KHC OnLine Law’s Post

View profile for KHC OnLine Law, graphic

Law Specialist at KHC

Meaning of “royalty” under the context of the Act – Elucidated – Held, essential characteristics of royalty are that (i) it is a consideration or payment made to the proprietor of minerals, either the government or a private person; (ii) it flows from a statutory agreement (a mining lease) between the lessor and the lessee; (iii) it represents a return for the grant of a privilege (to the lessee) of removing or consuming the minerals; and (iv) it is generally determined on the basis of the quantity of the minerals removed 2024 KHC OnLine 6398

  • No alternative text description for this image

To view or add a comment, sign in

Explore topics