Western Australian Consolidated Regulations

MINING REGULATIONS 1981 - REG 87

87 .         Minister may determine value of mineral for the purpose of calculating royalties

        (1)         Where a royalty has been paid under regulation 86 or 86AA and the Minister is of the opinion that the royalty value on which the royalty was based was not a true or fair value on which to calculate the royalty because —

            (a)         the royalty value does not reflect the market value of the mineral at the date the mineral was first sold; or

            (b)         the allowable deductions used to calculate the royalty value are excessive having regard to the type of sale; or

            (c)         the holder of, or applicant for, the mining tenement has not shown to the satisfaction of the Minister, within the time specified by the Minister, that the first sale of the mineral was a genuine commercial transaction and was not principally for the purpose of minimising the royalty payable,

                the Minister shall determine the value of the mineral having regard to the market value for that type of mineral assessed at an arm’s length basis, at the date the mineral was first sold, for the type of sale concerned.

        (2)         Where a value is determined by the Minister under subregulation (1), the royalty shall be assessed at the relevant rate under regulation 86 or 86AA as if that value was the royalty value.

        [Regulation 87 inserted in Gazette 20 May 1988 p. 1706; amended in Gazette 3 Oct 1997 p. 5533; 14 Dec 2001 p. 6407; 13 Dec 2002 p. 5805.]