(1)  The holder of a mineral tenement required to pay royalty who has sold minerals during a quarter is to submit a royalty return to the Director within 30 days after the end of that quarter.

(2)  A royalty return is to –

(a) be in a form approved by the Minister; and

(b) contain any details, calculations or information the Minister determines are appropriate.

(3)  An approval under subregulation (2)(a) and a determination under subregulation (2)(b) may be made generally or for the purpose of a particular case.

(4)  If a mineral not specified in Schedule 1 is sold at a price less than the market price, the Minister may determine the amount of yearly profit in respect of that mineral up to an amount not exceeding the amount of yearly profit that would have been likely if the mineral had been sold at the market price.