Commonwealth Numbered Acts

PETROLEUM (SUBMERGED LANDS) (ROYALTY) AMENDMENT ACT 1980 No. 81, 1980 - SECT 7

7. (1) Section 12 of the Principal Act is amended-

   (a)  by inserting after sub-section (2) the following sub-sections:



"(2A) The Joint Authority shall give directions to the Designated Authority
with respect to the manner in which the Designated Authority is to exercise
his powers under clauses 7, 8 and 12 of a licence to which this section
applies and the Designated Authority shall not exercise any of those powers
except in accordance with directions so given.



"(2B) A licence to which this section applies has effect as if it contained a
provision in accordance with sub-section (2A) and as if the reference in
clause 12 (as affected by sub-section (2) of this section) to the Designated
Authority being satisfied included a reference to the Joint Authority being
satisfied.



"(2C) Moneys paid to the Designated Authority after the commencement of this
sub-section by way of royalty in accordance with a licence to which this
section applies shall be received by the Designated Authority on behalf of the
Commonwealth."; and

(b) by inserting in sub-section (3) "2," after "Sections".

(2) The application of sub-sections (2A) and (2B) inserted by this section
extends to the exercise of powers of the Designated Authority in respect of a
royalty period that commenced before the commencement of this Act (including a
period that terminated before the commencement of this Act).
------------------------------------------------------------------------------
--