94LAmount of administrative levy

#### 94L Amount of administrative levy 94L Amount of administrative levy > > (1) The amount of an administrative levy is one percent of the security deposit amount. > > > (2) The security deposit amount is the amount of the security deposit required to be given and maintained under a security deposit condition that has effect in relation to the petroleum title for which the administrative levy is payable when liability for the levy arises. > > > (3) If a single security deposit is required to be given and maintained in respect of more than one petroleum title, the amount of the administrative levy is— > > > > > (a) one percent of the relevant proportion of the security deposit amount, or > > > > > (b) one percent of the minimum deposit for the petroleum title at the date liability arises, > > > > whichever is the greater. > > > (4) The relevant proportion is the proportion that one bears to the number of petroleum titles for which the security deposit is required to be given and maintained (disregarding any petroleum titles that have been cancelled or have otherwise ceased to have effect before liability arises). > > > (5) A security deposit is required to be given and maintained under a security deposit condition even if the condition requires the security deposit to be given at a future date or within a period ending on a future date. > > > (6) If no security deposit is required to be given and maintained in respect of a petroleum title on a date liability for an administrative levy arises, and there is a minimum deposit for the petroleum title at that date, the security deposit amount is taken to be that minimum deposit. > > > (7) For the purpose of enabling payment of the first administrative levy in advance of liability arising, the Minister is to give notice to an applicant for the grant of a petroleum title of any security deposit condition that will be imposed on the grant. > > **pt 7A, divs 3–5 (ss 94E–94M):** Ins 2012 No 46, Sch 6.1 \[12\].