RIGHT OF LANDOWNERS TO FAIR SHARE OF ROYALTIES FOR EXTRACTION OF - TopicsExpress

RIGHT OF LANDOWNERS TO FAIR SHARE OF ROYALTIES FOR EXTRACTION OF MINERALS: 30.—(1) All minerals in or under any land or water, are owned by the State, provided however, that the owners of any particular land (whether customary or freehold), or of any particular registered customary fishing rights shall be entitled to receive a fair share of royalties or other money paid to the State in respect of the grant by the State of rights to extract minerals from that land or the seabed in the area of those fishing rights. (2) A written law may determine the framework for calculating fair shares under subsection (1), taking into account all relevant factors, including the following— (a) any benefits that the owners received or may receive as a result of mineral exploration or exploitation; (b) the risk of environmental damage; (c) any legal obligation of the State to contribute to a fund to meet the cost of preventing, repairing or compensating for any environmental damage; (d) the cost to the State of administering exploration or exploitation rights;

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