—the volume measured in barrels.