Mineral Resources Act 1989

Chapter 11, part 3, divisions 2 and 3, as in force on and from 1 July 2014, applies in relation to a royalty-related amount payable by a person for a period even if—

the period started before 1 July 2014; and

a person is liable to pay a royalty penalty amount because of a particular act or omission mentioned in section 331F, and that occurred before 1 July 2014.

For applying subsection (1) to royalty payable for a period occurring before 1 July 2014, an assessment or reassessment of royalty for the period that was made under the Act as in force before 1 July 2014 is taken to be an original assessment or reassessment, as the case may be, for chapter 11, part 3.

Subsection (4) applies if—

the royalty paid by a person for a period that ended before 1 July 2014 is less than the royalty payable by the person for the period (a royalty shortfall); and

before 31 December 2014, the person gives the Minister notice, in the approved form, of the royalty shortfall, including the amount of the royalty shortfall; and

before the person gives the Minister the notice, the Minister has not already notified the person of the royalty shortfall; and

after the commencement, the Minister makes a default assessment or reassessment of the royalty payable by the person for the period.

The person is not, under section 331E, liable for a royalty penalty amount in relation to the royalty shortfall under the default assessment or reassessment.

Subsection (2), as amended by the Revenue Legislation Amendment Act 2018, is taken to have applied from 1 July 2014.