32BRetention limit for Commonwealth’s matching payments

32B Retention limit for Commonwealth’s matching payments

(1) For the purposes of this section, gross value of production, in relation to a financial year, means the gross value of production, for that financial year, of the goods that are produce of the grape industry and the wine industry. (2) If: (a) 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 financial year; and (b) as at the end of 31 October next following the financial year, the sum of the amounts that were paid to the Authority during the financial year under paragraph 32(ai) exceeds 0.5% of the amount of the gross value of production in relation to the financial year as determined by the Minister; the Authority must pay to the Commonwealth an amount equal to the excess. (3) If: (a) before the end of 31 October next following a financial year, the Minister has not determined under subsection (2) the amount of the gross value of production in relation to a financial year; and (b) the Minister has determined under subsection (2) the amount of the gross value of production in relation to the previous financial year; the Minister is taken to have made, immediately before the end of that 31 October, a determination under subsection (2) that the amount of the gross value of production in relation to the financial year is equal to the amount of the gross value of production determined under subsection (2) for the previous financial year. (4) The Minister may, on behalf of the Commonwealth, set off an amount payable by the Authority under subsection (2) against an amount that is payable to the Authority under paragraph 32(ai). (5) A determination made under subsection (2) is not a legislative instrument. (6) The regulations may provide for the manner in which the Minister is to determine the amount of the gross value of production for a financial year.

113 Section 33 (heading)

Omit “Corporation”, substitute “the Authority”.

114 Subsections 33(1) and (2)

Repeal the subsections.

115 Subsection 33(3)

Omit “Corporation”, substitute “Authority”.

116 Paragraph 33(4)(b)

Omit “Corporation’s”, substitute “general”.

117 Subsection 33(4)

Omit “Corporation”, substitute “Authority”.

118 At the end of section 33

Add:

(5) If: (a) a refund is made by the Commonwealth under section 18 of the Primary Industries Levies and Charges Collection Act 1991 in respect of an amount; and (b) the amount has been paid or overpaid to the Commonwealth by way of the research component of wine grapes levy; the Authority must pay to the Commonwealth an amount equal to the amount of the refund. (6) If: (a) a refund is made by the Commonwealth under section 18 of the Primary Industries Levies and Charges Collection Act 1991 in respect of an amount; and (b) the amount has been paid or overpaid to the Commonwealth by way of grapes research levy; the Authority must pay to the Commonwealth an amount equal to the amount of the refund.