Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The size of an HCFC quota allocated to a licensee for a quota period is to be worked out using the formula:
where:
"ALA" (amount of licensee's activities) means the sum of the quantities of HCFCs, expressed in ODP tonnes, involved in regulated HCFC activities carried out under the licence during the base year by:
(a) the licensee; or
(b) if the licence was transferred to the licensee--the licensee and the transferor.
"AIA" (amount of industry activities) means the sum of the quantities of HCFCs, expressed in ODP tonnes, involved in regulated HCFC activities carried out by all licensees during the base year.
"IL" (industry limit) means the sum of the HCFC industry limits for each year of the quota period.
(2) In this section:
"base year" means:
(a) in relation to an allocation for the first HCFC quota period--the base year specified in the notice under section 26; and
(b) in relation to an allocation for any other HCFC quota period--the penultimate calendar year before the start of that quota period.