DEFAULT ASSESSMENT. If β (a) the Lessee makes default in delivering a statement referred to in subclause 2(5) or (b) the Lessee makes default by not keeping proper books of account referred to in subclause 2(10); or (c) the Minister is not satisfied that a statement delivered by the Lessee is a full and accurate statement; the Minister shall promptly make an assessment consistent with the provisions of this lease of the amount of accumulated nett value of a petroleum commodity sold or removed without sale from the production unit in respect of which, in his opinion, royalty ought to be levied, and that accumulated nett value shall be the accumulated nett value in respect of which royalty shall be payable.
Appears in 20 contracts
Samples: Barrow Island Royalty Variation Agreement, Barrow Island Royalty Variation Agreement, Barrow Island Royalty Variation Agreement
