21EMinister to consider report

21E Minister to consider report

(1) The Minister, after considering a report provided to the Minister by the Authority, must, by notice in writing given to the applicant, inform the applicant: (a) that the Minister is prepared to make a capitalisation grant to the applicant of a specified amount, being an amount equal to or less than the amount sought in the application, on a specified day, on condition that the applicant enters, within a specified period ending before that specified day, into a capitalisation agreement with the Authority on behalf of the Commonwealth; or (b) that the Minister is not prepared to make a capitalisation grant to the applicant. (2) The day specified in a notice under subsection (1) is to be a day during the bounty period, being a day not earlier than the day the notice is given. (3) The Minister shall include in the notice to the applicant under subsection (1) a statement: (a) indicating the amount, if any, recommended to be granted in a recommendation under paragraph 21C(1)(a), (b) or (c); and (b) subject to subsection 21H(3), providing a broad statement of the reasons for the recommendation. (4) Where a person has been notified that the Minister is prepared to make a capitalisation grant on a particular day on condition that the person enters into a capitalisation agreement and the person enters into such an agreement in accordance with section 21F, the grant so notified is to be made to that person on that day. (5) An applicant who is informed in a notice under subsection 21E(1) that the Minister is prepared to make a capitalisation grant but who refuses or fails, within the specified period, to enter into a capitalisation agreement, shall be taken to have declined the grant.