Victorian Current Acts Victorian Current Acts(1) A petroleum exploration permittee who is the registered holder of an applicable petroleum exploration permit must pay to the Minister a fee calculated in accordance with the regulations in respect of each year of the term of the permit.
(2) The fee in respect of the first year of the term of an applicable petroleum exploration permit is due and payable on the day the term of the permit begins (the first payment day ).
(3) The fee in respect of a later year of the term of an applicable petroleum exploration permit is due and payable on the day falling on the anniversary of the first payment day in the remaining years of the term of the permit.
(4) In this section—
"applicable petroleum exploration permit" means—
(a) a work-bid petroleum exploration permit; or
(b) a special petroleum exploration permit.