Commonwealth Consolidated Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 632

Provisional value

  (1)   If:

  (a)   an amount is payable under subsection   16(2) of the Royalty Act; and

  (b)   paragraph   16(1)(a) of the Royalty Act applies;

the amount is due and payable at the end of the next royalty period following the royalty period in which the agreement or determination mentioned in that paragraph was made.

Error in calculation etc.

  (2)   If:

  (a)   an amount is payable by a person under subsection   16(2) of the Royalty Act; and

  (b)   paragraph   16(1)(b) of the Royalty Act applies;

the amount is due and payable at the end of the next royalty period following the royalty period in which the error mentioned in that paragraph was notified to the person.

Definition

  (3)   In this section:

"royalty period" has the same meaning as in the Royalty Act.