Section 3: Levy of Development Surcharge

3. Levy of Development Surcharge.__ Every company shall 1[collect and] pay to the 2[Federal Government] a development surcharge equal to the differential margin in respect of natural gas sold by it after thirty­first day of May, 1964. (2) The development surcharge in respect of natural gas sold before the commencement of this Ordinance shall be paid within such time after such commencement as may be specified by the 2[Federal Government] or any officer authorised by it in this behalf. (3) 3[An amount at the rate of 4[fifteen] per cent per annum shall be payable in addition to the] amount due under sub­section (1) or under sub­section (2), if the amount is not paid within the time specified for such payment [:]5 5[Provided that the Federal Government may, subject to such conditions or restrictions as it may think fit to impose, by notification in the official Gazette, grant only 6[two time] exemption to any company from the requirement to pay additional amount payable under this sub­section, and a notification issued under this proviso shall be effective from the date specified therein notwithstanding the date of its issue in the official Gazette [:]6 6[Provided further that exemption given to any company under the foregoing proviso shall always be supported by reasons justifying such exemption issued with the approval of the Secretary and Minister for Petroleum and Natural Resources Division.]

Effective date: 1967-01-01

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