Victorian Consolidated Regulations

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE REGULATIONS 2021 - REG 344

For the purposes of section 689(1) of the Act, the fee for a greenhouse gas holding lease for a year of the term of the lease is—

        (a)     in the case of a fee for a year beginning before 1 July 2025, 1797 fee units for each block to which the lease relates at the beginning of the year; or

        (b)     in the case of a fee for a year beginning on or after 1 July 2025, 2393 fee units for each block to which the lease relates at the beginning of the year.

Reg. 345 substituted by S.R. No. 65/2024 reg. 7.