Petroleum Authority of Brunei Darussalam Act · s 21

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21.
Petroleum Authority of Brunei Darussalam Fund
(1) For the purposes of this Act, there is established a h n d  to be known as the Petroleum Authority of Brunei Darussalam Fund into which shall be paid -
(a) such moneys as may be allocated from the Consolidated
Fund;
(b) such other moneys or assets as may accrue to or vest in the
Authority in the exercise of its powers or the performance of its functions under this Act;
(c) any revenue generated from any proprietary interest held by the Authority whether movable or immovable, and from the prescription of levies and fees in accordance with the provisions of this
Act and the regulations made thereunder;
(d) research and development contributions, assistance and other annual fees, and penalties from contractors, under a petroleum mining
Agreement;
(e) revenues generated from the imposition of licences or permits on matters under the regulatory purview of this Act. including

Petroleum Authority o f  Brunei Darussalam
CAP. 231 31
•
for operations conducted pursuant to any petroleum milling Agreement and the operation of any plant;
(J)
all commercial income generated by the Authority; and
(gj all such other sums as may be paid to the Authority.
(2) The Minister may, with the approval of His Majesty the Sultan and Yang Di-Pertuan. make regulations to provide for levies prescribing the -
(a) amount payable per cubic metre of crude oil, the amount payable per one thousand cubic metre of marketable natural gas, when the relevant levy may be applied and any other requirements for implementation of the levy; and
(b) amount payable based on produced volume of petroleum products.

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s 21Petroleum Authority of Brunei Darussalam Fund

(1)

For the purposes of this Act, there is established a h n d to be known as the Petroleum Authority of Brunei Darussalam Fund into which shall be paid -

(a)

such moneys as may be allocated from the Consolidated

Fund;

(b)

such other moneys or assets as may accrue to or vest in the

Authority in the exercise of its powers or the performance of its functions under this Act;

(c)

any revenue generated from any proprietary interest held by the Authority whether movable or immovable, and from the prescription of levies and fees in accordance with the provisions of this

Act and the regulations made thereunder;

(d)

research and development contributions, assistance and other annual fees, and penalties from contractors, under a petroleum mining

Agreement;

(e)

revenues generated from the imposition of licences or permits on matters under the regulatory purview of this Act. including

Petroleum Authority o f Brunei Darussalam

CAP. 231 31

•

for operations conducted pursuant to any petroleum milling Agreement and the operation of any plant;

(J)

all commercial income generated by the Authority; and

(gj all such other sums as may be paid to the Authority.

(2)

The Minister may, with the approval of His Majesty the Sultan and Yang Di-Pertuan. make regulations to provide for levies prescribing the -

(a)

amount payable per cubic metre of crude oil, the amount payable per one thousand cubic metre of marketable natural gas, when the relevant levy may be applied and any other requirements for implementation of the levy; and

(b)

amount payable based on produced volume of petroleum products.