Rural and Regional Adjustment Amendment Regulation (No. 6) 2007 (Qld)

Queensland Rural and Regional Adjustment Amendment Regulation (No. 6) 2007 Subordinate Legislation 2007 No. 250 made under the Rural and Regional Adjustment Act 1994 Contents Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Amendment of s 7 (Approval of schemes—Act, s 11) . . . . . . . . . 2 4 Amendment of schedule (Approved assistance schemes). . . . . . 2

s1 2 s4 Rural and Regional Adjustment Amendment Regulation (No. 6) 2007 No. 250, 2007 1 Short title This regulation may be cited as the Rural and Regional Adjustment Amendment Regulation (No. 6) 2007 . 2 Regulation amended This regulation amends the RuralandRegionalAdjustmentRegulation 2000. 3 Amendment of s 7 (Approval of schemes—Act, s 11) Section 7— insert— ‘(u) the Queensland Commercial Horse Small Business Emergency Assistance Scheme, set out in the schedule, part 21.’. 4 Amendment of schedule (Approved assistance schemes) Schedule— insert— ‘Part 21 Queensland Commercial Horse Small Business Emergency Assistance Scheme ‘207 Objective of scheme ‘The objective of the scheme is to assist owners of small businesses in Queensland to meet operating and other essential costs if the businesses— (a) derive the majority of their income from being part of the commercial horse industry; and (b) the equine influenza outbreak has caused a significant downturn in the businesses’ incomes.

s4 3 s4 Rural and Regional Adjustment Amendment Regulation (No. 6) 2007 No. 250, 2007 ‘208 Nature of assistance ‘The nature of the assistance that may be given under the scheme is an interest subsidy for new or existing commercial loans. ‘209 Definitions for pt 21 ‘In this part— applicant means a person applying for financial assistance under the scheme. equine influenza outbreak means the outbreak of equine influenza, the subject of the repealed ExoticDiseasesinAnimals (Equine Influenza—Standstill Zone) Notice 2007 . Note — The repealed Exotic Diseases in Animals (Equine Influenza—StandstillZone)Notice2007 was made by the Minister, and published in the gazette, on 26 August 2007. commercial horse industry means the industry consisting of businesses that derive income from activities, or that are connected with commercial activities, involving animals of the family Equidae. scheme means the scheme set out in this part. significant downturn , in the income of a small business, means the small business has difficulty, or is likely to have difficulty, meeting its financial commitments as a result of the equine influenza outbreak. small business means either of the following, having not more than 100 employees— (a) a business that has an ABN and whose principal place of business is in the State; (b) a corporation whose registered office is in the State. ‘210 Eligibility criteria ‘For an applicant to be eligible to receive assistance, the authority must be satisfied that—

s4 4 s4 Rural and Regional Adjustment Amendment Regulation (No. 6) 2007 No. 250, 2007 (a) the applicant owns, whether as sole owner, in partnership or as a private company, and currently operates a small business; and (b) the small business— (i) was operating on 25 August 2007; and (ii) obtained at least 50% of its income, for the financial year starting on 1 July 2006, from being part of the commercial horse industry; and (c) the outbreak of equine influenza has caused a significant downturn in the small business’s income. ‘211 Period of assistance ‘The period for which an interest subsidy is given is 6 months. ‘212 Amount of assistance ‘(1) The maximum interest subsidy that may be given under the scheme to a small business is $5000. ‘(2) The interest subsidy will be not more than 50% of the interest payable on new or existing loans for the period of the assistance, if the lender’s rate is competitive for the loan being subsidised. ‘(3) Any loans or associated costs already subsidised under any other Commonwealth or State assistance scheme must not be considered for support. ‘213 Terms ‘(1) Payment of an interest subsidy for a loan will be made— (a) after the authority has secured agreement from the lender that the lender will, for a period of at least 1 year starting on the day the application is made, continue to support the applicant; and Example of supporting the applicant — the lender completes the relevant documents mentioned in the application form

s4 5 s4 Rural and Regional Adjustment Amendment Regulation (No. 6) 2007 No. 250, 2007 (b) subject to any other terms decided by the authority. ‘(2) An interest subsidy for a loan will be paid to a bank account nominated by the applicant. ‘214 Applications ‘(1) An application for assistance under the scheme must be— (a) made on the authority’s application form; and (b) accompanied by the documents mentioned in the application form. ‘(2) All applications for assistance under the scheme must be received by the authority on or before 31 March 2008. Note — It is intended to carry out a review of the scheme on or before 31 March 2008 to decide if there is an on-going need for assistance for small businesses. ‘215 Deciding applications ‘The authority must consider, and decide to approve, or refuse to approve, each application for assistance under the scheme.’. ENDNOTES 1 Made by the Governor in Council on 11 October 2007. 2 Notified in the gazette on 12 October 2007. 3 Laid before the Legislative Assembly on . . . 4 The administering agency is the Department of Primary Industries and Fisheries. © State of Queensland 2007