Crown Minerals (Royalties for Minerals Other than Petroleum) Regulations 2013

Version as at 1 September 2022

Coat of Arms of New Zealand

Crown Minerals (Royalties for Minerals Other than Petroleum) Regulations 2013

(SR 2013/206)

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 20th day of May 2013

Present:
His Excellency the Governor-General in Council

Note

The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.

Note 4 at the end of this version provides a list of the amendments included in it.

These regulations are administered by the Ministry of Business, Innovation, and Employment.

Pursuant to sections 105 and 105A of the Crown Minerals Act 1991, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council and on the recommendation of the Minister of Energy and Resources, makes the following regulations.

Contents

1Title
2Commencement
Part 1
Preliminary provisions
3Application
3AProvisions affecting application of amendments to these regulations
4Interpretation
5Meaning of development costs
6Meaning of exploration costs
7Meaning of production costs
8Meaning of restoration costs
9Meaning of related parties
10GAAP accounting procedures to be used
11Form of provision of document if not prescribed
Part 2
Royalties for minerals
Subpart 1—When royalties payable and rates of royalties
12Permit holder must pay royalties
13Royalty payable for Tier 1 permits
14Royalty payable for Tier 2 permits
15Royalty rate for minerals specified in Schedule 2
Subpart 2—How to calculate net sales revenues, gross sales revenues, accounting profits, and allowable APR deductions
16Net sales revenues
17Gross sales revenues
18Netbacks and net forwards
19Point of valuation
20Calculation of accounting profits
21Calculation of capital proceeds
22Allowable deductions for exploration costs
23Allowable deductions for depreciation
24Allowable deductions for pre-production costs (for permits other than those preceded by mining licence)
25Allowable deductions for pre-production costs (for permits preceded by existing privilege)
26Allowable deductions for restoration costs
27Allowable deductions for operating losses carried forward
28Allowable deductions for unclaimed restoration costs
29Calculation of final accounting profits
30Items not calculated according to arm’s length contract
31Deductions allowed only once
32Arm’s length value
33Allocation of common costs and revenues where Crown owned and privately owned minerals extracted
34Allocation of common costs and revenues where permits worked together as single project
35Allowable APR deductions if transfer of participating interest
36Calculations must be exclusive of GST
Part 3
Royalty returns, payments, and refunds
37Reporting period
38Royalty returns: categories of, and when and how required
39Interim royalty return: contents
40Annual royalty return: contents
41Final royalty return: contents
42Royalty returns where permit holder 2 or more permit participants
43Accountant or auditor statement
44Payment and refund of royalties
45Accounts and records
46Transitional provision
47Application, savings, and transitional provisions relating to amendments made to these regulations after 1 January 2014
Schedule 1
Application, savings, and transitional provisions relating to amendments made to these regulations after 1 January 2014
Schedule 2
Royalty payable for certain Tier 2 permits
Gazette Information
Notes