Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1A) In this section:
(a) a reference to a levy does not include a reference to a levy on a separately levied fishery; and
(b) a reference to an amount spent or required to be spent by an R&D Corporation under section 33 does not include a reference to an amount spent or required to be spent in relation to:
(i) a separately levied fishery; or
(ii) marketing activities; and
(c) a reference to the fishing industry does not include a reference to a separately levied fishery; and
(d) a reference to an amount spent or required to be spent by an R&D Corporation under section 33 does not include a reference to an amount spent or required to be spent in relation to marketing activities.
Levy payments
(1) There are to be paid to an R&D Corporation established in respect of the fishing industry amounts equal to:
(a) where a levy is attached to the Corporation--the amounts from time to time received by the Commonwealth, under the Collection Act, as:
(i) the research component of that levy; and
(ii) amounts (if any) paid, on behalf of a person liable to pay that levy, by another person, in respect of the research component of that levy; and
(iii) amounts of penalty for non - payment of that levy, to the extent that the penalty is attributable to the non - payment of the research component of that levy; and
(iv) the marketing component of that levy; and
(b) amounts worked out under subsection (2).
Matching payments
(2) The amounts to be paid to the Corporation under paragraph(1)(b), during a particular financial year, are as follows:
(a) an amount equal to 0.5% of interim total GVP for that year or, if the amount spent or required to be spent by the Corporation under section 33 (other than paragraph 33(1)(d)) for that financial year is less than 0.5% of that interim total GVP, an amount equal to that lesser amount;
(b) where the amount so spent or required to be spent by the Corporation for that financial year is more than 0.5% of interim total GVP for that year:
(i) if that amount is not less than 1% of that interim total GVP--an amount equal to 0.25% of interim Commonwealth GVP for that year; or
(ii) if that amount is more than 0.5%, but less than 1%, of that interim total GVP--half of the amount equal to the percentage of interim Commonwealth GVP for that year by which the amount so spent or required to be spent was more than 0.5% of that interim total GVP;
reduced, unless the regulations provide otherwise, by the amount (if any) by which the amount worked out under subparagraph (i) or (ii) (as the case may be) exceeds the total of the amounts paid to the Corporation during the year under subparagraphs (1)(a)(i) and (ii) (less the sum of any refunds in relation to levies attached to the Corporation);
(c) where the amount so spent or required to be spent by the Corporation for that financial year is more than 0.5% of interim total GVP for that year and a State or Territory has made a payment to the Corporation or to the Commonwealth in respect of research and development in respect of the fishing industry:
(i) if the amount so required to be spent by the Corporation is not less than 1% of that interim total GVP--an amount equal to 0.25% of that interim State or Territory GVP for that year; or
(ii) if that amount is more than 0.5%, but less than 1%, of that interim total GVP--half of the amount equal to the percentage of that interim State or Territory GVP for that year by which the amount so spent or required to be spent was more than 0.5% of that interim total GVP;
reduced by the amount (if any) by which the amount worked out under subparagraph (i) or (ii) (as the case may be) exceeds the amount of the payment made by the State or Territory to the Corporation or to the Commonwealth in respect of research and development in respect of the fishing industry;
(d) other amounts of matching payments specified in the regulations, so along as the total of the amounts paid to the Corporation under paragraph (1)(b) in the financial year do not exceed 0.75% of interim total GVP for that year.
(2B) If:
(a) an amount is paid to the Corporation under paragraph (1)(b) in a financial year; and
(b) the amount was calculated, in whole or in part, under subsection (2) on the basis of:
(i) interim Commonwealth GVP for the financial year; or
(ii) interim State or Territory GVP for the financial year for a State or Territory; or
(iii) interim total GVP for the financial year; and
(c) before the end of 31 October next following the financial year, the Minister determines an amount that is:
(i) if subparagraph (b)(i) applies--the final Commonwealth GVP for the financial year; or
(ii) if subparagraph (b)(ii) applies--the final State or Territory GVP for the financial year for that State or Territory; or
(iii) if subparagraph (b)(iii) applies--the final total GVP for the financial year; and
(d) as at the end of 31 October next following the financial year, the total amount paid to the Corporation under paragraph (1)(b) in the financial year exceeds the amount that would have been paid to the Corporation under that paragraph in the financial year if:
(i) each reference in subsection (2) to interim Commonwealth GVP were a reference to the amount of final Commonwealth GVP so determined; and
(ii) each reference in subsection (2) to interim State or Territory GVP were a reference to the amount of final State or Territory GVP so determined; and
(iii) each reference in subsection (2) to interim total GVP were a reference to the amount of final total GVP so determined;
the Corporation must pay to the Commonwealth an amount equal to the excess.
