Document ID: chunk:federal_register_of_legislation:C2012A00082:clause:1_68
Version: federal_register_of_legislation:C2012A00082
Segment Type: clause
Provision Reference: sch 1 cl 68
Character Range: 45656–47833

68  After subsection 16(7)
Insert:
 (7A) Payments made to the industry services body during a particular financial year under subsection (2) are subject to the condition that, if:
 (a) before the end of 31 October next following the financial year, the Secretary determines the amount of the gross value of production of the horticultural industry for 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 industry services body during the financial year exceeds 0.5% of the amount of the gross value of production of the horticultural industry for the financial year as determined by the Secretary;
the industry services body will pay to the Commonwealth an amount equal to the excess.
Note 1: This ensures that the sum of the matching payments that are retained by the industry services body in relation to the financial year does not exceed 0.5% of the amount of the gross value of production of the horticultural industry for the financial year as determined by the Secretary.
Note 2: For the meaning of horticultural industry, see section 4.
 (7B) If:
 (a) before the end of 31 October next following a financial year, the Secretary has not determined under subsection (7A) the amount of the gross value of production of the horticultural industry for the financial year; and
 (b) the Secretary has determined under subsection (7A) the amount of the gross value of production of the horticultural industry for the previous financial year;
the Secretary is taken to have made, immediately before the end of that 31 October, a determination under subsection (7A) that the amount of the gross value of production of the horticultural industry for the financial year is equal to the amount of the gross value of production of the horticultural industry determined under subsection (7A) for the previous financial year.
 (7C) A determination made under subsection (7A) is not a legislative instrument.
 (7D) The regulations may provide for the way in which the Secretary is to determine the amount of the gross value of production of the horticultural industry for a financial year.