Document ID: chunk:federal_register_of_legislation:C2004A01381:clause:1_37a
Version: federal_register_of_legislation:C2004A01381
Segment Type: clause
Provision Reference: sch 1 cl 37A
Character Range: 16780–18250

37A  Object of Part and simplified outline of Part

Object

 (1) The object of this Part is to foster the development of a sustainable and internationally competitive TCF manufacturing industry and TCF design industry in Australia by providing incentives which will promote investment and innovation.

Simplified outline

 (2) The following is a simplified outline of this Part:

         • The Minister must formulate a scheme (the TCF Post‑2005 (SIP) scheme) for the making of grants in connection with the design and manufacture, in Australia, of eligible TCF products.
         • The total of the grants paid under the TCF Post‑2005 (SIP) scheme must not exceed $575 million.
         • The TCF Post‑2005 (SIP) scheme will provide for 2 types of grants:

                (a) grants in respect of TCF capital investment expenditure on new TCF plant or buildings, brand support for TCF products or non‑production related information technology; and
                (b) grants in respect of TCF research and development expenditure.

         • The TCF Post‑2005 (SIP) scheme will provide for the making of those grants in respect of expenditure incurred in the 2005‑2006 to 2014‑2015 income years.
         • Grants under the TCF Post‑2005 (SIP) scheme are to be made in arrears.
         • Entities who wish to obtain grants under the TCF Post‑2005 (SIP) scheme will be required to register under the scheme and to submit strategic business plans and accounts.