Document ID: chunk:federal_register_of_legislation:C2013C00665:section:30a:p2
Version: federal_register_of_legislation:C2013C00665
Segment Type: section
Provision Reference: s 30A (pt 2/2)
Character Range: 14571–16467

so required to be spent by the Corporation is not less than 1% of that total GVP—an amount equal to 0.25% of that State or Territory GVP for that year; or
 (ii) if that amount is more than 0.5%, but less than 1%, of that total GVP—half of the amount equal to the percentage of that State or Territory GVP for that year by which the amount so required to be spent was more than 0.5% of that total GVP;
  reduced by the amount (if any) by which the amount worked out under subparagraph (i) or (ii) (as the case may be) exceeds the amount of the payment made by the State or Territory to the Commonwealth in respect of research and development in respect of the fishing industry.
 (3) Amounts payable under subsection (1) are to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.
 (4) In this section:
Commonwealth GVP, in relation to a financial year, means the amount that the Minister determines to be the gross value of production for that financial year of the goods that are the produce of that part of the fishing industry that is managed by or on behalf of the Commonwealth.
State or Territory GVP, in relation to a financial year, means the amount that the Minister determines to be the gross value of production for that financial year of the goods that are the produce of that part of the fishing industry that is managed by or on behalf of the particular State or Territory.
total GVP, in relation to a financial year, means the amount that the Minister determines to be the gross value of production for that financial year of the goods that are the produce of all parts of the fishing industry, whether managed by or on behalf of the Commonwealth, a State or a Territory.
 (5) The regulations may provide for the manner in which the Minister is to determine the amount of the Commonwealth GVP, a State or Territory GVP or a total GVP for a financial year.