15
In forceRoyalty based on value of mineral other than royalty value
Part 2Royalty payable for mineral
Division 2Rates of royalty
15 Royalty based on value of mineral other than royalty value
(1)
This regulation applies in relation to a mineral referred to in the Table to Schedule 1 Division 3.
(2)
The royalty for the mineral is payable for each quarter for the quantity of the mineral sold during the quarter.
(3)
However, only part of a royalty payable for a mineral under subregulation (2) is payable for a quarter if the purchaser of the mineral pays only part of the price of the mineral in the quarter.
(4)
The part of the royalty payable for the quarter is the amount calculated using the method approved by the Commissioner under regulation 18(1).
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