74AUse and expiry of duty credits

#### 74A Use and expiry of duty credits (1) Duty credits issued in respect of an ACIS Stage may be applied: (a) to the importation of eligible imports; or (b) against customs duty a person has already paid if the duty was paid in respect of the importation, on or after 1 January 2001, of eligible imports. > Note 1: Duty credits may also be transferred. See section 75. > Note 2: The purpose of applying duty credit as provided for in paragraph (1)(b) is to get a refund (equal to the amount of duty credit applied) of duty that has already been paid. For provisions about refunds, see the regulations made for the purposes of section 163 of the Customs Act 1901. (2) Duty credits issued in respect of a particular ACIS Stage may only be applied as provided for in subsection (1): (a) during that particular stage; or (b) on or before 31 December of the calendar year next following the stage. (3) Duty credit issued in respect of a particular ACIS Stage expires if the duty credit has not been applied as provided for in subsection (1): (a) during the particular stage; or (b) on or before 31 December of the calendar year next following the stage.