Document ID: chunk:federal_register_of_legislation:C2012A00082:clause:1_35
Version: federal_register_of_legislation:C2012A00082
Segment Type: clause
Provision Reference: sch 1 cl 35
Character Range: 14212–16449

35  Subsection 6(4)
Repeal the subsection, substitute:

Matching payments—retention limit
 (4) The matching payments made to the eligible body during a particular financial year are subject to the condition that, if:
 (a) before the end of 31 October next following the financial year, the Minister determines the amount of the gross value of whole milk produced in Australia in the financial year; and
 (b) as at the end of 31 October next following the financial year, the sum of the matching payments that were paid to the eligible body during the financial year exceeds the lesser of:
 (i) 0.5% of the amount of the gross value of whole milk produced in Australia in the financial year as determined by the Minister; and
 (ii) 50% of the amount spent by the eligible body in the financial year on activities that qualify, under the funding contract, as research and development activities;
the eligible body will pay to the Commonwealth an amount equal to the excess.
Note: This ensures that the sum of the matching payments that are retained by the eligible body in relation to the financial year does not exceed the lesser of the amounts calculated under subparagraphs (b)(i) and (b)(ii).
 (4A) If:
 (a) before the end of 31 October next following a financial year, the Minister has not determined under subsection (4) the amount of the gross value of whole milk produced in Australia in the financial year; and
 (b) the Minister has determined under subsection (4) the amount of the gross value of whole milk produced in Australia in the previous financial year;
the Minister is taken to have made, immediately before the end of that 31 October, a determination under subsection (4) that the amount of the gross value of whole milk produced in Australia in the financial year is equal to the amount of the gross value of whole milk produced in Australia determined under subsection (4) for the previous financial year.
 (4B) An amount payable under subsection (4) by the eligible body:
 (a) is a debt due to the Commonwealth; and
 (b) may be recovered by the Minister, on behalf of the Commonwealth, by action in a court of competent jurisdiction.
 (4C) A determination made under subsection (4) is not a legislative instrument.