85Royalty

85 Royalty

85 Royalty

(1) The holder of a petroleum title must pay to the Crown a royalty in respect of all petroleum recovered by the holder of the title in the area comprised in the title.

(2) The royalty is payable at the rate prescribed by the regulations.

(3) The rate of royalty may be prescribed—

(a) as a percentage of the value at the well-head of the petroleum, or

(b) by reference to such other matters as the regulations specify.

(4) This section does not apply to methane recovered in conjunction with coal mining operations.

s 85: Am 2000 No 90, Sch 2.2 [15]; 2012 No 84, Sch 1.1 [1]; 2014 No 37, Sch 4.6 [3].