Queensland Consolidated Regulations

WATER REGULATION 2016 - REG 90

90 Apportionment of annual levy among petroleum tenure holders

(1) This section provides for the apportionment of the total annual levy payable by petroleum tenure holders for a financial year to classes of petroleum tenure holders according to the number of relevant sub-blocks in the areas of the petroleum tenures held by the petroleum tenure holders on the relevant date for the financial year.

(2) The total annual levy must be apportioned among petroleum tenure holders as follows—

(a) for a petroleum tenure holder who does not hold any relevant sub-blocks—nil;

(b) for each other petroleum tenure holder—according to the amount worked out by multiplying the number of relevant sub-blocks of each class in the areas of the petroleum tenures held by the holder on the relevant date by the amount worked out for each relevant sub-block of that class under section 89 (3) .