Explanatory Memorandum
(Circulated by authority of the Minister for Industry, Tourism and Resources, the Hon Ian Macfarlane, MP)Schedule 1 - Repeals
Items 1, 2, 3 and 4 - The whole of the Act
Since the rewriting of the Petroleum (Submerged Lands) Act 1967, Petroleum (Submerged Lands) Fees Act 1994, Petroleum (Submerged Lands) (Registration Fees) Act 1967 and Petroleum (Submerged Lands) (Royalty) Act 1967 is to be done by repealing these Acts and replacing them with rewritten and renamed Acts, these items repeal these four Acts. They are proposed to be replaced by Acts with the titles "Offshore Petroleum Act 2005", "Offshore Petroleum (Annual Fees) Act 2005", "Offshore Petroleum (Registration Fees) Act 2005" and "Offshore Petroleum (Royalty) Act 2005".
One other Act is relevant to this legislation, namely the Offshore Petroleum (Safety Levies) Act 2003 . This Act is not being repealed, as it was quite recently passed and satisfies the same editorial requirements as the four proposed Acts named above. However, it is being amended by a separate Bill, namely the Offshore Petroleum (Safety Levies) Amendment Bill 2005.
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