OFFSHORE MINERALS ACT 1994 - SECT 426 Payments by the Commonwealth to the States--other payments

OFFSHORE MINERALS ACT 1994 - SECT 426

  (1)   The Commonwealth must pay each State amounts equal to all money that is payable to the Designated Authority for the Commonwealth - State offshore area for that State on behalf of the Commonwealth:

  (a)   under this Act; or

  (b)   under an associated revenue Act other than the Royalty Act.

Note:   For associated revenue Act see section   4.

  (2)   Payments under subsection   ( 1) are to be made in accordance with arrangements approved by the responsible Commonwealth Minister.