Commonwealth Numbered Acts

EXPORT MARKET DEVELOPMENT GRANTS ACT 1997 No. 57 of 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 Austrade's opinion, 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 Austrade's
        opinion, carrying on business in Australia;

   (c)  subject to section 8, 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;

   (e)  the person's export earnings for the grant year (together with, in the
        case of a body corporate, the export earnings for the grant year of
        each related company (if any) that applies for a grant in respect of
        the grant year), are not more than $25,000,000;

   (f)  the person is not, when the person applies for the grant, disqualified
        under section 13 from receiving a grant because the person, or an
        associate of the person, is under insolvency administration;

   (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 person has been registered
        under section 19 and has passed the grants entry test. Note: For
        person, grant, grant year, Austrade, resident of Australia, grantee,
        income, export earnings, related company, associate, under insolvency
        administration and grants entry test 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;

   (b)  its export earnings for the grant year are not more than $25,000,000;

   (c)  no associate of the joint venture is under insolvency administration
        when the joint venture applies for the grant;

   (d)  there are no disqualifying convictions outstanding against the joint
        venture under section 17 when the joint venture applies for the grant.
        Note: For approved joint venture, grant, grant year, Austrade,
        grantee, export earnings, associate and under insolvency
        administration see section 107.

Approved trading house

(3) An approved trading house is eligible for a grant in respect of a grant
year if:

   (a)  neither the trading house nor any associate of the trading house is
        under insolvency administration when the trading house applies for the
        grant; and

   (b)  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:

   (a)  the person provides to Austrade, 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)  subject to section 8, the person is not a grantee in respect of 8 or
        more previous years;

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

   (d)  the export earnings of the person during the grant year are not more
        than $25,000,000; Note: Section 10 provides that only earnings from
        the trust business are to be taken into account.

   (e)  neither the person, nor (in the case of a company) any of its
        directors, is under insolvency administration when the person applies
        for the grant;

   (f)  none of the beneficiaries of the trust estate, nor (in the case of a
        beneficiary other than an individual) any associate of the
        beneficiary, is under insolvency administration when the person
        applies for the grant;

   (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-the person (in the capacity of
        trustee for the trust estate) has been registered under section 19 and
        has passed the grants entry test. Note: For person, grant year,
        Austrade, grantee, income, export earnings, associate under insolvency
        administration and grants entry test see section 107.