Commonwealth Numbered Acts

EXPORT MARKET DEVELOPMENT GRANTS ACT 1997 No. 57 of 1997 - SECT 69

(1) For the purposes of subsection 67(3), Austrade must, in respect of each
grant year:

   (a)  work out in accordance with the regulations; and

   (b)  determine in writing; the payout factor that, in calculating the
        amount payable to each applicant:

   (c)  entitled to receive a grant in respect of that year; and

   (d)  whose provisional grant amount in respect of that year exceeds the
        initial payment ceiling amount for that year; is to be used to adjust
        the amount of the excess. Note: For provisional grant amount and
        initial payment ceiling amount see section 107.

(2) The determination must be made as soon as practicable after the balance
distribution date for the following year.

(3) The purpose, in applying the payout factor, is to ensure that the amount
of each grant payable in respect of the grant year is capped at the
appropriate level so that all payments of grant that become due in the year
following the grant year are able to be met from the money available for that
purpose.

(4) The regulations may prescribe the method for working out the factor that
will be the payout factor for a grant year.