PETROLEUM RESOURCE RENT TAX ASSESSMENT ACT 1987

PART V - LIABILITY TO TAXATION  

Division 3 - Deductible expenditure  

SECTION 36B   DESIGNATED FRONTIER AREAS FOR 2005 TO 2009  

36B(1)  


For the purposes of the definition of designated frontier area , the Resources Minister may designate, in writing, up to (and including) 20% of potential exploration permit areas as frontier areas.
Note:

An amount of exploration expenditure incurred in respect of an area that is specified under this section might be increased by 150% (before the amount is further increased under Schedule 1 ): see section 36C .

36B(2)  


The Resources Minister must not specify new areas for a calendar year after 2009.

36B(3)  


The Resources Minister must publish an instrument made under subsection (1) in the Gazette .

36B(4)  


An instrument made under subsection (1) is not a legislative instrument.

36B(5)  


The Resources Minister may, by signed instrument, delegate his or her power under subsection (1) to an SES employee or an acting SES employee in the Resources Department.
Note:

The expressions SES employee and acting SES employee are defined in section 2B of the Acts Interpretation Act 1901 .

36B(6)  


In this section:

potential exploration permit area
means an area or areas constituted by a block or blocks in respect of which applications for exploration permits have been invited, but not yet granted, under Part 2.2 of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 .




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