Commonwealth Numbered Acts

BOUNTY AND SUBSIDY LEGISLATION AMENDMENT ACT 1986 No. 37 of 1986 - SECT 15

15. Section 9 of the Principal Act is repealed and the following sections are
substituted: Limit of available bounty-bountiable bar products

"9. (1) Subject to sub-section (2), the amount available for payment of bounty
in respect of bountiable bar products in respect of a bounty period is
$3,280,000.

"(2) The regulations may prescribe a factor for the purposes of this section
in respect of a bounty period and, where a factor is so prescribed, then, for
the purpose of calculating the amount available for payment of bounty in
respect of bountiable bar products in respect of which bounty becomes payable
during that bounty period, the amount specified in sub-section (1) shall be
multiplied by that factor.

"(3) Where the amount available for payment of bounty in respect of bountiable
bar products in respect of which bounty becomes payable during a bounty period
is insufficient for the payment in full of all valid claims in respect of
those products, the bounty otherwise payable in respect of each of those
claims shall be reduced to an amount that bears the same proportion to the
amount of the claim as the amount so available bears to the total amount of
all those claims.

"(4) If the Comptroller-General is of the opinion that the amount available
for payment of bounty in respect of bountiable bar products in respect of
which bounty will become payable during a bounty period will be insufficient
for the payment in full of all valid claims in respect of those products, the
Comptroller-General may withhold payment of the whole or any part of the
bounty otherwise payable upon such a claim until the Comptroller-General has
ascertained the total amount of all those claims. Limit of available
bounty-bountiable flat products

"9A. (1) Subject to sub-section (2), the amount available for payment of
bounty in respect of bountiable flat products in respect of a bounty period is
$5,720,000.

"(2) The regulations may prescribe a factor for the purposes of this section
in respect of a bounty period and, where a factor is so prescribed, then, for
the purpose of calculating the amount available for payment of bounty in
respect of bountiable flat products in respect of which bounty becomes payable
during that bounty period, the amount specified in sub-section (1) shall be
multiplied by that factor.

"(3) Where the amount available for payment of bounty in respect of bountiable
flat products in respect of which bounty becomes payable during a bounty
period is insufficient for the payment in full of all valid claims in respect
of those products, the bounty otherwise payable in respect of each of those
claims shall be reduced to an amount that bears the same proportion to the
amount of the claim as the amount so available bears to the total amount of
all those claims.

"(4) If the Comptroller-General is of the opinion that the amount available
for payment of bounty in respect of bountiable flat products in respect of
which bounty will become payable during a bounty period will be insufficient
for the payment in full of all valid claims in respect of those products, the
Comptroller-General may withhold payment of the whole or any part of the
bounty otherwise payable upon such a claim until the Comptroller-General has
ascertained the total amount of all those claims.".