Petroleum (Submerged Lands) Regulations 1987

(1) If an annual fee prescribed by regulation 8, 9, 10 or 11 is payable in respect of a period any of which is after 30 June 2000, the amount of the fee payable in respect of the period after 30 June 2000 is increased by the amount of the GST component.

(2) Despite that the fee in respect of a period after 30 June 2000 may have been paid, the additional amount of the GST component may be separately charged and is payable by the permittee, licensee or lessee (as the case may be) within one month after the date the charge is made.

(3) The GST component of a fee in respect of a period after 30 June 2000 is to be calculated in accordance with the formula:

GST component = (AF/10) x (GST period/366)

where:

AF is the relevant annual fee prescribed; and

GST period is the number of days that are in the period after 30 June 2000.

(4) In this regulation GST has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 of the Commonwealth.

Schedule 1

regulation 2

NORTHERN TERRITORY OF AUSTRALIA

Petroleum (Submerged Lands) Act 1981

TRANSFER OF TITLE UNDER SECTION 78

I/We⁽¹⁾⁽²⁾

being the registered holder/holders⁽¹⁾ of⁽³⁾

in consideration of⁽⁴⁾

hereby transfer all right, title and interest in that⁽³⁾

to⁽⁵⁾

IN WITNESS of this transfer the parties to the transfer have affixed their respective common seals or signatures below on this day of , 19 .

______________________________________________________________

_{(1) Delete whichever is inapplicable.}

_{(2) Here insert the name of the transferor, or where there are 2 or more transferors, the name of each transferor.}

_{(3) Here insert the type (e.g., exploration permit, production licence) and number of the property transferred that is a title within the meaning of section 78 of the Act.}

_{(4) Here insert the value of the consideration for the transfer or the value of the title transferred. Where the transfer of the title is pursuant to a dealing which has been approved and registered under the Act, insert a reference that is sufficient to identify that dealing.}

_{(5) Here insert the name and address of the transferee or, where there are 2 or more transferees, the name and address of each transferee.}

_{(6) Here affix the common seal or signature of the transferor or of each transferor, as the case may be.}

_{(7) Here affix the common seal or signature of the transferee or of each transferee, as the case may be.}