§ The Earl of LAUDERDALE
asked Her Majesty's Government:
What economic measures of project worth of an offshore oilfield will be used in judging whether to forgo royalties and when, in such cases, they will be refunded.
§ Lord STRABOLGI
Royalty may be repaid under Section 41(3) of the Petroleum and Submarine Pipelines Act 1975 where it is necessary933WAfor the purpose of facilitating or maintaining the development of the petroleum resources of the United Kingdom".The yardstick for a decision on whether to make a royalty refund will be the balance between the cost of the refund and the benefit to the nation from the project going ahead.