New South Wales Consolidated Acts

FORESTRY ACT 2012 - SECT 53

53 Apportionment of resource acquisition fee--prescribed land

(1916 Act, s 30E)

(1) This section applies to a resource acquisition fee payable in respect of timber, forest products or forest materials taken on or from prescribed land.

(2) If a resource acquisition fee to which this section applies is paid to the Corporation, the Corporation is required to pay to the landholder concerned (other than Local Land Services) one-third of the balance of the resource acquisition fee remaining after deduction of the following amounts--

(a) any part of the resource acquisition fee that is payable under section 52,

(b) any costs incurred by the Corporation in connection with the establishment, planting, maintenance, improvement and protection of the timber, forest products or forest materials,

(c) any costs incurred by the Corporation in connection with the facilitation of the taking of the timber, forest products or forest materials, including the costs of construction and maintenance of roads, bridges, gates, ramps and incidental works.

(3) The costs that are deductible under subsection (2)(b) and (c) are to be as determined by the Corporation.

(4) A share of the resource acquisition fee payable by the Corporation to a landholder under this section must be paid before the expiration of one month after the end of the financial year of the Corporation that is current when the resource acquisition fee concerned is paid to the Corporation.

(5) This Division does not entitle a landholder to be paid an amount of a resource acquisition fee in respect of the taking of timber, forest products or forest materials under a licence held by the landholder.