Document ID: chunk:federal_register_of_legislation:C2024C00499:section:5
Version: federal_register_of_legislation:C2024C00499
Segment Type: section
Provision Reference: s 5
Character Range: 10404–11877

5  Core criteria for applying for or holding a tradex order
 (1) The core criteria for the making by a person of an application for, or an application for a variation of, a tradex order are:
 (a) that the person intends to import nominated goods that are to be subsequently exported; and
 (b) that the requirements of regulations made for the purposes of this paragraph are met in relation to the nominated goods; and
 (c) that the nominated goods will be exported within one year after their entry for home consumption; and
 (d) that adequate record‑keeping and accounting systems are in place in respect of nominated goods until they are exported.
 (2) The core criteria for the holding by a person of a tradex order are:
 (a) that the holder:
 (i) intends to import nominated goods that are to be subsequently exported; or
 (ii) has imported, and intends to continue to import, nominated goods that have been, or are to be, subsequently exported; and
 (b) that the requirements of regulations made for the purposes of this paragraph have been met in relation to all of the nominated goods that have been exported; and
 (c) that every exportation of nominated goods occurred within one year after their entry for home consumption; and
 (d) that adequate record‑keeping and accounting systems are in place in respect of nominated goods until they are exported.
Note: The Secretary has power to extend periods referred to in paragraphs (1)(c) and (2)(c) (see section 43).