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Explanatory Memorandum for the Mineral and Petroleum Resources Royalty Bill (Deadline: October 17, 2008)

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The Mineral and Petroleum Resources Royalty Bill gives effect to section 3(2)(b) of the Mineral and Petroleum Resources Development Act, Act No. 28 of 2002 (the MPRDA).  The relevant section of the MPRDA reads: As the custodian of the nation’s mineral and petroleum resources, the State, acting through the Minister may:  in consultation with the Minister of Finance, determine and levy, any fee or consideration payable in terms of any relevant Act of Parliament.

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