Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Minister may, by instrument in writing, formulate a scheme for calling, and dealing with, tenders for the right to enter for home consumption during a period, or each of a number of periods, a determined quantity of particular goods, or particular goods of a determined value, at concessional rates of duty.
(2) A call for tenders that relates to determined quantities of particular goods shall include a statement that, for the purposes of the application of the Customs Undertakings (Penalties) Act 1981 and the Customs Securities (Penalties) Act 1981 in relation to the particular goods the subject of the call, the value of the goods is to be calculated by reference to a value set out in the statement as the value of an appropriate unit of the goods.
(3) In determining the value of an appropriate unit of particular goods to be set out in a statement referred to in subsection (2), the Minister shall have regard to the average value of the corresponding unit in relation to goods of the same kind that were imported into Australia and entered for home consumption during the financial year that ended on the 30 June immediately preceding the date on which the call for tenders is made.
(4) A call for tenders shall include a statement that, for the purposes of the application of the Customs Undertakings (Penalties) Act 1981 and the Customs Securities (Penalties) Act 1981 in relation to the particular goods the subject of the call, the prescribed percentage of the value of the goods is to be the percentage set out in the statement.