South Australian Consolidated Acts South Australian Consolidated Acts17E—Penalty for unpaid royalty
(1) If royalty payable
on minerals under this Act (other than extractive minerals recovered from a
private mine) is not paid on or by the day on which it fell due, the person
liable to pay the royalty is liable to pay a penalty amount, in addition to
the amount of royalty unpaid, equal to $1 000 plus the prescribed amount
for each month (or part of a month) for which the royalty remains unpaid.
(2) The Minister may,
at the Minister's discretion, remit a penalty amount payable under
subsection (1) by any amount.
(3) A penalty amount
may be recovered by the Crown as a debt due to the Crown in any court of
competent jurisdiction.
(4) In this
section—
"prescribed amount" is to be calculated as follows:
where—
"PA" is the prescribed amount;
"R" is the amount of unpaid royalty;
"CLRR" is the corporate loan reference rate applied by the Commonwealth Bank
of Australia for corporate lending on the day on which the royalty fell due.