(1) For the purposes
of section 13 of the Act, the amount of levy payable in respect of a
mining authorisation in a year is the amount worked out in accordance with the
following formula —
RLE × FCR
where —
FCR is the fund
contribution rate of 1%;
RLE is the
rehabilitation liability estimate for the mining authorisation for the year
worked out under subregulation (2).
(2) For the purposes
of subregulation (1), the rehabilitation liability estimate for a mining
authorisation for a year is the amount obtained by —
(a) for
each rehabilitation liability category —
(i)
working out the total area of land (expressed in hectares
and rounded to at least 2 decimal places) in the area of the mining
authorisation that was in that category on the assessment day in that year for
the mining authorisation; and
(ii)
multiplying the figure worked out under
subparagraph (i) by the unit rate that applies to that category;
and
(b)
adding together all of the amounts worked out under paragraph (a).
(3) Despite
subregulation (1), if the rehabilitation liability estimate worked out
under subregulation (2) is $50 000 or less, the amount of levy
payable in respect of the mining authorisation in the year is nil.
(4) The rehabilitation
liability categories of land in the area of a mining authorisation, and the
unit rates applying to those rehabilitation liability categories, are
determined in accordance with Schedule 1.