34
In forceLiability to pay royalty under lease
Part 4Production of geothermal energy
Division 3Payment of royalties
34 Liability to pay royalty under lease
(1) The Minister may include a condition in each geothermal production lease that the lease holder must pay to the Minister a royalty in relation to all geothermal energy extracted under the lease.
(2)
The regulations may prescribe any of the following:
(a)
the rate at which a royalty is payable by each lease holder;
(b)
the method of calculating the rate of payment of a royalty;
(c)
the frequency and manner of payment of royalties;
(d)
matters incidental to the payment of royalties.
Regulations
This provision refers to the regulations (The regulations may prescribe
). Made under this Act:
This Act’s bill:Explanatory statementSecond reading speech
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.