Commonwealth Consolidated Acts

EXPORT MARKET DEVELOPMENT GRANTS ACT 1997 - SECT 7

Person other than approved joint venture, approved trading house or trustee

             (1)  A person referred to in subsection 6(1) (other than an approved joint venture, an approved trading house or a person acting in the capacity of trustee of a trust estate) is eligible for a grant in respect of a grant year if the following conditions are satisfied:

                     (a)  the person was, in the opinion of the CEO of Austrade, genuinely carrying on business in Australia during the grant year;

                     (b)  in the case of an individual, he or she was a resident of Australia during the time in the grant year when he or she was, in the CEO's opinion, carrying on business in Australia;

                     (c)  the person is not a grantee in respect of 8 or more previous grant years;

                     (d)  the person's income for the grant year is not more than $50,000,000;

                     (g)  there are no disqualifying convictions outstanding against the person under section 17 when the person applies for the grant;

                     (h)  if Division 5 applies to the person--the CEO has decided under section 20 that the person met the grants entry requirements;

                      (i)  if:

                              (i)  the person is a grantee in respect of 2 or more previous grant years; and

                             (ii)  the person's application for a grant in respect of the grant year sets out a statement that the person chooses grants option B in relation to the grant year;

                            the CEO has decided under section 9 that the person meets the Australian net benefit requirements in relation to the grant year.

Note:          For person , grant , grant year , CEO of Austrade , resident of Australia , grantee , income , related company , associate , Australian net benefit requirements and grants entry requirements see section 107.

Approved joint venture

             (2)  An approved joint venture is eligible for a grant in respect of a grant year if it satisfies the following conditions:

                     (a)  it is not a grantee in respect of 5 or more previous grant years;

                     (d)  there are no disqualifying convictions outstanding against the joint venture under section 17 when the joint venture applies for the grant;

                     (e)  if:

                              (i)  the joint venture is a grantee in respect of 2 or more previous grant years; and

                             (ii)  the joint venture's application for a grant in respect of the grant year sets out a statement that the joint venture chooses grants option B in relation to the grant year;

                            the CEO has decided under section 9 that the joint venture meets the Australian net benefit requirements in relation to the grant year.

Note:          For approved joint venture , Australian net benefit requirements , grant , grant year and grantee see section 107.

Approved trading house

             (3)  An approved trading house is eligible for a grant in respect of a grant year if there are no disqualifying convictions outstanding against the trading house under section 17 when the trading house applies for the grant.

Note:          For approved trading house , grant and grant year see section 107.

Trustees

             (4)  A person acting as trustee of a trust estate is eligible for a grant in respect of a grant year if the following conditions are satisfied:

                    (aa)  the person was, in the opinion of the CEO of Austrade, genuinely carrying on business in Australia during the grant year as trustee of the trust estate;

                     (a)  the person provides to the CEO, on request, the following information:

                              (i)  a declaration of beneficial and ultimate control of the trust estate, including by trustees; and

                             (ii)  a declaration of the identities of the beneficiaries of the trust estate, including in the case of individuals, their countries of residence and, in the case of beneficiaries which are not individuals, their countries of incorporation or registration, as the case may be; and

                            (iii)  details of any relationships with other entities; and

                            (iv)  the percentage distribution of income within the trust; and

                             (v)  any changes during the grant year in relation to information provided under subparagraphs (i), (ii), (iii) or (iv);

                     (b)  the person is not a grantee in respect of 8 or more previous grant years;

                     (c)  the income of the person from the trust business during the grant year is not more than $50,000,000;

                     (g)  there are no disqualifying convictions outstanding against either the person or any beneficiary of the trust estate under section 17 when the person applies for the grant;

                     (h)  if Division 5 applies to the person (as trustee of the trust estate)--the CEO has decided under section 20 that the person (in that capacity) met the grants entry requirements;

                      (i)  if:

                              (i)  the person is a grantee in respect of 2 or more previous grant years; and

                             (ii)  the application made by the person (as trustee of the trust estate) for a grant in respect of the grant year sets out a statement that the person chooses (in that capacity) grants option B in relation to the grant year;

                            the CEO has decided under section 9 that the person (in that capacity) meets the Australian net benefit requirements in relation to the grant year.

Note:          For person , grant year , CEO of Austrade , grantee , income , associate , Australian net benefit requirements and grants entry requirements see section 107.