94KLiability for administrative levy

94K Liability for administrative levy

94K Liability for administrative levy

(1) The administrative levy payable under this Part for a petroleum title is an annual administrative levy.

(2) Liability for an administrative levy arises on the grant of a petroleum title and on each grant anniversary date that occurs during the term of a petroleum title.

(3) An administrative levy for which liability arises on the grant of a petroleum title must be paid, in advance, before the petroleum title is granted.

(4) A petroleum title must not be granted until the first administrative levy is paid.

(5) An administrative levy for which liability arises on a grant anniversary date must be paid within the period (of not less than 7 days) specified by the Secretary by notice in writing served on a person liable.

pt 7A, divs 3–5 (ss 94E–94M): Ins 2012 No 46, Sch 6.1 [12].