Part‑payment of royalty

In force

(1)

The Commissioner may approve a method for calculating the amount of a part‑payment of a royalty for a mineral.

(2)

The amount of a part‑payment of a royalty for a mineral may be adjusted if the Commissioner is satisfied, based on information given by the royalty payer, that the amount of the part‑payment is incorrect because of —

(a)

a miscalculation of the gross invoice value or an allowable deduction in relation to the sale of the mineral; or

(b)

in the case of iron ore — a miscalculation of a shipping cost for the mineral; or

(c)

any other reason.

(3)

The adjustment may be taken into account the next time the royalty payer pays a royalty for the mineral.

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18 Part‑payment of royalty