Mining Act 1971

In this section—

1 July to 31 December in a financial year;

1 January to 30 June in a financial year.

A designated tenement holder is a tenement holder who, in relation to a particular financial year (the relevant financial year), is designated by the Treasurer, after consultation with the

The Treasurer may only make a designation under subsection (2) in relation to a tenement holder if—

the royalty paid by the tenement holder in relation to the financial year immediately preceding the relevant financial year exceeds

taking into account the amount of royalty paid by the tenement holder, or expected by the Treasurer to be paid by the tenement holder, in relation to the financial year immediately preceding the relevant financial year, the Treasurer expects that the royalty to be paid by the tenement holder in relation to the relevant financial year will exceed $100 000;

a mine in relation to which royalty payments are to be made was not in production during the financial year immediately preceding the relevant financial year, or is expected by the Treasurer to be subject to increased production in the relevant financial year, and the Treasurer expects that the royalty to be paid by the tenement holder in relation to the relevant financial year will exceed $100 000; or

the Treasurer expects that the amount of royalty to be paid by the tenement holder in relation to the relevant financial year will be within 5% of the $100 000 threshold established by this section and accordingly determines to designate the tenement holder as being a tenement holder to whom this section applies.

For the purposes of subsection (3), the Treasurer may make or apply any estimate in order to determine whether or not it is expected that the royalty to be paid by a tenement holder in relation to a particular financial year will (or will not) reach or exceed a particular amount.

A designated tenement holder will, in relation to a relevant financial year, pay royalty on a monthly basis (rather than in accordance with section 17D(1)).

For the purposes of subsection (5)—

the Treasurer must, by 31 March immediately preceding the relevant financial year, serve a notice (a notice of assessment) on each designated tenement holder setting out the monthly payments of royalty that the tenement holder must make for the relevant financial year (subject to the operation of the succeeding subsections);

the designated tenement holder must then pay royalty on or before the last day of the month that immediately follows each month in the relevant financial year.

A monthly payment set out in a notice of assessment will be an amount which the Treasurer determines to be a reasonable amount taking into account an estimate made by the Treasurer of the amount of royalty that may be payable on account of the operation of sections 17 and 17A (as the case may require) in relation to the relevant financial year.

Subject to subsection (9), a monthly payment in relation to the last month of both half‑year periods in a relevant financial year will be the amount set out in the notice of assessment for that month adjusted to take into account any overpayment, or underpayment, of royalty that would otherwise occur over the half‑year period after applying the provisions of sections 17 and 17A (as the case may require) so as to ensure that the correct amount of royalty is paid in relation to the half‑year period by the end of the month that immediately follows the end of that period.

If an adjustment under subsection (8) will otherwise result in an entitlement to a refund of an amount to be paid as royalty in relation to the relevant half‑year period, the Treasurer may, at the Treasurer's discretion—

refund the amount of the excess to the tenement holder who has been paying the monthly amounts; or

set off the amount against a future liability to make payments of royalty under this Act.

The Treasurer may, after consultation with the Minister, on application by a person liable to pay royalty under this section or of his or her own motion—

by notice served on the tenement holder, vary a notice of assessment that has been issued to a designated tenement holder under this section, with the variation to have effect from a month in the relevant financial year specified by the Treasurer;

extend the date on which royalty will fall due under this section.