Section 16
Royalty.
The Offshore Areas Mineral (Development and Regulation) Act, 2002
About this Act
An Act to provide for development and regulation of mineral resources in the territorial waters, continental shelf, exclusive economic zone and other maritime zones of India and to provide for matters connected therewith or incidental thereto.
(1) A lessee shall pay royalty to the Central Government in respect of any mineral
removed or 1[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.
(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.
Notes
1. 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).