Document ID: chunk:federal_register_of_legislation:C2019C00064:section:37zk
Version: federal_register_of_legislation:C2019C00064
Segment Type: section
Provision Reference: s 37ZK
Character Range: 36662–38039

37ZK  Object of Part and simplified outline

Object
 (1) The object of this Part is to foster the development of a sustainable and internationally competitive manufacturing industry and design industry for clothing and household textiles in Australia by providing incentives which will promote innovation.

Simplified outline
 (2) The following is a simplified outline of this Part:

         • The Minister must formulate a scheme (the Clothing and Household Textile (BIC) scheme) for the making of grants in connection with the design and manufacture, in Australia, of eligible clothing and household textile products.
         • The total of the grants paid under the Clothing and Household Textile (BIC) scheme must not exceed $112.5 million.
         • The Clothing and Household Textile (BIC) scheme will provide for innovation grants in respect of clothing/finished textile expenditure.
         • The Clothing and Household Textile (BIC) scheme will provide for the making of those grants in respect of expenditure incurred in the 2010‑2011 to 2014‑2015 income years.
         • Grants under the Clothing and Household Textile (BIC) scheme are to be made in arrears.
         • Entities that wish to obtain grants under the Clothing and Household Textile (BIC) scheme will be required to register under the scheme and to submit strategic business plans and accounts.