Commonwealth Numbered Acts

BOUNTY AND SUBSIDY LEGISLATION AMENDMENT ACT 1987 No. 54 of 1987 - SECT 15

15. After section 3 of the Principal Act the following section is inserted:
Increased factory cost

"3AA. Where the last condition for the payment of bounty in respect of
bountiable yarn (in this section called the 'eligible yarn') of a kind
referred to in a paragraph of the definition of 'bountiable yarn' in
subsection 2 (1) is satisfied on or after 1 July 1987 and in a qualifying
accounting period of a producer of the eligible yarn, the factory cost in
connection with the process or processes carried out by that producer in the
production of the eligible yarn is increased by an amount ascertained in
accordance with the formula:
FCY X 3 X FCE
            ---   --

            FCD   10
where:
FCY is the factory cost in connection with the process or processes carried
out by that producer in that qualifying accounting period in the production of
the eligible yarn (being that cost before its increase under this section);
FCD is the factory cost in connection with the process or processes carried
out by that producer in that qualifying accounting period in the production of
the eligible yarn and other bountiable yarn of the same kind as the eligible
yarn used, or sold or otherwise disposed of for use, in the production of
prescribed textiles in a registered textile factory; and
FCE is the factory cost in connection with the process or processes carried
out by that producer in that qualifying accounting period in the production of
bountiable yarn of the same kind as the eligible yarn sold, or otherwise
disposed of, for export from Australia.".