PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 75 Petroleum royalty and annual rent

PETROLEUM AND GAS (PRODUCTION AND SAFETY) ACT 2004 - SECT 75

75 Petroleum royalty and annual rent

(1) An authority to prospect holder must pay the State—

(a) petroleum royalty as required under chapter 6 ; and

(b) the annual rent, as prescribed under a regulation.

(2) The annual rent must be paid in the way, and on or before the day, prescribed under a regulation.