Regulation 3 of the Principal Regulations is amended as follows:

(a) by inserting the following definition after the definition of Act :

amount received means the amount received from an arm's length transaction based on a world price contract at the value of the Australian dollar at the time the amount was received, excluding any hedging gains or losses;

(b) by inserting the following definitions after the definition of datum post :

gold dore means an alloy of gold and silver resulting from the treatment of gold-bearing minerals;

metal means a metallic mineral specified in Part 1 of Schedule 4 refined to an elemental state;

(c) by inserting ", as calculated in a royalty return submitted under regulation 11E " after "costs" in the definition of net sale ;

(d) by inserting the following definition after the definition of quarter :

reference rate means the 30 Day Bank Bill Swap Reference Rate published daily by the Australian Financial Markets Association;

(e) by omitting the definition of sale costs and substituting the following definition:

sale costs includes –

(a) any costs incurred by the lessee or the licensee in transporting a mineral outside the mineral tenement to the point of sale; and

(b) any costs incurred by the lessee or the licensee in refining a mineral outside the mineral tenement before sale; and

(c) any other costs approved by the Minister;

(f) by omitting "purposes." from the definition of year and substituting "purposes;" ;

(g) by inserting the following definition after the definition of year :

yearly profit means the yearly profit as calculated in a royalty return submitted under regulation 11E .