Document ID: chunk:federal_register_of_legislation:F2015L00842:reg:12:p1
Version: federal_register_of_legislation:F2015L00842
Segment Type: reg
Provision Reference: reg 12 (pt 1/2)
Character Range: 16835–19730

12  Sales revenue
 (1) In this determination, the sales revenue of a participating person, or of a consolidated related party or declared related party of a participating person, for an eligible revenue period is to be worked out using the sources mentioned in subsections (2) and (4) to identify the amount of revenue for the period during the eligible revenue period (the relevant period), in which the participating person:
          (a) holds a carrier licence; or
          (b) is a participating carriage service provider.
 (2) For subsection (1), the sources are:
          (a) if the entity's sales revenue is included in the annual consolidated financial statements of an ultimate Australian parent entity:
            (i) if the most recent financial statements of the ultimate Australian parent entity for a period ending on or before the end of the eligible revenue period are required to be audited under the Corporations Act 2001 or any other law of the Commonwealth, a State or a Territory—those audited financial statements; and
            (ii) in any other case—the most recent financial statements of the ultimate Australian parent entity for a period ending on or before the end of the eligible revenue period; or
          (b) if the entity's sales revenue is not included in the annual consolidated financial statements of an ultimate Australian parent entity:
            (i) if the most recent financial statements of the participating person that include the participating person's sales revenue for a period ending on or before the end of the eligible revenue period are required to be audited under the Corporations Act 2001 or any other law of the Commonwealth, a State or a Territory—those audited financial statements; and
            (ii) in any other case—the most recent financial statements of the participating person that include the participating person's sales revenue for a period ending on or before the end of the eligible revenue period; or
          (c) for a declared related party:
            (i) if the most recent financial statements of the declared related party that include the declared related party's sales revenue for a period ending on or before the end of the eligible revenue period are required to be audited under the Corporations Act 2001 or any other law of the Commonwealth, a State or a Territory—those audited financial statements; and
            (ii) in any other case—the most recent financial statements of the declared related party that include the declared related party's sales revenue for a period ending on or before the end of the eligible revenue period.
 (3) For subsection (1), revenue is revenue for a relevant period if the following conditions apply:
          (a) the revenue is reported in:
            (i) the last financial statements for a period ending on or before the end of the eligible revenue period in