Commonwealth Consolidated Acts

PRIMARY INDUSTRIES RESEARCH AND DEVELOPMENT ACT 1989 - SECT 31

  (1)   If:

  (a)   a levy is attached to an R&D Corporation; and

  (b)   the Corporation is not a Corporation declared by the regulations to be an R&D Corporation to which this section does not apply;

the sum of the amounts paid to the Corporation under paragraph   30(1)(b) is not to exceed the sum of:

  (c)   the amounts paid to the Corporation under subparagraphs   30(1)(a)(i) and (ii) (less the sum of any refunds in relation to research components of levies attached to the Corporation); and

  (d)   amounts in relation to which subsection   (2) applies; and

  (e)   other amounts of matching payments specified in the regulations.

  (2)   Where an R&D Corporation is established in respect of the dairy industry, and that Corporation accepts an amount paid to it by way of gift or grant from a co - operative company (as defined by sections   117 and 118 of the Income Tax Assessment Act 1936 ) in the dairy industry, for the purposes of research and development, the Corporation may, subject to the regulations, determine that this subsection applies in relation to the amount.

  (3)   This section does not apply in relation to the RIR&D Corporation.