Queensland Numbered Acts

MINERAL AND ENERGY RESOURCES AND OTHER LEGISLATION AMENDMENT ACT 2020 - SECT 63

63 Replacement of s 20 (Unpaid royalties prevent transfer of resource authority)

Section 20 —
omit, insert—

20 Unpaid royalties prevent registration of dealing

(1) This section applies if a prescribed dealing or notifiable dealing is a transfer of a resource authority or a share in a resource authority.

(2) However, this section does not apply to a transfer of a share in a resource authority if—

(a) the share is being transferred to a person who already holds a share in the resource authority; and

(b) the person transferring the share continues, after the transfer, to hold a share in the resource authority.

(3) The prescribed dealing or notifiable dealing must not be registered, and can not take effect, under this part while any royalty payable by the holder of the resource authority remains unpaid.