Export Market Development Grants (Information and Document Requirements) Determination 2008
as amended
made under section 73A of the
Export Market Development Grants Act 1997
This compilation was prepared on 1 July 2015
taking into account amendments up to Export Market Development Grants (Information and Document Requirements) Amendment Determination 2015 (No. 1)
Prepared by the Australian Trade Commission
Contents
1 Name of Determination [see Note 1]
2 Commencement
3 Definition
4 Information and Document Requirements
Notes
1 Name of Determination [see Note 1]
This Determination is the Export Market Development Grants (Information and Document Requirements) Determination 2008.
2 Commencement
This Determination commences on 1 July 2008.
3 Definition
In this Determination:
Act means the Export Market Development Grants Act 1997.
4 Information and Document Requirements
(1) For paragraphs 70 (2C) (f) and (g) of the Act, the following information and document requirements are specified:
(a) the applicant’s business plan, including the applicant’s international marketing strategy;
(b) the applicant’s audited statement of income for the grant year, including:
(i) the income received by the applicant from all sources including international sources; and
(ii) the income receivable by the applicant from all sources including international sources;
(ba) an opinion of the applicant’s export potential, based on:
(i) the applicant’s sales and revenue budgets for the year following the grant year; and
(ii) an examination of any correspondence that supports the projected export income; and
(iii) a comparison of the applicant’s previous sales and revenue projections with actual results in those periods;
(c) the applicant’s audited profit and loss statement for the grant year and the year preceding the grant year;
(d) the applicant’s audited balance sheet for the grant year and the year preceding the grant year;
(e) a statement that details the economic benefits generated, or that will be generated, from the applicant’s international business activities in 2 or more of the following areas:
(i) employment in Australia;
(ii) new capital investment in Australia;
(iii) introduction of new technologies in Australia;
(iv) new value‑added operations in Australia.
(2) For subsection (1), a reference to:
(a) an audited statement of income; or
(b) an audited profit and loss statement; or
(c) an audited balance sheet;
is a reference to a document that has been audited by a person who is a registered company auditor for the Corporations Act 2001.
(2A) For subsection (1), a reference to an opinion of the applicant’s export potential is a reference to a document that has been prepared by a person who is a registered company auditor for the Corporations Act 2001.
(3) Section 4, as in force immediately before the commencement of this subsection, is taken to apply to an application made in relation to the grant year commencing on 1 July 2008.
(4) Section 4, as in force immediately before the commencement of this subsection, is taken to apply to an application made in relation to a grant year commencing on 1 July during the period from the start of 1 July 2009 to 30 June 2014.
Notes to the Export Market Development Grants (Information and Document Requirements) Determination 2008
Note 1
The Export Market Development Grants (Information and Document Requirements) Determination 2008 (in force under section 73A of the Export Market Development Grants Act 1997) as shown in this compilation is amended as indicated in the Tables below.
Table of Instruments
Title | Date of FRLI registration | Date of
commencement | Application, saving or
transitional provisions |
Export Market Development Grants (Information and Document Requirements) Determination 2008 | 30 June 2008 (see F2008L02329) | 1 July 2008 | |
Export Market Development Grants (Information and Document Requirements) Amendment Determination 2010 (No. 1) | 30 June 2010 (see F2010L01862) | 1 July 2010 | — |
Export Market Development Grants (Information and Document Requirements) Amendment Determination 2015 (No. 1) | 30 June 2015 (see F2015L00892) | 1 July 2015 | — |
Table of Amendments
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
Provision affected | How affected |
S. 4................. | am. 2010 No. 1, 2015 No. 1 |
Overview
The Export Market Development Grants (Information and Document Requirements) Determination 2008 was enacted under section 73A of the Export Market Development Grants Act 1997. This legislative instrument was introduced to address the need for clear and comprehensive documentation requirements for applicants seeking export market development grants. The determination outlines the specific information and documents required to support an application, ensuring transparency and accountability in the grant application process. The determination was prepared by the Australian Trade Commission and was effective from 1 July 2008. The policy objective is to provide clear guidelines for applicants, facilitating a streamlined and efficient process for grant applications.
The Export Market Development Grants (Information and Document Requirements) Determination 2008 has been amended several times to refine and update the requirements, with amendments taking effect from 1 July 2010 and 1 July 2015 respectively. The amendments aim to improve the clarity and effectiveness of the documentation process, ensuring that applicants have the necessary information to submit comprehensive and well-supported applications. This legislative instrument is part of a broader effort to support Australian businesses in expanding their market presence internationally, thereby contributing to the economic growth of the nation.
Scope and Application
The Export Market Development Grants (Information and Document Requirements) Determination 2008, as amended, applies to entities seeking to obtain Export Market Development Grants under the Export Market Development Grants Act 1997. The Determination specifies the information and documents that applicants must submit to substantiate their applications, including their business plans, audited financial statements, and opinions on export potential, all of which must be prepared by registered company auditors under the Corporations Act 2001. The Determination has a Commonwealth jurisdictional reach and applies to applications made from 1 July 2008 onwards, with specific provisions for applications made in relation to grant years starting from 1 July 2008 to 30 June 2014. The Determination can be extended or modified through subordinate instruments, such as the Export Market Development Grants (Information and Document Requirements) Amendment Determinations, which were made in 2010 and 2015, indicating that the scope and application of the original Determination can be updated to reflect changes in policy or administrative requirements.
Key Provisions
The Export Market Development Grants (Information and Document Requirements) Determination 2008, as amended, specifies the information and documents required for applications under the Export Market Development Grants Act 1997. According to section 4(1) of the Determination, applicants must provide several key documents and pieces of information to support their grant application. These include the applicant’s business plan detailing the international marketing strategy, audited financial statements for the grant year and the preceding year, and a statement of the economic benefits expected from the applicant’s international business activities. Specifically, the required documents are the applicant's audited statement of income, profit and loss statement, and balance sheet for the grant year and the previous year (section 4(2)). Additionally, section 4(2A) mandates that any opinion on the applicant’s export potential must be prepared by a registered company auditor under the Corporations Act 2001.
The Determination imposes specific obligations on applicants for export market development grants. Applicants must ensure that all financial statements and opinions are audited by a registered company auditor as per the Corporations Act 2001 (section 4(2) and 4(2A)). The business plan must comprehensively cover the international marketing strategy, while the economic benefits statement must detail impacts in at least two of the following areas: employment in Australia, new capital investment in Australia, introduction of new technologies in Australia, or new value-added operations in Australia (section 4(1)(e)). These requirements ensure that applicants provide detailed and verified information to support their grant applications, facilitating the assessment of their potential for international market development.
Breach of the requirements outlined in the Export Market Development Grants (Information and Document Requirements) Determination 2008 may result in civil or criminal consequences, although the Determination itself does not explicitly detail penalties. Under the Export Market Development Grants Act 1997, failure to comply with the requirements for information and documents could lead to the rejection of a grant application. Further, any fraudulent submission of information or documents could potentially result in civil or criminal penalties under the relevant Acts, such as the Crimes Act 1914. It is essential for applicants to ensure the accuracy and authenticity of the submitted documents to avoid any adverse consequences.