26Declaration of unused tariff rate quota entitlements

26 Declaration of unused tariff rate quota entitlements

(1) An exporter must, before the end of 15 February in a quota year, make a declaration stating: (a) how the exporter intends to deal with any tariff rate quota entitlements of the exporter for the quota year that will be unused at the end of 15 February in the quota year; and (b) the amount of any unused tariff rate quota entitlements of the exporter for the quota year that the exporter relinquishes. (2) The declaration must be made in writing and given to the Quota Unit. (3) If an exporter makes a declaration under paragraph (1)(b) in relation to a relinquished amount, the Secretary must cancel that amount. (4) If an exporter: (a) has any unused tariff rate quota entitlements for a quota year at the end of 15 February in the quota year; and (b) did not make a declaration in accordance with subsection (1) about the unused tariff rate quota entitlements; the exporter’s unused tariff rate quota entitlements lapse at the start of 16 February in the quota year. (5) The Secretary must cancel any unused tariff rate quota entitlement that lapses under subsection (4).