42Accounting records for ginger levy

42 Accounting records for ginger levy

(1) For paragraph 40 (1) (a) of the PIRD Act, the Corporation must keep separate accounting records of the funding of R & D activities for the ginger industry. (2) For paragraph 40 (1) (b) of the PIRD Act, the following amounts must be credited in the accounting records: (a) amounts of ginger levy received by the Commonwealth under the Collection Act and paid to the Corporation under paragraph 30 (1) (a) of the PIRD Act; (b) amounts paid to the Corporation by the Commonwealth under paragraph 30 (1) (b) of the PIRD Act; (c) amounts received by the Corporation as contributions to the cost of R & D activities for the ginger industry; (d) amounts received by the Corporation: (i) from the sale of property paid for in relation to research and development for the ginger industry; or (ii) from the sale of property produced in relation to research and development for the ginger industry; or (iii) from dealing with patents for inventions made in relation to, or intellectual property resulting from, research and development for the ginger industry; or (iv) for work paid for in relation to research and development for the ginger industry; (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 PIRD Act, all amounts spent under section 33 of the PIRD Act for the ginger industry must be debited in the accounting records. (4) For subsection 40 (2) of the PIRD Act, amounts credited in the accounting records under subregulation (2) may be spent only on R & D activities for the ginger industry.