DUTIES ACT 2001 - SECT 84K Lodgement requirement on expenditure of exploration amount

DUTIES ACT 2001 - SECT 84K

84K Lodgement requirement on expenditure of exploration amount

The farmee under an upfront farm-in agreement must, within 14 days after spending the exploration amount for each interest in the exploration authority, lodge—

(a) information, in the approved form, about the expenditure of the exploration amount; and

(b) the upfront farm-in agreement or a transfer duty statement for the agreement.

Note—

Under the Administration Act , the requirement under this section is a lodgement requirement for which a failure to comply is an offence under section 121 of that Act.