Document ID: chunk:federal_register_of_legislation:F2021C00391:body:0:p2
Version: federal_register_of_legislation:F2021C00391
Segment Type: other
Provision Reference: 
Character Range: 2792–5592

Authority
  These Regulations are made under the Customs Act 1901.

1.4  Definitions
  In these Regulations:
Act means the Customs Act 1901.
Agreement has the meaning given by section 153YA of the Act.
Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994 means the Agreement of that name set out in Annex 1A of the Marrakesh Agreement Establishing the World Trade Organization, done at Marrakesh on 15 April 1994.
Note: The Marrakesh Agreement Establishing the World Trade Organization is in Australian Treaty Series 1995 No. 8 ([1995] ATS 8) and could in 2021 be viewed in the Australian Treaties Library on the AustLII website (http://www.austlii.edu.au).
non‑originating materials has the meaning given by section 153YA of the Act.
originating materials has the meaning given by section 153YA of the Act.
produce has the meaning given by section 153YA of the Act.
US means the United States of America.
used has the meaning given by section 153YA of the Act.

Part 2—Tariff change requirement

2.1  Change in tariff classification requirement for non‑originating materials
  For the purposes of subsection 153YD(3) of the Act, a non‑originating material used in the production of goods that does not satisfy a particular change in tariff classification is taken to satisfy the change in tariff classification if:
 (a) it was produced entirely in the US, or entirely in the US and Australia, from other non‑originating materials; and
 (b) each of those other non‑originating materials satisfies the change in tariff classification, including by one or more applications of this regulation.

Part 3—Regional value content requirement

3.1  Build‑down method
 (1) For the purposes of subsection 153YD(7) of the Act, the regional value content of goods under the build‑down method is worked out using the formula:
where:
customs value means the customs value of the goods worked out under Division 2 of Part VIII of the Act.
value of non‑originating materials means the value, worked out under Part 4, of the non‑originating materials that are acquired by the producer and are used by the producer in the production of the goods, other than non‑originating materials produced by the producer.
 (2) Regional value content must be expressed as a percentage.

3.2  Build‑up method
 (1) For the purposes of subsection 153YD(7) of the Act, the regional value content of goods under the build‑up method is worked out using the formula:
where:
customs value means the customs value of the goods worked out under Division 2 of Part VIII of the Act.
value of originating materials means the value, worked out under Part 4, of the originating materials that are acquired by the producer, or produced by the producer, and are used by the producer in the production of