33Accounting records for deer levies

33 Accounting records for deer levies

(1) For paragraph 40 (1) (a) of the Act, the Corporation must keep separate accounting records of the funding of R & D activities in relation to the deer industry. (2) For paragraph 40 (1) (b) of the Act, the following amounts must be credited in the accounting records kept under subregulation (1): (a) amounts of deer levies received by the Commonwealth under the Primary Industries Levies and Charges Collection Act 1991 and paid to the Corporation under paragraph 30 (1) (a) of the Act; and (b) amounts paid to the Corporation by the Commonwealth under paragraph 30 (1) (b) of the Act; and (c) amounts received by the Corporation as contributions to the cost of R & D activities in relation to the deer industry; and (d) amounts received by the Corporation: (i) from the sale of property paid for in connection with research and development relating to the deer industry; or (ii) from the sale of property produced, or from dealing with patents in respect of inventions made in connection with research and development relating to the deer industry; or (iii) in respect of work paid for in connection with research and development relating to the deer industry; and (e) amounts paid to the Corporation as interest on investment of an amount mentioned in any of paragraphs (a) to (d). (3) For paragraph 40 (1) (b) of the Act, all amounts specified in section 33 of the Act that are required to be paid by the Corporation in relation to the deer industry must be debited in the accounting records kept under subregulation (1). (4) For subsection 40 (2) of the Act, the only R & D activities on which amounts credited under subregulation (2) can be spent are R & D activities in relation to the deer industry.

Note: Regulation numbers 34 to 60 intentionally not used.