116Royalties and advance payments etc.

116 Royalties and advance payments etc. (1) The Minister may, by notice in the Gazette, determine for the Territory or a part of the Territory: (a) the manner in which; and Territory Parks and Wildlife Conservation Act 1976 93 (b) the rates at which, royalties in respect of wildlife the property of the Territory taken under a permit are to be assessed. (2) A royalty assessed under subsection (1) is a debt due and payable to the Territory by the holder of the permit. (3) The Regulations may provide for: (a) the payment of prescribed amounts in advance by the holder of a permit and the crediting of amounts so paid towards royalties subsequently payable by the holder to the Territory; (b) the calculation of the amount to be paid to the Territory as royalties as a proportion of profits earned from commercial dealings in respect of wildlife and the deferral of the payment of those royalties; and (c) the payment of royalties owing to the Territory by: (i) the provision of services of an equivalent value to or at the direction of the Territory; or (ii) entering into a joint venture or a profit sharing agreement with the Territory the terms of which provide for the payment of royalties to the Territory by the provision of capital or services of the equivalent value or out of any profit made to or at the direction of the Territory.