94CFees payable in respect of petroleum title

94C Fees payable in respect of petroleum title

94C Fees payable in respect of petroleum title

(1) The following fees are payable under this Part to the Secretary, on behalf of the Crown, for the privilege of being the holder of a petroleum title—

(a) a title fee,

(b) an annual rental fee,

(c) an administrative levy.

(2) The fees are payable in addition to any royalty payable under Part 7 and any other fees payable under this Act.

(3) The holder of a petroleum title must not fail to pay any annual rental fee or administrative levy payable under this Part for the petroleum title.

Maximum penalty—

(a) in the case of a corporation—100 penalty units, or

(b) in the case of a natural person—50 penalty units.

s 94C: Ins 2012 No 46, Sch 6.1 [12]. Am 2015 No 40, Sch 2 [37].