The RoK Law No. 61-V “On Introduction of Amendments into Certain Legislative Acts on Matters Concerning Subsurface Use” dated 26th December 2012 (hereinafter – the “Law”) introduced amendments into the RoK Law No. 291-IV “On Subsurface and Subsurface Use” dated 24 June 2010, that will enter into force on 1 January 2014.
In particular, an extended meaning of “subscription bonus” will be introduced. According to this meaning, subsurface users will also be charged with a subscription bonus when expending territory.
The Law introduced amendments into paragraph 6 of Article 111 of the Law “On Subsurface and Subsurface Use”, according to which the amount of charges, which are paid into an abandonment fund on contracts for subsurface use concluded and not terminated before 1 January 2009, subject to placement on a special deposit account, is reduced by an amount used by a subsurface user at the expenses of an amount of the abandonment fund created to perform recovery work connected with production of deposits approved by an authorized body on exploration and use if subsoil.