Frontier Lands Petroleum Royalty Regulations

5 (1) The royalty payable, in respect of a month, is payable in the following two installments:

• (a) the first installment is due on the last day of the following month and is equal to the royalty payable under section 3 for the previous month; and

• (b) the second installment is due on the last day of the second following month and is equal to the difference between the amount payable under section 3 for the month and the first installment.

(2) If the amount calculated under paragraph (1)(b) is negative,

• (a) no second installment is due for that month; and

• (b) the amount, as a positive value, is included in the first installment for the following month.