Document ID: chunk:federal_register_of_legislation:C2004A00861:clause:1_37e
Version: federal_register_of_legislation:C2004A00861
Segment Type: clause
Provision Reference: sch 1 cl 37E
Character Range: 7677–9783

37E  Additional market milk payment rights—eligibility etc.

Basic eligibility criteria

 (1) It is a policy objective that an entity is not eligible to be granted an additional market milk payment right unless:
 (a) the entity has been granted a payment right under the DSAP scheme in respect of a dairy farm enterprise (the qualifying enterprise); and
 (b) the entity held an interest (of a kind referred to in the SDA scheme) in that enterprise, or in any other dairy farm enterprise, at a time referred to in the SDA scheme; and
 (c) the number (the market milk number) worked out in accordance with the following formula is at least 35.1 (rounding to 1 decimal place and rounding up if the second decimal place is 5 or more):

Note: See also subclause (5) for how those delivery numbers are worked out.

Calculation of face value

 (2) It is a policy objective that the face value of an entity's additional market milk payment right is to be a share (worked out in accordance with the SDA scheme) of the overall market milk amount for the qualifying enterprise.

Interpretation

 (3) For the purposes of this clause, the overall market milk amount for the qualifying enterprise is the amount worked out in accordance with the following formula:
where:

relevant cents means:
 (a) if the market milk number is at least 45—12 cents; or
 (b) if the market milk number is at least 35.1 and less than 45—the number of cents worked out in accordance with the following formula:

 (4) However, if the amount calculated under subclause (3) is more than $60,000, then the overall market milk amount for the qualifying enterprise is taken to be $60,000.

 (5) A reference in this clause to the total number of litres of market milk, or the total number of litres of manufacturing milk, delivered by the qualifying enterprise in the 1998‑1999 financial year is a reference to that number as determined by the DAA to have taken to have been delivered by that enterprise in that year.

 (6) This clause is subject to clause 37V (about the effect of death on eligibility etc. for the grant of payment rights).