or lessee by whom such minerals were won pay to the Crown, by way of provisional paymen of such royalty, such reasonable sum as he thinks fit having regard to the likely value of sul minerals.
(6) If. when the value of such minerals has been dul determined, the sum paid in accordance with i requirement of the Commissioner under the pre- visions of sub-paragraph (a) exceeds the am of royalty actually due and payable in respect of | such minerals, the Commissioner shall forthwi refund to the licensee or lessee the amount by which such sum exceeds the amount of royalty so due and payable, and the balance of such sum shall be regarded as having been paid in paym of such royalty.
(c) Save as provided in sub-paragraph (6), the sum so paid shall, when the value of such minera has been duly determined, be regarded as having been paid in payment or part payment, according to the value of the minerals when so determissi of the royalty so due and payable.
(6) For the purposes of this regulation, the expression "Commissioner" includes the Superintendent.”.
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of the revised regulation 30) and. In order to provide the flexibility which is bessary to meet the diverse types of mining carried on in the Colony and the diverse circumstances in which mining is carried on, the Conamissioner of Mine is empowered to make such deductions as he thinks fit from the value to determined before charging royalty (see paragraph (3) of the revised regula- tion 30). The revised provisions as to the value of minerals, coupled with the power to make deductions from that value before royalty is charged, will provide a more equitable basis for the payment of royalty.
4. In some cases, it is not practicable to make an accurate assessment of the value of minerals for some time after they have been won. In such cases, it is desirable that the Commissioner of Mines should be entitled to require a payment on account of the royalty which is due. Paragraph (5) of the revised regulation 30 makes the necessary provisions.
(Secretariat GR2/4961/60)
COUNCIL CHAMBER,
25th April, 1961.
Clerk of Councils
Explanatory Note.
(This Note is not part of the regulations, but is intended to indicate their general purport).
These regulations amend the Mining (General) Regulations, 1954 * as to make new provisions for assessing the value of minerals for the porpos of determining the amount of royalty payable in respect thereof.
2 The present provisions are particularly unsatisfactory in relation exported minerals in that royalty has to be calculated on the contract price of any shipment of minerals, whether the contract is on a C.L.F. or an F basis. This can result in unequal treatment as between one exporter and anothe In addition, expenditure is also incurred by licensees and lessees in such cont as local transport, bagging, sealing and sworn measurers' fees, and it is sidered unreasonable thini royalty should be paid on a value which include these items.
3. The revised provisions provide that the value of minerals for the purpose of determining the amount of royalty payable in respect thereof sh be their value in the condition in which they were when sold (see paragraph (~