Western Australian Consolidated Regulations

MINING REGULATIONS 1981 - REG 85AB

85AB .         Conversion to Australian currency

        (1)         In this regulation —

        RBA rate means the daily representative rate used by the Reserve Bank of Australia.

        (2)         Where, for the purposes of determining the amount of royalty payable for a mineral, it is necessary to convert an amount or a price (other than a price to which subregulation (3) applies) to Australian currency, the conversion is to be calculated using the average of the RBA rates for the quarter in which the shipment date for the mineral occurred.

        (3)         Where, for the purposes of the definition of gold spot price in regulation 86AA(11), it is necessary to convert a price to Australian currency, the conversion is to be calculated —

            (a)         using the RBA rate for the day on which the price was fixed; or

            (b)         if there is no RBA rate for that day, using the last RBA rate before that day.

        [Regulation 85AB inserted in Gazette 14 Dec 2001 p. 6404‑5; amended in Gazette 13 Dec 2002 p. 5803‑4.]