Document ID: chunk:federal_register_of_legislation:C2004A00861:clause:1_37f
Version: federal_register_of_legislation:C2004A00861
Segment Type: clause
Provision Reference: sch 1 cl 37F
Character Range: 9783–10746

37F  Market milk payment rights—offsetting

 (1) It is a policy objective that the face value of an entity's basic market milk payment right or additional market milk payment right is to be reduced if:
 (a) the entity has been granted a payment right (the DSAP payment right) under the DSAP scheme; and
 (b) the conditions in paragraphs 51(1)(a), (b) and (c) of this Schedule are satisfied (about the DAA having made an error); and
 (c) the DAA has been unable to cancel a number of units (the protected units) in the DSAP payment right because of the operation of subclause 51(2).

 (2) It is a policy objective that the amount of the reduction is to be equal to the total face value of the protected units.

 (3) If the amount of the reduction would exceed the face value of the entity's basic market milk payment right or additional market milk payment right, then it is a policy objective that the face value of that payment right is to be reduced to zero.