Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) In this Act:
"biological material" does not include a whole plant or a whole animal.
"relevant industrial chemical" means an industrial chemical:
(a) that is not intended for an excluded use; and
(b) that is not:
(i) a naturally‑occurring chemical; or
(ii) biological material; or
(iii) an incidentally‑produced chemical; or
(iv) a reaction intermediate.
(2) The value of relevant industrial chemicals imported by a person during a particular period (whether a financial year or a registration year) is the amount, worked out to the nearest whole dollar, using the formula:
where:
"V" means the customs value (within the meaning of section 159 of the Customs Act 1901 ) of all of those relevant industrial chemicals.
"CIF" means the cost of the insurance and freight relating to those chemicals.
"CD" means the customs duty payable on those chemicals.
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