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PETROLEUM (PRODUCTION) ACT (NORTHERN IRELAND) 1964 - SECT 5

Form and amount of compensation.

5.(1) Compensation shall be in the form of a share of the royalties relating
to a particular petroleum well.

(2) The total amount of compensation payable in relation to any petroleum well
within the area specified in a licence granted under section 2 shall be such
proportion of [the net proceeds (after deducting so much of the costs and
expenses, which may include administrative expenses, of the Ministry as are
certified by the Ministry to be attributable or apportionable to such well)]
of the royalties reserved by the said licence in relation to such well, as
the compensation area of that well bears to the appointed area thereof [; and
a certificate of the Ministry under this subsection shall be prima facie
evidence of the matters stated therein].

(3) The total amount of compensation payable in relation to any petroleum well
sunk by or on behalf of the Ministry shall be such proportion of [the net
proceeds (after deducting so much of the costs and expenses, which may include
administrative expenses, of the Ministry as are certified by the Ministry to
be attributable or apportionable to such well)] of the royalties which would
have been payable if that well had been within the area specified in a licence
granted under section 2 as the compensation area of the well bears to
the appointed area thereof [; and a certificate of the Ministry under this
subsection shall be prima facie evidence of the matters stated therein].

© 1964 Crown Copyright

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