Western Australian Current Acts Western Australian Current Acts[s. 2]
[Heading inserted: No. 26 of 1979 s. 4; amended:
No. 19 of 2010 s. 4.]
THIS AGREEMENT made the 9th day of May, 1979 BETWEEN THE HONOURABLE SIR
CHARLES WALTER MICHAEL COURT, K.C.M.G., O.B.E., M.L.A., Premier of the State
of Western Australia acting for and on behalf of the said State and
Instrumentalities thereof from time to time (hereinafter called “the
State”) of the one part and HAMERSLEY IRON PTY. LIMITED a company
incorporated under the Companies Act 1961 of the State of Victoria and having
its registered office and principal place of business in that State at 31
Spring Street, Melbourne, and its registered office in the State of Western
Australia at 191 St. George’s Terrace, Perth (hereinafter called
“the Company” which expression will include the successors and
assigns of the Company including where the context so admits the assignees and
appointees of the Company under clause 20 of the Principal Agreement as
hereinafter defined) of the other part —
WHEREAS:
It is desired to amend the Principal Agreement as
hereinafter provided.
NOW THIS AGREEMENT WITNESSETH:
1. In this Agreement subject to the context
—
“Principal Agreement” means the
Agreement referred to in section 2 of the Iron Ore (Hamersley Range) Agreement
Act 1963-1976 .
Words and phrases to which meanings are given under clause 1 of the Principal
Agreement (other than words and phrases to which meanings are given in the
foregoing provisions of this clause) shall have the same respective meanings
in this Agreement as are given to them under clause 1 of the Principal
Agreement.
2. The State shall introduce and sponsor a Bill in
the Parliament of Western Australia to ratify this Agreement and endeavour to
secure its passage as an Act.
3. The subsequent clause of this Agreement shall
not operate unless and until the Bill to ratify this Agreement referred to in
clause 2 hereof is passed as an Act before the 31st day of December, 1979 or
such later date if any as the parties hereto may mutually agree upon.
4. The Principal Agreement is hereby varied by
substituting for the proviso to paragraph (b) of subclause (1) of clause 9 the
following —
“PROVIDED THAT from and after the 1st day of
July, 1979 the Company will in addition to the rentals already referred to in
this paragraph pay to the State during the currency of this Agreement an
additional rental in respect of the mineral lease equal to twenty five (25)
cents per ton on all iron ore or (as the case may be) all iron ore
concentrates in respect of which royalty is payable under clause 10(2)(j)
hereof (hereinafter in this paragraph called the “royalty
tonnage”) such additional rental to be paid in respect of the same
periods and at the same times as the said royalty is payable under clause
10(2)(k) hereof but with the qualifications that —
A. no such additional
rental shall be payable in respect of a royalty tonnage in excess of eight
million (8 000 000) tons for the financial year ending the 30th day of June,
1980;
B. no such additional
rental shall be payable in respect of a royalty tonnage in excess of ten
million (10 000 000) tons for the financial year ending the 30th day of June,
1981;
C. no such additional
rental shall be payable in respect of the first seven million seven hundred
thousand (7 700 000) tons of the royalty tonnage (hereinafter for the purposes
of paragraph D and E of this proviso called “the exempt tonnage”)
for each of the financial years ending the 30th day of June, 1982, 1983 and
1984;
D. if the royalty
tonnage in any of the financial years ending the 30th day of June, 1982, 1983
and 1984 is less than the exempt tonnage, then that difference may be offset
by the Company against the royalty tonnage in subsequent financial years;
E. if the royalty
tonnage for the financial year ending the 30th day of June, 1980 does not
exceed eight million (8 000 000) tons and/or the royalty tonnage for the year
ending the 30th day of June, 1981 does not exceed ten million (10 000 000)
tons the exempt tonnage for each of the financial years ending the 30th day of
June, 1982, 1983 and 1984 shall be reduced by an amount arrived at by applying
to seven million seven hundred thousand (7 700 000) the proportion that the
total of any such deficiencies (for the financial years ending the 30th day of
June, 1980 and 1981) bears to eighteen million (18 000 000); and”
IN WITNESS WHEREOF these presents have been executed the day and year first
hereinbefore mentioned.
|
SIGNED by the said THE |
|
CHARLES COURT |
ANDREW MENSAROS
Minister for Industrial
Development.
|
THE COMMON SEAL OF HAMERSLEY |
|
[C.S.] |
C. A. WATTS,
Director.
L. A. WARNICK,
Secretary.
[Sixth Schedule inserted: No. 26 of 1979 s. 4.]
