Division Div 4 - Dairy Structural Adjustment Program Scheme 2000 - 2 Adjustment of face value

Div 42 Adjustment of face value

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Division 4.2 Adjustment of face value

28 $350 000 cap

(1) The total face value of payment rights granted to an entity in respect of a particular dairy farm enterprise must not be more than $350 000 unless a qualified financial adviser certifies in writing that, to the best of the adviser’s knowledge and belief:

(a) the entity has given the adviser full access to the entity’s accounts and records; and

(b) the entity passes the 70% dairy income test.

(2) For this section, an entity passes the 70% dairy income test if, and only if:

(a) more than 70% of the total gross income derived by the entity in the base year consisted of eligible dairy income; or

(b) more than 70% of the total gross income derived by the entity in the period from 1 July 1996 to 30 June 1999 (both inclusive) consisted of eligible dairy income.

(3) A certification under subsection (1) must be in an approved form.

(4) In this section:

eligible dairy company means:

(a) Alba Cheese Manufacturing Pty Ltd; or

(b) Alba Gelati Pty Ltd; or

(d) Ashgrove Farms Pty Ltd; or

(e) B‑d Farm Paris Creek Pty Ltd; or

(f) Borello Cheese Pty Ltd; or

(g) Cadbury Schweppes Pty Ltd; or

(h) Casa Dairy Products P/L; or

(i) Caveland Country Pty Ltd; or

(j) De Cicco Industries P/L; or

(k) Donnybrook Farmhouse Cheese; or

(l) Elgaar Farm (Gretschmann); or

(m) European Cakes and Gelati; or

(n) Farmhouse Cheeses of Kangaroo Island; or

(o) Ferraro Dairy Foods; or

(p) Floridia Cheese (T & A Montallto); or

(q) Fonti Dairy Foods Pty Ltd; or

(r) Fresh Cheese Supply Group; or

(s) Harvey Fresh Dairies; or

(t) Healey’s Pyengana Cheese Factory; or

(u) Heidi Farm Cheese (Marchand F & E); or

(v) Hillwood Cheeses; or

(w) Jalna Dairy Foods Pty Ltd; or

(x) Jindi Cheese; or

(y) Kimberley Milk; or

(z) King Island Dairies Pty Ltd; or

(aa) King Island Fresh Milk Products; or

(ab) King Island Milk Supply; or

(ac) Kraft Foods Ltd; or

(ad) Lacrum Cheese P/L; or

(ae) Lactos P/L; or

(af) Lemnos Cheese Pty Ltd; or

(ag) Malanda Dairyfoods Limited; or