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Section 16: Royalty.

The Offshore Areas Mineral (Development and Regulation) Act, 2002Central Act · Act 17 of 2003

(1) A lessee shall pay royalty to the Central Government in respect of any mineral removed or [consumed from the area covered under his 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.

Where this provision sits

ActThe Offshore Areas Mineral (Development and Regulation) Act, 2002
Section16
Marginal noteRoyalty.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted, Act 17 of 2023. . Subs. by Act 17 of 2023, s. 13, for "consumed by him from the area covered under the production" (w.e.f. 17-8-2023).

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