Document ID: chunk:federal_register_of_legislation:C2004A04933:body:0:p7
Version: federal_register_of_legislation:C2004A04933
Segment Type: other
Provision Reference: 
Character Range: 15589–18224

a grant year is not entitled to make a claim in relation to that 6 months.

    Note: This subsection does not prevent the body corporate from making a full-year claim in relation to the grant year.

"(2) Subsection (1) does not apply to the grant year beginning on 1 July 1994.

Pro-rating of claims—$250, 000 group grant ceiling

When this section applies

"23.(1) This section applies to a claim for a grant in relation to a grant year if:

    (a) the claimant is a body corporate; and

    (b) the claim is a full-year claim or a balance-year claim; and

    (c) at the end of the grant year, the claimant was a member of a related company group (the 'claimant's group'); and

    (d) the amount of the group's gross grants exceeds $250,000. Note: 'Group's gross grants' is defined by subsection (7).

Pro-rating

"(2) Despite section 16, the amount of the claimant's grant in respect of the claim is worked out using the formula:

SCHEDULE—continued

where:

'Claimant's gross grant' means the amount that would have been the amount of the claimant's grant in respect of the claim if it were assumed that this section had not been enacted.

    Note: 'Group's gross grants' is defined by subsection (7).

Notification

"(3) The claim must include:

    (a) a statement to the effect that the claimant was a member of a related company group as at the end of the grant year; and

    (b) a list of the names, company numbers (if applicable) and addresses of the bodies corporate that were, to the claimant's knowledge, both:

        (i) members of the claimant's group at the end of the grant year; and

        (ii) residents of Australia at any time during the grant year; and

    (c) notes explaining how each listed body was related to each other listed body as at the end of the grant year.

    Note 1: 'Company number' is defined by subsection (8).
    Note 2: 'Knowledge' is given an extended meaning by subsections (5) and, (6).
    Note 3: The following is an example of the operation of paragraph (3)(c). ABC Ltd and XYZ Ltd are listed. ABC Ltd and XYZ Ltd are subsidiaries (within the meaning of the Corporations Law) of LKM Holdings PLC (a British company). The paragraph (3)(c) notes should explain that ABC Ltd and XYZ Ltd are related to each other because they are subsidiaries (within the meaning of the Corporations Law) of LKM Holdings PLC.

Recovery of overpayments

"(4) For the purposes of subsection 40(1), if:

    (a) an amount of grant was paid to the claimant in respect of the claim; and

    (b) the claim did not comply with subsection (3) of this section;

the amount is taken to have been paid