Offshore Minerals (Exploration Licence Fees) Act 1981

The Offshore Minerals (Exploration Licence Fees) Act 1981 provides for the payment of fees in respect of exploration licences under the Offshore Minerals Act 1994. The Act outlines the following key provisions:

1. Short Title and Commencement: The Act is titled the Offshore Minerals (Exploration Licence Fees) Act 1981 and came into operation on the day the Minerals (Submerged Lands) Act 1981 came into operation.
2. Interpretation: The Act defines key terms, including "year" in relation to the term of an exploration licence.
3. Exploration Licence Fees: An exploration licence holder must pay a fee to the Designated Authority for each year of the term of the licence. The fee is to be calculated in accordance with the regulations.
4. Penalty for Late Payment: A penalty is payable where the liability to pay a fee is not discharged at or before the time when the fee is payable.
5. Fees and Penalties Debts: Fees and penalties debts are debts due by the licence holder to the Commonwealth and are recoverable in a court of competent jurisdiction.

The Act also provides for regulations to be made prescribing matters required or permitted by the Act to be prescribed. There are also notes and a table of amendments providing additional information on the history and updates to the Act.