1961-HKRS30-8-51_Part02 — Page 43

MINING ORDINANCE, 1954,

(No. 33 of 1954).

Mining (General) (AMENDMENT) Regulations, 1961.

In exercise of the powers conferred by section 68 of the Mining Ordinance, 1954, the Governor in Council has made the following regulations-

1. These regulations may be cited as the Mining (General) Citation, (Amendment) Regulations, 1961.

"Royalty,

2 Regulations 30 and 31 of the Mining (General) Regulations, Revocation 1954, are revoked and replaced by the following-

and replace. meat of 30. (1) When any minerals which have been won regulations

30 and 31. by the holder of any prospecting or mining licence or mîn- [G.N.A ing lease are sold or otherwise disposed of by him or on 124/54). his behalf, there shall become due and payable to the Crown by such bolder a royalty of five per cent of the value of such minerals.

(2) The value of minerals for the purpose of deter- mining the amount of royalty payable in respect thereof shall be their value in the condition in which they were when they were sold or otherwise disposed of by or on behalf of the person by whom they were won, less any deductions made under the provisions of paragraph (3).

(3) In determining the amount of royalty payable in respect of any minerals, the Commissioner may, in respect of any process necessary to put the minerals in the condi tion in which they were when they were sold or otherwise disposed of or in any other respect, make such deductions as he thinks fit from the value of the minerals as deter- mined in accordance with the provisions of paragraph (2).

(4) For the purpose of enabling him to determine the amount of royalty payable in respect of any minerals, the Commissioner may require the licensee or lessee by whom the minerals were won to produce to him such accounts, books, records or documents as he may specify.

(5) (a) Where nay royalty has become due and pay- able to the Crown and for any reason it is not possible immediately to determine with sufficient accuracy the value of the minerals in respect of which such royalty has become so due and pay- able, the Commissioner may require the licensee