Queensland Numbered Acts

MINERAL RESOURCES AND OTHER LEGISLATION AMENDMENT ACT 2005 No. 8 - SECT 13

Section 138--

omit, insert--

'(1) On the grant of an exploration permit (the original permit), rental is payable--

(a) for the first year of the term of the permit (its first rental period); and

(b) within 20 business days after the grant.

'(2) On the renewal of an exploration permit, rental is payable--

(a) for the first year of the term of the renewed permit; and

(b) within 20 business days after the renewal is granted.

'(3) For each year an exploration permit is in force, rental for the whole year (other than its first rental period) is payable on or before the anniversary of--

(a) for an original permit--the grant of the permit; or

(b) for a renewed permit--the day the term of the renewed permit started.1

'(4) The amount of the rental payable for each year is calculated by multiplying the number of sub-blocks to which the permit applies by the amount prescribed under a regulation for the year.'.