Document ID: chunk:federal_register_of_legislation:C2016C00402:section:15
Version: federal_register_of_legislation:C2016C00402
Segment Type: section
Provision Reference: s 15
Character Range: 17262–17910

15  Provisional payment of royalty
 (1) If, in relation to petroleum recovered during a royalty period, the value of the petroleum has not been agreed or determined under section 12, the State Minister may determine a provisional value.
 (2) If:
 (a) a provisional value of any petroleum has been determined under subsection (1); and
 (b) the value of that petroleum has not yet been agreed or determined under section 12;
this Act has effect, in relation to that petroleum, as if:
 (c) the provisional value of the petroleum were its value; and
 (d) the determination of the provisional value were an agreement or determination under section 12.