92Imposition of registration fees

92 Imposition of registration fees (1) In this section title means a permit, lease, licence, pipeline licence

Petroleum (Submerged Lands) Act 1981 89 (2) Subject to this section, there is payable to the Minister in respect of an entry in the register of a memorandum of the transfer of a title under section 78 a fee at the rate of 1.5% of: (a) the value of the consideration for the transfer; or (b) the value of the title transferred, whichever is the greater or, if the amount of that fee is less than the prescribed amount, a fee of the prescribed amount. (a) a fee imposed by subsection (5) in respect of an entry of approval of a dealing, being a dealing pursuant to which the transfer of a title is agreed to, has been paid; and subsection (2) in respect of the entry of a memorandum of the transfer of the title, being a transfer executed for the purpose of giving effect to the dealing referred to in paragraph (a), would be greater than the prescribed amount, the amount of the fee imposed by subsection (2) in respect of the entry of the memorandum of the transfer is the prescribed amount. (a) the parties to a transfer of a title lodged for approval under section 78 satisfy the Minister that: (i) they are related corporations within the meaning of the Corporations Act 2001; (ii) the transfer was executed solely for the purpose of a reorganization of the corporations concerned or any of them or solely for the purpose of securing the better administration of the corporations concerned or any of them; and (iii) the transfer was not executed substantially for the purpose of avoiding or reducing the registration fees that would, but for this subsection, be payable under subsection (2) in respect of the entry of a memorandum of the transfer; and subsection (2) in respect of the entry of the memorandum of the transfer of the title would be more than the prescribed amount,

Petroleum (Submerged Lands) Act 1981 90 the amount of the fee imposed by subsection (2) in respect of the entry of the memorandum of the transfer is the prescribed amount. (5) Subject to this section, there is payable to the Minister in respect of an entry in the register of the approval of a dealing under section 81 a fee at the rate of 1.5% of: (a) the value of the consideration for the dealing or, if the Minister approves the dealing in relation to another title or other titles, an amount equal to the value of the consideration for the dealing divided by the number of titles in relation to which the dealing is approved; or (b) in a case where: (i) the entry of approval relates to an interest in a licence or pipeline licence; (ii) the value of the interest is greater than the amount applicable under paragraph (a); (iii) the dealing has an effect of the kind referred to in section 81(1)(a), (b) or (d); and (iv) the Minister is satisfied that the dealing was not made pursuant to another dealing, being a dealing that relates to that title and in respect of an entry of approval of which a fee imposed by this subsection has been paid, the value of the interest. (a) but for this subsection, the amount of the fee imposed by subsection (5) in relation to an entry of approval of a dealing would be less than the prescribed amount; or (b) an approval under section 81 is given in respect of a dealing that is a dealing to which that section applies by reason only that the dealing creates, varies or terminates a charge over some or all of the assets of a body corporate, the amount of the fee imposed by subsection (5) in respect of the entry of that approval is the prescribed amount.