Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to this section, there is also to be paid to the industry research body out of the Consolidated Revenue Fund, which is appropriated accordingly, amounts equal to one - half of:
(a) the amounts from time to time paid by the industry research body under paragraphs 67(2)(b) and (c); and
(b) the amounts from time to time paid by the industry research body for industry research and development purposes approved in writing by the Minister, being amounts so paid from amounts received by that body from approved donors for industry research and development purposes.
(2) The sum of the amounts paid to the industry research body under subsection ( 1) must not be greater than the sum of:
(a) the amounts paid to the industry research body under subsections 64(1A) and (1), other than amounts related to amounts received by the Commonwealth by way of penalty; and
(b) the amounts paid to the industry research body by approved donors for industry research and development purposes.
(3) The payments made under subsection ( 1) to the industry research body during a particular financial year are subject to the condition that, if:
(a) before the end of 31 October next following the financial year, the Secretary determines the amount of the gross value of production of the industry for the financial year; and
(b) as at the end of 31 October next following the financial year, the sum of the amounts that were paid to the industry research body under subsection ( 1) during the financial year exceeds 0.5% of the amount of the gross value of production of the industry for the financial year as determined by the Secretary;
the industry research body will pay to the Commonwealth an amount equal to the excess.
Note: This ensures that the sum of the amounts that are retained by the industry research body in relation to the financial year does not exceed 0.5% of the amount of the gross value of production of the industry for the financial year as determined by the Secretary.
(3A) If:
(a) before the end of 31 October next following a financial year, the Secretary has not determined under subsection ( 3) the amount of the gross value of production of the industry for the financial year; and
(b) the Secretary has determined under subsection ( 3) the amount of the gross value of production of the industry for the previous financial year;
the Secretary is taken to have made, immediately before the end of that 31 October, a determination under subsection ( 3) that the amount of the gross value of production of the industry for the financial year is equal to the amount of the gross value of production of the industry determined under subsection ( 3) for the previous financial year.
(3B) An amount payable under subsection ( 3) by the industry research body:
(a) is a debt due to the Commonwealth; and
(b) may be recovered by the Minister, on behalf of the Commonwealth, by action in a court of competent jurisdiction.
(3C) A determination made under subsection ( 3) is not a legislative instrument.
(4) The regulations may provide for the way in which the Secretary is to determine the amount of the gross value of production of the industry for a financial year.
(5) If:
(a) an amount (the first amount ) is payable by the industry research body under subsection ( 3); and
(b) another amount (the second amount ) is payable by the Commonwealth to the industry research body under subsection ( 1);
the Minister may, on behalf of the Commonwealth, set off the whole or a part of the first amount against the whole or a part of the second amount.