LawgistThe Offshore Areas Mineral (Development and Regulation) Act
16Royalty
(1) A lessee shall pay royalty to the Central Government in respect of any mineral removed or consumed by him from the area covered under the production lease, at the rate for the time being specified in the First Schedule in respect of that mineral.
(2) The Central Government may, by notification in the Official Gazette, amend the First Schedule so as to enhance or reduce the rate at which royalty shall be payable in respect of any mineral with effect from such date as may be specified in the notification:
Provided that the Central Government shall not enhance the rate of royalty in respect of any mineral more than once during any period of three years.
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GENERAL PROVISIONS FOR ACQUISITION OF OPERATING RIGHTS IN THE OFFSHORE AREAS
- 5 Reconnaissance, exploration or production to be under permit, licence or lease
- 6 Grant of operating right
- 7 Termination of operating right
- 8 Reservation of areas
- 9 Power of close areas
- 10 Availability of areas for grant of permit, licence or lease
- 11 Grant of reconnaissance permit
- 12 Grant of exploration licence
- 13 Grant of production lease
- 14 Period of commencement of operating rights
- 15 Power of Central Government to authorise survey, research and scientific investigations in areas covered under operating rights
- 16 Royalty
- 17 Fixed rent
- 18 Contribution towards International Seabed Authority
- 19 Safety of persons and property
- 20 Prevention and control of pollution and protection of marine environment
- 21 Power of Central Government and administering authority to issue directions
