Rural and Regional Adjustment Amendment Regulation (No. 4) 2005 (Qld)

Queensland Rural and Regional Adjustment Amendment Regulation (No. 4) 2005 Subordinate Legislation 2005 No. 106 made under the Rural and Regional Adjustment Act 1994 Contents Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Amendment of schedule (Approved assistance schemes). . . . . . 2

s1 2 s3 Rural and Regional Adjustment Amendment Regulation (No. 4) 2005 No. 106, 2005 1 Short title This regulation may be cited as the Rural and Regional Adjustment Amendment Regulation (No. 4) 2005 . 2 Regulation amended This regulation amends the RuralandRegionalAdjustmentRegulation 2000. 3 Amendment of schedule (Approved assistance schemes) (1) Schedule, before section 1— insert— ‘Division 1 Preliminary’. (2) Schedule, section 1— insert— ‘ division 2 scheme see section 12E(1). domestic market grower means the following relevant growers— (a) MC and CS Iddles, trading as Selma Citrus; (b) Gillian Crest Pty Ltd, trading also as Cordoma Farms. scheme means— (a) for division 2—the part of the Citrus Industry Recovery Scheme set out in division 2; and (b) for division 3—the part of the Citrus Industry Recovery Scheme set out in division 3.’. (3) Schedule, after section 1— insert— ‘Division 2 Loans to relevant growers’. (4) Schedule, part 1, after section 12— insert—

s3 3 s3 Rural and Regional Adjustment Amendment Regulation (No. 4) 2005 No. 106, 2005 ‘Division 3 Refinancing loans to domestic market growers ‘12A Objective of scheme ‘The objective of the scheme is to assist domestic market growers who maintained citrus varieties in the expectation of obtaining access to the domestic market in 2005. ‘12B Purpose of assistance ‘The purpose of assistance under the scheme is to mitigate hardship for domestic market growers, incurred as a result of the canker outbreak. ‘12C Nature of assistance ‘The nature of the assistance that may be given under the scheme is the refinancing of loans, relating to commercial citrus growing, at concessional rates of interest. ‘12D Maximum loan amounts ‘The maximum amount of a loan, or the total of more than 1 loan, that may be refinanced under the scheme is $500000. ‘12E Further assistance under division 2 scheme permitted ‘(1) Refinancing of an applicant’s loan under the scheme does not stop the applicant applying for assistance under the scheme mentioned in division 2 (the division 2 scheme ). ‘(2) However, the maximum amount of all loans granted under the division 2 scheme and the scheme to an applicant is $500000. ‘12F Eligibility criteria ‘(1) To be eligible to receive assistance under the scheme, an applicant must—

s3 4 s3 Rural and Regional Adjustment Amendment Regulation (No. 4) 2005 No. 106, 2005 (a) be a domestic market grower who requires financial assistance to recover from the impacts of the canker outbreak; and (b) demonstrate sound prospects for commercial viability, and the ability to service the loan, in the long-term; and (c) provide evidence of a financial need for the assistance; and (d) demonstrate that the amount of off-farm or liquid assets owned by the applicant is not more than the amount needed for prudent risk management; and (e) ordinarily have obtained the applicant’s major source of income from commercial citrus growing or value-adding activities related to commercial citrus growing; and (f) give the authority a business plan for the applicant’s on-farm business that complies with section 12G. ‘(2) However, an applicant is eligible to receive assistance for the applicant’s on-farm business only if the land on which the citrus varieties are grown is within the local government area of the Emerald Shire Council. ‘12G Requirements for business plan ‘(1) For section 12F(1)(f), a business plan 1 must— (a) adopt a whole of business approach to planning, and include components dealing with matters such as marketing and financial and risk management; and (b) relate to the whole of the applicant’s business. ‘(2) The authority may ask the applicant for further information in relation to the business plan submitted by the applicant. ‘12H Terms of repayment ‘(1) The maximum term of a loan is 10 years. 1 Guidelines on the content of a business plan may be obtained from the authority.

s3 5 s3 Rural and Regional Adjustment Amendment Regulation (No. 4) 2005 No. 106, 2005 ‘(2) No interest will apply for the first 2 years of the loan. ‘(3) After the first 2 years, interest will be payable at the rate provided for under section 12I. ‘(4) The loan will have a non-repayment period of 2 years. ‘12I Interest rate ‘(1) The initial interest rate for a loan under the scheme will be worked out at the end of the interest free period mentioned in section 12H(2). ‘(2) Section 9(2) to (8) applies to the refinancing of the loan as if— (a) it were a loan under division 2; and (b) a domestic market grower were a relevant grower. ‘12J Other provisions of the scheme ‘(1) Subject to subsection (2), sections 10 to 12 apply to the scheme as if— (a) the scheme were the division 2 scheme; and (b) a domestic market grower were a relevant grower; and (c) an application for refinancing a loan were an application for a loan under division 2. ‘(2) Section 12(2) applies as if ‘section 6’ were replaced by ‘section 12F’. ENDNOTES 1 Made by the Governor in Council on 2 June 2005. 2 Notified in the gazette on 3 June 2005. 3 Laid before the Legislative Assembly on . . . 4 The administering agency is the Department of Primary Industries and Fisheries. © State of Queensland 2005