Document ID: chunk:federal_register_of_legislation:F2021L01155:reg:42:p1
Version: federal_register_of_legislation:F2021L01155
Segment Type: reg
Provision Reference: reg 42 (pt 1/4)
Character Range: 81650–84353

42  Eligibility payment or deed of financial security required for maximum eligibility points
 (1) An applicant must secure the applicant's maximum eligibility points specified in its eligibility nomination form or updated eligibility nomination form by:
 (a) making a payment (eligibility payment) of the required amount to the ACMA; or
 (b) giving the ACMA a deed of financial security for the required amount; or
 (c) both:
 (i) making a payment (eligibility payment) for part of the required amount to the ACMA; and
 (ii) giving the ACMA a deed of financial security for the remainder of the required amount.
Note 1: For information on how an eligibility payment is made, see section 10. For information on how a deed of financial security is given, see section 7 and subsections (9) and (10).
Note 2: An applicant must act in accordance with this subsection by the eligibility deadline or, if there is one, the extended eligibility deadline: see subsections 31(7) and 48(4).
 (2) In this section, the required amount for an applicant (when expressed in dollars) is 10% of the sum of, for each product, the amount calculated by multiplying:
 (a) the sum of:
 (i) the provisional start demand of the applicant (when expressed in lots) for the product; and
 (ii) if the applicant is a set-aside participant and the product is the 900 upper major population product – 1 set-aside lot of the 900 upper major population product; and
 (iii) if the applicant is a set-aside participant and the product is the 900 upper regional product – 1 set-aside lot of the 900 upper regional product;
 by:
 (b) the starting price for the lots of the product.
 (3) If an applicant makes an eligibility payment or gives a deed of financial security, or both, for an amount (the incomplete amount) less than the required amount, the ACMA must, in writing, notify the applicant that:
 (a) the applicant has made an eligibility payment or given a deed of financial security, or both, whichever is the case, for less than the required amount; and
 (b) the applicant must, before the eligibility deadline or extended eligibility deadline (if there is one), or no later than 3 working days after the date of the notice, whichever is the later, make a payment (eligibility payment) or give a deed of financial security, or both, for the remainder of the required amount.
 (4) If the applicant:
 (a) is not a set-aside participant; and
 (b) does not comply with the notice given under subsection (3);
  then:
 (c) subject to paragraph (e), the maximum eligibility points secured by the applicant is calculated by:
 (i) first, dividing the incomplete amount by the required amount; and
 (ii) second, multiplying the quotient from