5
CurrentRelevant revenue‑sharing agreements
5 Relevant revenue‑sharing agreements
Where:
(a)
a State and the person or persons who produce market petroleum from a production unit have entered into a relevant resource rent royalty agreement providing for a royalty in respect of market petroleum produced from that unit on or after 1 July in a year after 1984 specified in the agreement; and
(b)
the State requests the Commonwealth to enter into a relevant revenue‑sharing agreement in respect of royalty payable under that relevant resource rent royalty agreement;
the Minister may arrange for the Commonwealth to enter into that relevant revenue‑sharing agreement with the State.
This Act’s bill:Second reading speech
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