Export Expansion Grants Regulations (Amendment) (Cth)
REGULATIONS UNDER THE EXPORT EXPANSION GRANTS ACT 1978*
I,
THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice
of the Federal Executive Council, hereby make the following Regulation under
the
Dated this twenty-second day of May 1980.
ZELMAN COWEN
Governor-General
By His Excellency’s Command,
J. D. ANTHONY
Minister of State for Trade and Resources
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AMENDMENT OF THE EXPORT EXPANSION GRANTS REGULATIONS
The Export Expansion Grants Regulations are amended by adding at the end thereof the following regulation:
“ 6. (1) The export earnings increment of a person in respect of the grant year that commenced on 1 July 1977 shall be calculated—
(a) where the person had export earnings in at least 2 of the 3 immediately preceding years—as if the aggregate of the export earnings of the person during the years in which he had export earnings had been lower than it actually was by an amount ascertained in accordance with the formula—
,
where—
*
Notified in the
Statutory Rules 1979, No. 13, as amended by Statutory Rules 1979, No. 105.
15646/79 Cat. No. —Recommended retail price 20c 13/8.4.1980
M is an amount equal to the aggregate of the amount of consideration received or receivable by the person that is attributable to the export by the person in the 3 years immediately preceding the grant year of prescribed meat;
Y is the number of years, in the 3 years immediately preceding the grant year, during which the person had export earnings;
X is the amount of consideration received or receivable by the person that is attributable to the export by the person in that grant year of prescribed meat; and
(b) where the person had export earnings in only one of the 3 immediately preceding years—as if the export earnings of the person during that year had been lower than they actually were by an amount ascertained in accordance with the formula—
,
where M and X have the same respective meanings as in paragraph (a).
“ (2) The export earnings increment of a person in respect of a prescribed grant year shall be calculated as if the export earnings of the person during each of the 3 years immediately preceding that grant year had been lower than they actually were by an amount equal to the amount of consideration received or receivable by the person that is attributable to the export by the person of prescribed meat.
“ (3) Where, in the application to a person of the formula in paragraph (1) (a) or (b), the value of YX or 1.33X, as the case may be, is greater than the value of M, the value of YX or 1.33X shall, for the purpose of the application of the formula to that person, be deemed to be equal to the value of M.
“ (4) Where, in the application to a person of sub-regulation (1) or (2), the amount calculated in accordance with that sub-regulation in respect of a year is equal to the export earnings of the person in that year, the amount calculated in accordance with that sub-regulation shall, by virtue of this sub-regulation, be reduced by $100.
“ (5) In this regulation—
‘ prescribed grant year ’ means each of the grant years commencing on 1 July 1978, 1 July 1979 and 1 July 1980;
‘ prescribed meat ’ means meat, in whatever form, exported to the United States of America or Canada by virtue of a quota allocated under a scheme prepared by the Australian Meat Board, whether the meat is derived from cattle, sheep or any other animal.”.
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Printed by Authority by the Commonwealth Government Printer
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