Western Australian Current Acts Western Australian Current Acts (1) In this section
—
Agreement means the Principal Agreement —
(a) as
varied from time to time in accordance with its provisions; and
(b) as
varied by these agreements —
(i)
the first Variation Agreement;
(ii)
the second Variation Agreement;
(iii)
the third Variation Agreement.
(2) Clause 31(1) of
the Agreement is varied —
(a) in
paragraph (aa)(ii) by deleting “3.75%” and inserting —
5.625%
(b)
after paragraph (aa) by inserting —
(ab) on
iron ore products being fine ore and fines where such fine ore or fines are
sold or shipped separately as such — at the rate of 5.625% of the f.o.b.
revenue (computed as mentioned in paragraph (a) of this subclause);
(ac) on
iron ore products being iron ore concentrates — at the rate of 5% of the
f.o.b. revenue (computed as mentioned in paragraph (a) of this subclause);
(3) Clause
31(1)(aa)(ii) of the Agreement as varied, and clause 31(1)(ab) and (ac) as
inserted in the Agreement, by subsection (2) operate and take effect despite
—
(a) any
other provision of the Agreement; and
(b) any
other agreement or instrument; and
(c) any
other Act or law.
(4) Nothing in this
section affects the amount of royalty payable under clause 31 of the Agreement
in respect of any period before the commencement of the Iron Ore Agreements
Legislation Amendment Act 2010 Part 5.
[Section 7 inserted: No. 34 of 2010 s. 11.]