Commonwealth Consolidated Regulations

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE (REGULATORY LEVIES) REGULATIONS 2022 - REG 59AB

Remittal of levy

  (1)   For the purposes of subsection   695M(3) of the OPGGS Act, the Titles Administrator must remit an amount of levy, worked out under subsection   (3), if:

  (a)   the levy is imposed on a title for a year; and

  (b)   the title wholly ceases to be in force at a particular time during the year, other than in the circumstances mentioned in subsection   (4); and

  (c)   the levy has not been paid by that time.

Refund of levy

  (2)   For the purposes of subsection   695M(3) of the OPGGS Act, the Titles Administrator must refund an amount of levy, worked out under subsection   (3), if:

  (a)   the levy is imposed on a title for a year; and

  (b)   the title wholly ceases to be in force at a particular time during the year, other than in the circumstances mentioned in subsection   (4); and

  (c)   the levy has been paid by that time.

Amount to be remitted or refunded

  (3)   The amount to be remitted under subsection   (1), or refunded under subsection   (2), is worked out in accordance with the formula:

Circumstances in which remittal or refund is not applicable under this section

  (4)   For the purposes of paragraphs   (1)(b) and (2)(b), the circumstances are that:

  (a)   the title is wholly cancelled under section   275 or 447 of the OPGGS Act during the year; or

  (b)   the title is wholly surrendered under section   271 or 443 of the OPGGS Act during the year.

Note:   For paragraph   (4)(b), see section   59AD for the remittal or refund of levy in the circumstance that a title is wholly surrendered during the year and the application for consent to surrender the title is made before the beginning of that year.