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Offshore Petroleum and Greenhouse Gas Storage Regulatory Levies (Consequential Amendments) Bill 2011

Schedule 1 Amendments

   

Offshore Petroleum and Greenhouse Gas Storage Act 2006

1  Section 643

Insert:

Regulatory Levies Act means the Offshore Petroleum and Greenhouse Gas Storage (Regulatory Levies) Act 2003 .

2  Section 643 (definition of Safety Levies Act )

Repeal the definition.

3  Subparagraphs 683(b)(i) and (c)(i)

Omit “Safety Levies Act”, substitute “Regulatory Levies Act”.

4  After paragraph 683(c)

Insert:

                     (d)  amounts equal to the following amounts paid to the Safety Authority on behalf of the Commonwealth:

                              (i)  amounts paid by way of well investigation levy imposed by the Regulatory Levies Act;

                             (ii)  amounts paid by way of late payment penalty under subsection 688(2);

                   (da)  amounts equal to the following amounts paid to the Safety Authority on behalf of the Commonwealth:

                              (i)  amounts paid by way of annual well levy imposed by the Regulatory Levies Act;

                             (ii)  amounts paid by way of late payment penalty under subsection 688A(2);

                   (db)  amounts equal to the following amounts paid to the Safety Authority on behalf of the Commonwealth:

                              (i)  amounts paid by way of well activity levy imposed by the Regulatory Levies Act;

                             (ii)  amounts paid by way of late payment penalty under subsection 688B(2);

5  Sections 686 and 687

Omit “Safety Levies Act” (wherever occurring), substitute “Regulatory Levies Act”.

6  After section 687

Insert:

688   Well investigation levy

When well investigation levy becomes due and payable

             (1)  Well investigation levy imposed by the Regulatory Levies Act becomes due and payable at the time specified in, or worked out in accordance with, the regulations.

Late payment penalty

             (2)  If well investigation levy payable by a person under the Regulatory Levies Act remains wholly or partly unpaid after it becomes due and payable, the person is liable to pay a late payment penalty under this section.

             (3)  The late payment penalty is calculated at the rate of 0.333333% per day on the amount of the well investigation levy remaining unpaid.

             (4)  The Safety Authority may remit the whole or a part of an amount of late payment penalty if the Safety Authority considers that there are good reasons for doing so.

Recovery of well investigation levy and late payment penalty

             (5)  Each amount of well investigation levy, and each amount of late payment penalty payable in respect of well investigation levy:

                     (a)  is a debt due to the Safety Authority on behalf of the Commonwealth; and

                     (b)  is recoverable by the Safety Authority, on behalf of the Commonwealth, in a court of competent jurisdiction.

688A   Annual well levy

When annual well levy becomes due and payable

             (1)  Annual well levy imposed by the Regulatory Levies Act becomes due and payable at the time specified in, or worked out in accordance with, the regulations.

Late payment penalty

             (2)  If annual well levy payable by a person under the Regulatory Levies Act remains wholly or partly unpaid after it becomes due and payable, the person is liable to pay a late payment penalty under this section.

             (3)  The late payment penalty is calculated at the rate of 0.333333% per day on the amount of the annual well levy remaining unpaid.

             (4)  The Safety Authority may remit the whole or a part of an amount of late payment penalty if the Safety Authority considers that there are good reasons for doing so.

Recovery of annual well levy and late payment penalty

             (5)  Each amount of annual well levy, and each amount of late payment penalty payable in respect of annual well levy:

                     (a)  is a debt due to the Safety Authority on behalf of the Commonwealth; and

                     (b)  is recoverable by the Safety Authority, on behalf of the Commonwealth, in a court of competent jurisdiction.

688B   Well activity levy

When well activity levy becomes due and payable

             (1)  Well activity levy imposed by the Regulatory Levies Act becomes due and payable at the time specified in, or worked out in accordance with, the regulations.

Late payment penalty

             (2)  If well activity levy payable by a person under the Regulatory Levies Act remains wholly or partly unpaid after it becomes due and payable, the person is liable to pay a late payment penalty under this section.

             (3)  The late payment penalty is calculated at the rate of 0.333333% per day on the amount of the well activity levy remaining unpaid.

             (4)  The Safety Authority may remit the whole or a part of an amount of late payment penalty if the Safety Authority considers that there are good reasons for doing so.

Recovery of well activity levy and late payment penalty

             (5)  Each amount of well activity levy, and each amount of late payment penalty payable in respect of well activity levy:

                     (a)  is a debt due to the Safety Authority on behalf of the Commonwealth; and

                     (b)  is recoverable by the Safety Authority, on behalf of the Commonwealth, in a court of competent jurisdiction.