51At the end of section 8

51  At the end of section 8

Add:

 (7) If:

 (a) an amount (the first amount) is payable by the industry services body under subsection (3); and

 (b) another amount (the second amount) is payable by the Commonwealth to the industry services body under the funding contract;

the Minister may, on behalf of the Commonwealth, set off the whole or a part of the first amount against the whole or a part of the second amount.

 (8) For the purposes of this section, net matching payments for a financial year means the total of the matching payments made to the industry services body during the financial year, less the amount payable by the industry services body under subsection (3) as a condition of those matching payments.