Document ID: chunk:federal_register_of_legislation:C2024C00818:section:5:p4
Version: federal_register_of_legislation:C2024C00818
Segment Type: section
Provision Reference: s 5 (pt 4/4)
Character Range: 57599–58506

this subsection, the amount of the exploration expenditure mentioned in paragraph (d) of this subsection is taken to be the amount worked out using the following formula:

where:
number of retention leases relating to the petroleum project mentioned in paragraph (a) of this subsection means the number of retention leases:
 (a) from which the production licence, or the production licences, in relation to the petroleum project mentioned in paragraph (a) of this subsection were derived; and
 (b) that are included in the set mentioned in paragraph (b) of this subsection.
total number of retention leases means the number of retention leases that are included in the set mentioned in paragraph (b) of this subsection.
unadjusted amount of exploration expenditure means the amount that, apart from this subsection, is the amount of the exploration expenditure mentioned in paragraph (d) of this subsection.