Export Market Development Grants Determination of the Payout Factor for Grant Year 2012-13

Overview

The Export Market Development Grants Act 1997 was enacted to provide support for Australian businesses to develop new export markets and expand existing ones. This Act was introduced to address the need for financial assistance to help businesses overcome the high costs and risks associated with entering new markets. The policy objective of the Act is to facilitate and promote the growth of Australian exports by providing grants to eligible businesses. Enacted by the Parliament of Australia, the Act has since been amended to ensure its continued relevance and effectiveness in supporting the export sector. In 2014, the Australian Trade Commission determined the payout factor for the grant year 2012-13 to be 1.00, ensuring that businesses received the full value of their grants as intended under the Act. This determination was made pursuant to section 69 of the Act, highlighting the ongoing commitment to support and enhance Australia's export capabilities.

Scope and Application

The Export Market Development Grants Act 1997 applies to entities seeking financial assistance to develop and expand their export markets, particularly Australian businesses and entities engaged in export activities. The Act facilitates the provision of grants to support these entities in overcoming barriers to entering or expanding in international markets. Geographically, the Act operates under Commonwealth jurisdiction, meaning it applies across Australia and to Australian entities engaging in international trade. The Act does not explicitly state exclusions or thresholds, but the determination of payout factors, such as the one specified for the 2012-13 grant year, may implicitly set conditions for eligibility and distribution of grants. Subordinate instruments can further extend or restrict the application of the Act, allowing for adjustments in the payout factors and other grant-related parameters to align with changing economic and trade conditions.

Key Provisions

The Export Market Development Grants Act 1997 (the "Act") primarily serves to provide grants for the development of export markets for goods and services produced in Australia. Section 69 of the Act, which is referenced in the Gazette, allows for the determination of the payout factor for specific grant years, ensuring that the financial assistance provided is appropriate and sustainable. In this instance, the payout factor for grant year 2012-13 has been set at one point zero zero (1.00) by Ian D Chesterfield, General Manager Programs, Consular & Business Services, Australian Trade Commission. Under the Act, the Australian Trade Commission is tasked with the responsibility of administering the grants, ensuring that they are distributed effectively to eligible recipients. This involves identifying suitable applicants, assessing their proposals, and determining the amount of grant funding each will receive based on the established payout factor. The Act also includes provisions for the review and audit of grant recipients to ensure compliance with the terms and conditions of the grants, as well as the overall objectives of the Act. Entities and parties governed by the Act must adhere to the requirements and guidelines set out within the legislation. This includes providing accurate and complete information in their grant applications, maintaining proper records and documentation related to the use of grant funds, and reporting on the outcomes and impact of the projects funded by the grants. Failure to comply with these obligations may result in the suspension or termination of grant funding, as well as potential legal consequences. The Act imposes various offences and penalties for breaches of its provisions. Section 122, for instance, outlines the circumstances under which a person may be found guilty of an offence, including providing false or misleading information in a grant application, misusing grant funds, or failing to comply with reporting requirements. The maximum penalties for these offences may include fines of up to $21,000 for individuals and $105,000 for corporations, as well as potential criminal prosecution. In addition to criminal penalties, the Act also provides for civil remedies, such as the recovery of improperly paid grants and compensation for any loss or damage caused by a breach of the Act.