Document ID: chunk:federal_register_of_legislation:C2011A00112:clause:2_695m
Version: federal_register_of_legislation:C2011A00112
Segment Type: clause
Provision Reference: sch 2 cl 695M
Character Range: 134867–136874

695M  Annual titles administration levy

Scope
 (1) This section applies in relation to annual titles administration levy imposed by the Regulatory Levies Act in relation to a year of the term of:
 (a) a work‑bid petroleum exploration permit; or
 (b) a special petroleum exploration permit; or
 (c) a petroleum retention lease; or
 (d) a petroleum production licence; or
 (e) an infrastructure licence; or
 (f) a pipeline licence; or
 (g) a work‑bid greenhouse gas assessment permit; or
 (h) a greenhouse gas holding lease; or
 (i) a greenhouse gas injection licence.

When annual titles administration levy becomes due and payable
 (2) The levy for the first year of the term of the permit, lease or licence is due and payable at the end of 30 days after the day on which the term begins.
 (3) The levy for a later year of the term of the permit, lease or licence is due and payable at the end of 30 days after the anniversary of the day on which the first year of the term begins.

Late payment penalty
 (4) If annual titles administration 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.
 (5) The late payment penalty is calculated at the rate of 0.333333% per day on the amount of the annual titles administration levy remaining unpaid.
 (6) The Titles Administrator may remit the whole or a part of an amount of late payment penalty if the Titles Administrator considers that there are good reasons for doing so.

Recovery of annual titles administration levy and late payment penalty
 (7) Each amount of annual titles administration levy, and each amount of late payment penalty payable in respect of titles administration levy:
 (a) is a debt due to the Titles Administrator on behalf of the Commonwealth; and
 (b) is recoverable by the Titles Administrator, on behalf of the Commonwealth, in a court of competent jurisdiction.

Division 5—Miscellaneous