Queensland Numbered Acts

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MINERAL AND ENERGY RESOURCES (COMMON PROVISIONS) ACT 2014 No. 47 - SECT 172

172 Reconciliation payments and replacement gas

(1) This section applies if—

(a) under this division, a PL holder receives a compensation payment from an ML (coal) holder for lost production; and
(b) the PL holder subsequently recovers coal seam gas that was the subject of the compensation payment.

(2) The PL holder is liable to give the ML (coal) holder—

(a) a payment (a reconciliation payment) for the coal seam gas recovered; or
(b) an amount of coal seam gas (replacement gas) that is equal to the amount of coal seam gas recovered; or
(c) both of the following—
(i) a payment (also a reconciliation payment) for part of the coal seam gas recovered;
(ii) an amount of coal seam gas (also replacement gas) that is equal to the amount of coal seam gas recovered that is not the subject of the reconciliation payment under subparagraph (i).

(3) The amount of a reconciliation payment—

(a) must be calculated in the way, and consistent with the principles, prescribed by regulation; and
(b) must not be more than the compensation payment.


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