Document ID: chunk:federal_register_of_legislation:C2025C00029:section:14:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 14 (pt 2/19)
Character Range: 5505306–5507913

repayment of the whole or a part of a *farm management deposit if:
 (a) the *owner of the deposit carries on a *primary production business that satisfies one or more of paragraphs (a), (b), (c) and (f) of the definition of primary production business in subsection 995‑1(1); and
 (b) any of the land on which the owner of the deposit carries on any primary production business that satisfies one or more of those paragraphs has, for the period specified in subsection (3AA), had rainfall that:
 (i) is deficient to an extent prescribed by the regulations; or
 (ii) if there are no such regulations—is within the lowest 5% of rainfall for that land according to records held by the Commonwealth Bureau of Meteorology; and
 (c) for the period specified in subsection (3AA):
 (i) the owner of the deposit has carried on, on that land, a primary production business that satisfies one or more of those paragraphs; and
 (ii) the amount of the repayment has been held in that farm management deposit.
 (3AA) For the purposes of paragraphs (3)(b) and (c), the period is:
 (a) a period prescribed by the regulations; or
 (b) if there are no such regulations—the most recent period of 6 consecutive months:
 (i) that precede the repayment; and
 (ii) for which rainfall records held by the Commonwealth Bureau of Meteorology are publicly available at the time of the repayment.

Repayment in the event of an applicable natural disaster
 (3A) Subsections (1) and (2) do not apply to a repayment of the whole or a part of a *farm management deposit if:
 (a) natural disaster relief and recovery arrangements made by or on behalf of the Commonwealth apply, in a way specified in regulations made for the purposes of this subsection, to a *primary production business of the *owner of the deposit; and
 (b) all of the other circumstances specified in those regulations are satisfied.

Any later deposit not a farm management deposit
 (4) If subsection (3) or (3A) applies to an *owner and a repayment, any later deposit that is made by, or on behalf of, the owner in the income year in which the repayment is made is not, and is taken never to have been, a farm management deposit.

Repayment in the case of death, bankruptcy or ceasing to carry on a primary production business
 (5) Subsections (1) and (2) do not apply to a repayment of a *farm management deposit because of the requirement contained in the relevant agreement as set out in item 11 of the table in section 393‑35 (death, bankruptcy etc.).

Certain transactions do not affect the day the deposit was made
 (6) Subsections (1) to (4) apply as if a *farm