CTHRepealedAct
Dairy Produce Act 1986
18Units in payment rights
Start here
Get a plain-English read of 18
Turn the raw legal text into a practical explanation grounded in Dairy Produce Act 1986.
#### 18 Units in payment rights
(1) This clause sets out policy objectives for the DSAP scheme.
(2) The first objective is that each payment right is to be divided into units, where each unit has a face value of $32.
(3) The second objective is that the number of units into which a payment right is divided is to be worked out as follows:
(a) divide the number of dollars in the face value of the payment right by 32;
(b) if the result of the division is a whole number—that number is the number of units in the payment right;
(c) if the result of the division is less than 1—there is 1 unit in the payment right;
(d) if the result of the division is greater than 1, but is not a whole number:
(i) round the result of the division up or down to the nearest whole number (rounding up in the case exactly half‑way between 2 whole numbers); and
(ii) the rounded number is the number of units in the payment right.