(2C) If:
(a) an amount is paid to the Corporation under paragraph (1)(b) in a financial year; and
(b) the amount was calculated, in whole or in part, under subsection (2) on the basis of:
(i) interim Commonwealth GVP for the financial year; or
(ii) interim State or Territory GVP for the financial year for a State or Territory; or
(iii) interim total GVP for the financial year; and
(c) before the end of 31 October next following the financial year, the Minister determines an amount that is:
(i) if subparagraph (b)(i) applies--the final Commonwealth GVP for the financial year; or
(ii) if subparagraph (b)(ii) applies--the final State or Territory GVP for the financial year for that State or Territory; or
(iii) if subparagraph (b)(iii) applies--the final total GVP for the financial year; and
(d) as at the end of 31 October next following the financial year, the total amount paid to the Corporation under paragraph (1)(b) in the financial year falls short of the amount that would have been paid to the Corporation under that paragraph in the financial year if:
(i) each reference in subsection (2) to interim Commonwealth GVP were a reference to the amount of final Commonwealth GVP so determined; and
(ii) each reference in subsection (2) to interim State or Territory GVP were a reference to the amount of final State or Territory GVP so determined; and
(iii) each reference in subsection (2) to interim total GVP were a reference to the amount of final total GVP so determined;
the Commonwealth must pay to the Corporation an amount equal to the shortfall.
(2D) If:
(a) before the end of 31 October next following a financial year, the Minister has not determined under subsection (4) an amount that is final Commonwealth GVP for the financial year; and
(b) the Minister has determined under subsection (4) the amount that is final Commonwealth GVP for the previous financial year;
the Minister is taken to have made, immediately before the end of that 31 October, a determination under subsection (4) that the amount of final Commonwealth GVP for the financial year is equal to the amount of the final Commonwealth GVP determined under subsection (4) for the previous financial year.
(2E) If:
(a) before the end of 31 October next following a financial year, the Minister has not determined under subsection (4) the amount that is final State or Territory GVP for the financial year for a State or a Territory; and
(b) the Minister has determined under subsection (4) the amount that is final State or Territory GVP for the previous financial year for the State or Territory;
the Minister is taken to have made, immediately before the end of that 31 October, a determination under subsection (4) that the amount of final State or Territory GVP for the financial year for the State or Territory is equal to the amount of the final State or Territory GVP determined under subsection (4) for the previous financial year for the State or Territory.
(2F) If:
(a) before the end of 31 October next following a financial year, the Minister has not determined under subsection (4) the amount that is final total GVP for the financial year; and
(b) the Minister has determined under subsection (4) the amount that is final total GVP for the previous financial year;
the Minister is taken to have made, immediately before the end of that 31 October, a determination under subsection (4) that the amount that is final total GVP for the financial year is equal to the amount of the final total GVP determined under subsection (4) for the previous financial year.
(2G) The Minister may, on behalf of the Commonwealth, set off an amount payable by an R&D Corporation under this section against an amount that is payable to the Corporation under subsection (1) or (2C).
(2H) A determination made under this section is not a legislative instrument.
(3) Amounts payable under subsection (1) or (2C) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.
(4) In this section:
"final Commonwealth GVP" , in relation to a financial year, means the amount that the Minister determines to be the amount of the gross value of production for that financial year of the goods that are the produce of that part of the fishing industry that is managed by or on behalf of the Commonwealth.
"final State or Territory GVP" , in relation to a financial year and in relation to a State or Territory, means the amount that the Minister determines to be the amount of the gross value of production for that financial year of the goods that are the produce of that part of the fishing industry that is managed by or on behalf of the State or Territory.
"final total GVP" , in relation to a financial year, means the amount that the Minister determines to be the amount of the gross value of production for that financial year of the goods that are the produce of all parts of the fishing industry, whether managed by or on behalf of the Commonwealth, a State or a Territory.
"interim Commonwealth GVP" , in relation to a financial year, means the final Commonwealth GVP for the previous financial year.
"interim State or Territory GVP" , in relation to a financial year and in relation to a State or Territory, means the final State or Territory GVP for the previous financial year for the State or Territory.
"interim total GVP" , in relation to a financial year, means the final total GVP for the previous financial year.
(5) The regulations may provide for the manner in which the Minister is to determine the amount of the Commonwealth GVP, a State or Territory GVP or a total GVP for a financial year.