86Nominal funding entitlement certificate

#### 86 Nominal funding entitlement certificate Funding financial year (1) For the purposes of this section, funding financial year means: (a) the second eligible financial year; or (b) a later eligible financial year. Issue of certificate (2) If a carrier is an eligible funding recipient at the start of 1 February in a funding financial year, the Secretary must: (a) issue to the carrier a certificate stating that a specified amount is the nominal funding entitlement of the carrier for the funding financial year; and (b) do so: (i) by the end of 31 March in the funding financial year; and (ii) if the carrier has applied under subsection 98(1) for a charge offset certificate in relation to the previous financial year—before making a decision in response to the application. (3) A certificate issued under subsection (1) is to be known as a nominal funding entitlement certificate. Estimated balance of Regional Broadband Scheme Special Account (4) The following provisions have effect in relation to the issue of nominal funding entitlement certificates in relation to a funding financial year: (a) before issuing those certificates, the Secretary must make an estimate of so much of the balance of the Regional Broadband Scheme Special Account as at 7 May in the funding financial year as is attributable to amounts paid to the Commonwealth by way of: (i) so much of an amount of charge as is attributable to the annual base amount for a financial year; or (ii) a base instalment of charge; and (b) in issuing those certificates, the Secretary must have regard to that estimate. Payments to holder of certificate (5) If: (a) a carrier is an eligible funding recipient; and (b) the carrier is the holder of a nominal funding entitlement certificate in relation to a funding financial year; the Secretary must take all reasonable steps to ensure that the total of: (c) the amounts that have, or will, become due and payable by the Commonwealth to the carrier under section 80 contracts during the funding financial year; and (d) the section 80 grants that were, or will be, made to the carrier during the funding financial year; equals whichever of the following amounts is applicable: (e) if the carrier holds a charge offset certificate for the previous financial year—the nominal funding entitlement of the carrier for the funding financial year, reduced by the amount specified in the charge offset certificate; (f) if the carrier does not hold a charge offset certificate for the previous financial year—the nominal funding entitlement of the carrier for the funding financial year. Copy of certificate to be given to the ACMA (6) If the Secretary issues a nominal funding entitlement certificate, the Secretary must give a copy of the certificate to the ACMA. Publication of certificate (7) If the Secretary issues a nominal funding entitlement certificate, the Secretary must publish a copy of the certificate on the Department’s website. Certificate cannot be transferred (8) A nominal funding entitlement certificate cannot be transferred.