Northern Territory Consolidated Acts

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PETROLEUM ACT - SECT 53

Annual fee

    (1)     The annual fee payable in relation to a production licence is the prescribed amount per block or part of a block per annum.

    (2)     Other than in relation to the first year of a production licence after it is granted or renewed, for the purposes of subsection (1), the annual fee:

        (a)     is payable in advance; and

        (b)     is calculated on the number of blocks held,

by the production licensee on the anniversary of the commencement of his licence or its last renewal.



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