sec.51What notice must contain

sec.51 What notice must contain

The notice given by the revenue commissioner to a petroleum producer under section 593 of the Act (a royalty estimate notice ) must include the following— the period (the estimate period ) for which the petroleum producer is to estimate the royalties payable by the petroleum producer under section 590 of the Act ; the day by which the petroleum producer must provide the royalty estimate; the form in which the petroleum producer must provide the royalty estimate; a description of the information the petroleum producer must provide in the royalty estimate. For subsection (1) (d) , the information the revenue commissioner may ask a petroleum producer to provide in the royalty estimate includes the following— a statement of each type of petroleum the producer expects to produce in the estimate period; for each type of petroleum stated under paragraph (a) , an estimate of the following for the estimate period— the volume of petroleum the producer expects to produce; the volume of petroleum the producer expects to be exempt from petroleum royalty under section 591 or 591A of the Act ; the volume of petroleum the producer expects to be subject to the benchmark price for the petroleum; the average sales price for the petroleum for the petroleum producer for the estimate period. Subsection (2) does not limit the information the revenue commissioner may ask to be included in the royalty estimate. In this section— type , of petroleum, means— domestic gas; or supply gas; or project gas; or liquid petroleum. (sec.51-ssec.1) The notice given by the revenue commissioner to a petroleum producer under section 593 of the Act (a royalty estimate notice ) must include the following— the period (the estimate period ) for which the petroleum producer is to estimate the royalties payable by the petroleum producer under section 590 of the Act ; the day by which the petroleum producer must provide the royalty estimate; the form in which the petroleum producer must provide the royalty estimate; a description of the information the petroleum producer must provide in the royalty estimate. (sec.51-ssec.2) For subsection (1) (d) , the information the revenue commissioner may ask a petroleum producer to provide in the royalty estimate includes the following— a statement of each type of petroleum the producer expects to produce in the estimate period; for each type of petroleum stated under paragraph (a) , an estimate of the following for the estimate period— the volume of petroleum the producer expects to produce; the volume of petroleum the producer expects to be exempt from petroleum royalty under section 591 or 591A of the Act ; the volume of petroleum the producer expects to be subject to the benchmark price for the petroleum; the average sales price for the petroleum for the petroleum producer for the estimate period. (sec.51-ssec.3) Subsection (2) does not limit the information the revenue commissioner may ask to be included in the royalty estimate. (sec.51-ssec.4) In this section— type , of petroleum, means— domestic gas; or supply gas; or project gas; or liquid petroleum.