Western Australian Current Acts Western Australian Current Acts (1) Where the Minister
is satisfied that the rate of recovery of petroleum from a well has become so
reduced that, having regard to the rate or rates of royalty applicable under
section 143, further recovery of petroleum from that well would be uneconomic,
the Minister may, by instrument in writing determine that the royalty in
respect of all or any of the petroleum recovered from that well on or after a
date specified in the determination shall be at such rate (being a rate lower
than the rate that would be applicable under section 143) as the Minister
specifies.
(2) The prescribed
rate in respect of petroleum to which a determination under subsection (1) is
applicable is the rate specified in the determination.
(3) The Minister may,
by instrument in writing, revoke or vary a determination under subsection (1)
and the revocation or variation applies to petroleum recovered on or after
such date as is specified in the instrument.