149AProvisional payment of royalty

149A Provisional payment of royalty (1) Where, in relation to petroleum recovered during a royalty period, the value of the petroleum has not been agreed or determined under section 146, the Minister may determine a provisional value. (a) a provisional value of any petroleum has been determined under subsection (1); and (b) the value of that petroleum has not yet been agreed or determined under section 146; the Act operates in relation to that petroleum as if: (c) the provisional value of the petroleum were its value; and (d) the determination of the provisional value were an agreement or determination under section 146.

Petroleum (Submerged Lands) Act 1981 143