PETROLEUM (SUBMERGED LANDS) ACT 1982 - SECT 91
PETROLEUM (SUBMERGED LANDS) ACT 1982 - SECT 91
(1) Subject to this
section, there is payable to the Minister in respect of an entry in the
register of a memorandum of the transfer of a title under section 77 a
fee at the rate of 1.5 per cent of—
(a) the
value of the consideration for the transfer; or
(b) the
value of the title transferred,
whichever is the greater, or, if the amount of that fee is less than the
prescribed amount, a fee of the prescribed amount.
(2) Where—
(a) a
fee imposed by this section, as in force at any time, in respect of an entry
of approval of an instrument or dealing, being an instrument or dealing
pursuant to which the transfer of a title is agreed to, has been paid; and
(b) but
for this subsection, the amount of the fee imposed by subsection (1) in
respect of the entry of a memorandum of the transfer of the title, being a
transfer executed for the purpose of giving effect to the instrument or
dealing referred to in paragraph (a), would be greater than the
prescribed amount,
the amount of the fee imposed by subsection (1) in respect of the entry
of the memorandum of the transfer is the prescribed amount.
(3) Where—
(a) the
parties to a transfer of a title lodged for approval under section 77
satisfy the Minister that—
(i)
those parties are related corporations within the meaning
of the Companies (South Australia) Code ; and
(ii)
the transfer was executed solely for the purpose of a
reorganisation of the corporations concerned or any of them or solely for the
purpose of securing the better administration of the corporations concerned or
any of them; and
(iii)
the transfer was not executed substantially for the
purpose of avoiding or reducing the registration fees that would, but for this
subsection, be payable under subsection (1) in respect of the entry of a
memorandum of the transfer; and
(b) but
for this subsection, the amount of the fee imposed by subsection (1) in
respect of the entry of the memorandum of the transfer of the title would be
more than the prescribed amount,
the amount of the fee imposed by subsection (1) in respect of the entry
of the memorandum of the transfer is the prescribed amount.
(4) Subject to this
section, there is payable to the Minister in respect of an entry in the
register of the approval of a dealing under section 80 a fee at the rate
of 1.5 per cent of—
(a) the
value of the consideration for the dealing or, if the Minister approves the
dealing in relation to another title or titles, an amount equal to the value
of the consideration for the dealing divided by the number of titles in
relation to which the dealing is approved; or
(b) in a
case where—
(i)
the entry of approval relates to an interest in a licence
or pipeline licence; and
(ii)
the value of the interest is greater than the amount
applicable under paragraph (a); and
(iii)
the dealing has an effect of the kind referred to in
section 80(1)(a), (b) or (d); and
(iv)
the Minister is satisfied that the dealing was not made
pursuant to another dealing or an instrument, being a dealing or instrument
that relates to that title and in respect of an entry of approval of which a
fee has been paid under this section as in force at any time,
the value of the interest.
(5) Where—
(a) but
for this subsection, the amount of the fee imposed by subsection (4) in
relation to an entry of approval of a dealing would be less than the
prescribed amount; or
(b) an
approval under section 80 is given in respect of a dealing that is a
dealing to which that section applies by reason only that the dealing creates,
varies or terminates a charge over some or all of the assets of a body
corporate,
the amount of the fee imposed by subsection (4) in respect of the entry
of that approval is the prescribed amount.
(6) Where—
(a) the
parties to a dealing lodged for approval under section 80 satisfy the
Minister that—
(i)
those parties are related corporations within the meaning
of the Companies (South Australia) Code ; and
(ii)
the dealing was entered into solely for the purpose of a
reorganisation of the corporations concerned or any of them or solely for the
purpose of securing the better administration of the corporations concerned or
any of them; and
(iii)
the dealing was not entered into substantially for the
purpose of avoiding or reducing the registration fees that would, but for this
subsection, be payable under subsection (4) in respect of the entry of
approval of the dealing; and
(b) but
for this subsection, the amount of the fee imposed by subsection (4) in
relation to the entry of approval of the dealing would be more than the
prescribed amount,
the amount of the fee imposed by subsection (4) in respect of the entry
of approval of that dealing is the prescribed amount.
(7) For the purposes
of calculating the amount of the fee imposed by subsection (4) in respect
of an entry of approval of a dealing, the value, as determined by the
Minister, of any exploration works to be carried out pursuant to the dealing,
being works that were, at the time when the application for approval of the
dealing was lodged, required or permitted to be carried out by or under the
relevant title, shall be deducted from the value of the consideration for the
dealing or from the value of the interest in the relevant licence as the case
requires.