Crown Minerals (Petroleum Fees) Amendment Regulations 2014
Jerry Mateparae, Governor-General
Order in Council
At Wellington this 8th day of December 2014
His Excellency the Governor-General in Council
Clerk of the Executive Council.
This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 12 December 2014, amend the Crown Minerals (Petroleum Fees) Regulations 2006 (the principal regulations). Principally, the amendments—
introduce a distinction between the annual fees payable under petroleum prospecting permits according to whether they confer exclusive or non-exclusive rights; and
prescribe new annual fees payable under each of those 2 types of permit (the new annual fees).
The amendments also—
adjust the existing fees prescribed in the principal regulations to reflect the increase in goods and services tax from 12.5% to 15% that took effect from 1 October 2010 (previously, section 78(3) of the Goods and Services Tax Act 1985 operated to automatically apply the increase):
update references to the Crown Minerals Act 1991, in light of amendments made to the Act in 2013:
revoke spent transitional provisions that applied in relation to the 2006/07 year:
provide that, for outstanding debts relating to annual fees for petroleum prospecting permits for the 2014/15 year, annual fees are deemed to be paid if the amount that would have been payable under the new annual fees is paid:
provide, in relation to petroleum prospecting permits for the 2014/15 year, for a refund of as much of the annual fees paid as exceeds the amount that would have been payable under the new annual fees.
Date of notification in Gazette: 11 December 2014.
These regulations are administered by the Ministry of Business, Innovation, and Employment.