Queensland Numbered Acts

MINERAL AND ENERGY RESOURCES (FINANCIAL PROVISIONING) ACT 2018 - SECT 50

50 Refund of contribution to previous holder

(1) This section applies if—

(a) a holder of an authority (a
"previous holder" ) pays a contribution; and

(b) during the 12 months after the contribution is paid, the scheme manager makes a changed holder review decision that has the effect of another holder of the authority (the
"changed holder" ) being liable to pay a contribution, or give a surety, under this part.

(2) The scheme manager must, within 30 business days after the changed holder pays the contribution or gives the surety under this part, refund to the previous holder the pro rata amount of the contribution relating to the remainder of the year after the decision.

(3) In this section—

"pro rata amount" , of a contribution relating to the remainder of a year, means the proportion of the amount of the contribution that is the same proportion that the remainder of the year bears to the whole year.