1964_PEARL_CULTURE_(CONTROL)_REGULATIONS — Page 4

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[Subsidiary]

Payment of royalty.

Record and accounts.

Half-yearly returns.

CAP. 307]

Pearl Culture (Control) Regulations

[1981 Ed.

(3) Subject to the right of appeal conferred by paragraph (2), it shall be an offence to fail to comply with any requirement lawfully made under paragraph (1) or any requirement which may have been confirmed or substituted therefor on appeal under paragraph (2): Penalty: a fine of $100 in respect of each day during which such failure continues.

9. The royalty referred to in regulation 6 shall be paid within 14 days of the dispatch to the licensee of the notice of ascertainment of the net profits:

Provided that if the net profits have not been ascertained within 6 months of the end of the twelve-monthly period for which the royalty is due a provisional royalty equal to 5 per cent of the licensee's gross sales shall be payable forthwith. As soon as the net profit has been ascertained a final adjustment shall be made and the Government shall refund any sum paid by way of provisional royalty in excess of the royalty due for that twelve-monthly period, or if the amounts paid by way of provisional royalty by the licensee are less than the royalty due, the licensee shall pay to the Government the balance thereof.

10. Every licensee shall keep in relation to the culture of pearls carried on by him-

(a) accurate and regular accounts of all sales by or on his behalf of cultured pearls; and

(b) an accurate record of-

(i) the total number of live pearl oysters collected, purchased or acquired, otherwise than by cultivation;

(ii) the total number of pearl oysters under cultivation from time to time;

(iii) the total number of pearl oysters embedded from time to time and the dates upon which embedding was effected;

(iv) the total number of pearl oysters harvested from time to time and the dates upon which harvesting was effected; and

(v) the total number of pearls extracted from pearl oysters so harvested.

11. It shall be the duty of every licensee to render to the Director not later than 31 January and 31 July in each year a half-yearly situation report showing-

(a) a statement of account of sales of cultured pearls during the preceding half year, that is to say, the half year ending on 31 December or 30 June, as the case may be;

(b) the total number of live pearl oysters collected, purchased or acquired, otherwise than by cultivation during the preceding half year;