Document ID: chunk:federal_register_of_legislation:F2018L01065:schedule:3:p24
Version: federal_register_of_legislation:F2018L01065
Segment Type: schedule
Provision Reference: sch 3 (pt 24/36)
Character Range: 63630–66429

the eligibility deadline, secure initial eligibility points by:
(a)      making an eligibility payment of an amount to the ACMA on behalf of the Commonwealth; or
(b)      giving the ACMA on behalf of the Commonwealth a deed of financial security, which has been completed in the approved form and executed, for an amount; or
(c)      making an eligibility payment of part of an amount and giving a deed of financial security for the remainder.
          Note: For information on how an eligibility payment is made, see section 9. For information on how a deed of financial security is given, see section 7 and subsections (7), (8) and (9).
 (2) The amount required to secure the initial eligibility points specified by the applicant in its completed eligibility nomination form is calculated by multiplying the specified number of initial eligibility points by the dollar value of initial eligibility points set by the ACMA under paragraph 28(1)(a).
 (3) If an applicant makes an eligibility payment or gives a deed of financial security (or both) for an amount less than the amount under subsection (2), the ACMA must, in writing, notify the applicant that:
         (a)      the applicant has made an eligibility payment or given a deed of financial security (or both), whichever the case may be, for less than the amount under subsection (2); and
         (b)      the applicant must, before the eligibility deadline or no later than 3 working days after the date of the notice (whichever is the later), make an eligibility payment or give a deed of financial security (or both) for the remainder of the amount under subsection (2).
       (4)If the applicant does not comply with the notice given under subsection (3):
         (a)      subject to paragraph (c), the number of initial eligibility points secured by the applicant is calculated by dividing the amount paid or secured by deed by the dollar value of initial eligibility points set by the ACMA under paragraph 28(1)(a), and rounding down to the nearest whole point or zero if there is no remaining whole point; and
         (b)      the start demands of the applicant are reduced commencing with a lot or lots of a product with the lowest lot rating being removed from the applicant's start demands until the sum of the lot ratings for the remaining start demands of the applicant is not greater than the initial eligibility points secured by the applicant calculated under paragraph (a); and
         (c)      if, after the steps in paragraphs (a) and (b) are taken, the difference between:
            (i)            the initial eligibility points secured by the applicant (the provisional secured points); and
            (ii)         the sum of the lot ratings for the number of lots of each product for which the applicant has a