(1) In this section
—
Agreement means the agreement a copy of which is
set out in the First Schedule —
(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;
(iv)
the fourth variation agreement;
(v)
the fifth variation agreement.
(2) Clause 9(2)(j) of
the Agreement is varied —
(a) in
subparagraph (ii) by deleting “three and three quarter per centum
(3¾%)” and inserting —
5.625%
(b) in
subparagraph (iii) by deleting “aforesaid);” and inserting —
aforesaid) until 30 June 2010 and thereafter at
the rate of 5.625% of the f.o.b. value (computed as aforesaid);
(c) in
subparagraph (iv) by deleting “one shilling and sixpence (1/6d) per
ton;” and inserting —
5% of the f.o.b. value
(computed as aforesaid);
(3) Clause
9(2)(j)(ii), (iii) and (iv) of the Agreement as varied 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 9 of the Agreement
in respect of any period before the commencement of the Iron Ore Agreements
Legislation Amendment Act 2010 Part 10 1 .
[Section 4A inserted: No. 34 of 2010 s. 23.]