105Subsection 30A(4)

105  Subsection 30A(4)

 (4) In this section:

final Commonwealth GVP, in relation to a financial year, means the amount that the Minister determines to be the amount of the gross value of production for that financial year of the goods that are the produce of that part of the fishing industry that is managed by or on behalf of the Commonwealth.

final State or Territory GVP, in relation to a financial year and in relation to a State or Territory, means the amount that the Minister determines to be the amount of the gross value of production for that financial year of the goods that are the produce of that part of the fishing industry that is managed by or on behalf of the State or Territory.

final total GVP, in relation to a financial year, means the amount that the Minister determines to be the amount of the gross value of production for that financial year of the goods that are the produce of all parts of the fishing industry, whether managed by or on behalf of the Commonwealth, a State or a Territory.

interim Commonwealth GVP, in relation to a financial year, means the final Commonwealth GVP for the previous financial year.

interim State or Territory GVP, in relation to a financial year and in relation to a State or Territory, means the final State or Territory GVP for the previous financial year for the State or Territory.

interim total GVP, in relation to a financial year, means the final total GVP for the previous financial year.

106  Section 32 (heading)

32  Retention limit for Commonwealth’s matching payments

107  Subsection 32(1)

 (1) For the purposes of this section, gross value of production, in relation to a levy for a financial year, means the gross value of production, for that financial year, of the goods that are the produce of the primary industry, or class of primary industries, to which the levy relates.

 (1A) If:

 (a) a levy is attached an R&D Corporation; and

 (b) before the end of 31 October next following a financial year, the Minister determines the amount of the gross value of production in relation to the levy for the financial year; and

 (c) as at the end of 31 October next following the financial year, the sum of the amounts that were paid to the Corporation during the financial year under paragraph 30(1)(b) exceeds 0.5% of the amount of the gross value of production in relation to the levy for the financial year as determined by the Minister;

the Corporation must pay to the Commonwealth an amount equal to the excess.

 (1B) If:

 (a) before the end of 31 October next following a financial year, the Minister has not determined under subsection (1A) the amount of the gross value of production in relation to a levy for the financial year; and