Special Investigating Units and Special Tribunals Act, 1996
R 385
Mineral and Petroleum Resources Royalty Act, 2008 (Act No. 28 of 2008)14. Terms and conditions of fiscal stability agreements |
| (1) | An amendment of section 4 has no force and effect in respect of an extractor that is party to an agreement contemplated in section 13(1) if the amendment has the effect that the extractor becomes subject to a royalty which is greater than the royalty to which the extractor would otherwise have been subject. |
| (2) | If the State fails to comply with the terms of an agreement contemplated in section 13(1) and the failure has a material adverse economic impact on the determination of the royalty payable by the extractor that is party to that agreement, the extractor is entitled to compensation in respect of the increase in the royalty caused by the failure (and interest at the prescribed rate calculated on the compensation from the date of the failure) or to an alternative remedy that eliminates the full impact of the failure. |
