Commonwealth legislation

Petroleum (Submerged Lands) (Production Licence Fees) Regulations

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

56 of 1990

Collection

legislative instrument

Plain English Summary

1/10 complexity

This regulation sets the price tag for offshore oil and gas production licences. What it does: It fixes the annual fee at $18,000 per "block" (a specific area of seabed) covered by the licence. Who it affects: Oil and gas companies holding production licences to extract petroleum from Australia's offshore waters (submerged lands). Why it matters: This is the base rent companies pay the government each year just to keep their drilling rights—separate from taxes or royalties on what they actually produce. The fee is due at the start of each licence year.

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Current sections

Direct links to the current provisions in Petroleum (Submerged Lands) (Production Licence Fees) Regulations.

Petroleum (Submerged Lands) (Production Licence Fees) Regulations

Commonwealth Coat of Arms of Australia

Statutory Rules 1990 No. 561

––––––––––––

Petroleum (Submerged Lands) (Production Licence Fees) Regulations

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and pursuant to section 4 of the Acts Interpretation Act 1901, hereby make the following Regulations under the Petroleum (Submerged Lands) (Production Licence Fees) Act 1967.

Dated 19 February 1990.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

PETER COOK

Minister of State for Resources

–––––––––––––

Citation

1. These Regulations may be cited as the Petroleum (Submerged Lands) (Production Licence Fees) Regulations.

Interpretation

2. In these Regulations, unless the contrary intention appears:

“the Act” means the Petroleum (Submerged Lands) (Production Licence Fees) Act 1967.

Licence fees—subsection 4 (1) of the Act

3. For the purposes of subsection 4(1) of the Act, the fee payable is $18,000 for each block to which the licence relates at the commencement of the year.

NOTE

1. Notified in the Commonwealth of Australia Gazette on 27 February 1990.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Petroleum (Submerged Lands) (Production Licence Fees) Regulations

Statutory Rules 1990 No. 561

––––––––––––

Petroleum (Submerged Lands) (Production Licence Fees) Regulations

Dated 19 February 1990.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

PETER COOK

Minister of State for Resources

–––––––––––––

Citation

1. These Regulations may be cited as the Petroleum (Submerged Lands) (Production Licence Fees) Regulations.

Interpretation

2. In these Regulations, unless the contrary intention appears:

“the Act” means the Petroleum (Submerged Lands) (Production Licence Fees) Act 1967.

Licence fees—subsection 4 (1) of the Act

3. For the purposes of subsection 4(1) of the Act, the fee payable is $18,000 for each block to which the licence relates at the commencement of the year.

NOTE

1. Notified in the Commonwealth of Australia Gazette on 27 February 1990.