21JRecipients of capitalisation grants not entitled to bounty

21J Recipients of capitalisation grants not entitled to bounty

(1) Where an applicant is offered a capitalisation grant, that person is, subject to the operation of subsection (2), not entitled to a payment of bounty in respect of any bountiable yarn the production of which was completed by that person on or after the day on which the grant is made. (2) Where an applicant who is offered a capitalisation grant refuses or fails, within the period specified by the Minister, to enter into a capitalisation agreement, subsection (1) is to be taken never to have come into effect.