Queensland Consolidated Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]
MINERAL RESOURCES ACT 1989 - SECT 193
Rental payable on mineral development licence
193 Rental payable on mineral development licence
(1) Rental for the first year of the term of a mineral development licence
(its
"first rental period" ) is payable before the granting of the licence under
section 186 .
(2) The amount of the rental payable in respect of the
first rental period shall be an amount that bears to the rental payable for a
rental year prescribed pursuant to subsection (4) for the rental year in which
the first rental period falls the same proportion that the number of whole
calendar months of the first rental period bears to 12.
(3) In respect of
each rental year or part thereof of the term of a mineral development licence
(other than the first rental period) a full rental year’s rental shall be
payable in advance not later than 31 August of the previous rental year.
(4)
If the full rental payable for a rental year is paid in advance as prescribed
by subsection (3) , the amount of the rental shall be the amount prescribed
under a regulation for that rental year.
(5) If, for a particular rental
year, rental is not paid in advance as prescribed by subsection (3) — (a)
the Minister shall, prior to 30 September of that rental year, notify the
holder of and any person holding a recorded interest in the mineral
development licence (other than an associated agreement recorded in the
register under the Common Provisions Act ) that the rental has not been paid
as prescribed by subsection (3) and of the amount of rental as prescribed by
paragraph (b) ; and
(b) the amount of the full rental payable for the rental
year shall be payable before 1 December of that rental year and shall be an
amount equal to the amount prescribed under a regulation for that rental year
plus an amount equal to 15% of that prescribed amount.
(6) Upon the renewal
of a mineral development licence, no further rental shall be payable in
respect of the period that, if the renewal was a grant of a mineral
development licence, would be the first rental period, except where that
period commences on 1 September.
(7) Except as provided in subsection (8) ,
where in any rental year a mineral development licence is surrendered or
terminated through effluxion of time and is not renewed there shall be
refundable to the last holder of the mineral development licence an amount
that bears to the amount of the rental that was paid in respect of that rental
year the same proportion that the number of whole calendar months from— (a)
the date of surrender or termination; or
(b) the date of rejection of the
application for renewal;
whichever is the later, to 31 August of that rental
year bears to 12.
(8) No amount shall be refunded pursuant to subsection (7)
where a mineral development licence is surrendered within its
first rental period after its original grant.
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback