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OC 321/2017 - The Subsurface Mineral (Audit Assessments) Amendment Regulations, 2017 (Minister of Energy and Resources)
Description:

Title: The Subsurface Mineral (Audit Assessments) Amendment Regulations, 2017

Minister: Minister of Energy and Resources

Summary: (1) Subject to subsection (2), these regulations come into force on the day on which section 1 of The Miscellaneous Statutes (Economy – Audit Assessments) Amendment Act, 2017 comes into force.

(2) If these regulations are filed with the Registrar of Regulations after the day on which section 1 of The Miscellaneous Statutes (Economy – Audit Assessments) Amendment Act, 2017 comes into force, these regulations come into force on the day on which they are filed with the Registrar of Regulations.

These regulations will amend SR 541/67 to:

  • establish a ten percent penalty from audit findings on mineral producers; and
  • calculate interest of prime plus three percent from audit findings on mineral producers.

  • See: The Crown Minerals Act, section 22





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