sec.42Quarterly payment notice

sec.42 Quarterly payment notice

If the revenue commissioner considers it appropriate, the revenue commissioner may, by notice (a quarterly payment notice ) given to a petroleum producer, state that the day petroleum royalty is payable by the petroleum producer for a royalty return period that is a calendar quarter is the day the royalty return must be lodged for the period instead of an earlier time under section 41 (1) (a) or (b) . A quarterly payment notice given to a petroleum producer must state the period for which the notice applies. If the revenue commissioner considers it appropriate to do so, the revenue commissioner may, by notice, withdraw a quarterly payment notice. A withdrawal under subsection (3) takes effect from the start of the next royalty return period after the end of the royalty return period in which the notice of the withdrawal is given. (sec.42-ssec.1) If the revenue commissioner considers it appropriate, the revenue commissioner may, by notice (a quarterly payment notice ) given to a petroleum producer, state that the day petroleum royalty is payable by the petroleum producer for a royalty return period that is a calendar quarter is the day the royalty return must be lodged for the period instead of an earlier time under section 41 (1) (a) or (b) . (sec.42-ssec.2) A quarterly payment notice given to a petroleum producer must state the period for which the notice applies. (sec.42-ssec.3) If the revenue commissioner considers it appropriate to do so, the revenue commissioner may, by notice, withdraw a quarterly payment notice. (sec.42-ssec.4) A withdrawal under subsection (3) takes effect from the start of the next royalty return period after the end of the royalty return period in which the notice of the withdrawal is given.