Commonwealth Numbered Acts

MINERALS (SUBMERGED LANDS) (ROYALTY) ACT 1981 No. 82, 1981 - SECT 9

9. (1) Royalty under this Act in respect of any mineral recovered during a
royalty period is payable within 1 month after the last day of that royalty
period.

(2) Where an amount of royalty under this Act is not paid as provided by
sub-section (1), there is payable to the Designated Authority by the licensee
an additional amount calculated at the rate of one-third of 1% per day upon
the amount of royalty from time to time remaining unpaid, to be computed from
the time when the royalty became payable until it is paid.

(3) An additional amount is not payable under sub-section (2) in respect of
any period before the expiration of-

   (a)  if the rate of royalty payable in respect of the mineral recovered is
        related to the landed value of the mineral-7 days after the landed
        value of the mineral was agreed or determined under section 7; or

   (b)  if the rate of royalty payable in respect of the mineral recovered is
        related to the quantity of the mineral-7 days after the quantity of
        the mineral was agreed or determined under section 8.