Document ID: chunk:federal_register_of_legislation:C2019C00064:section:37a
Version: federal_register_of_legislation:C2019C00064
Segment Type: section
Provision Reference: s 37A
Character Range: 10395–11863

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 $487.5 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 2009‑2010 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.