Commonwealth Numbered Acts

STATUTE LAW (MISCELLANEOUS AMENDMENTS) ACT (No. 2) 1982 No. 80, 1982 - SECT 149

149. (1) Section 25 of the Principal Act is amended by omitting sub-sections
(2) and (3) and substituting the following sub-sections:

''(2) An eligible company is not entitled to a commencement grant in respect
of any grant year subsequent to the fourth consecutive grant year after the
grant year in respect of which it first applies for a commencement grant.

''(3) An eligible company is not entitled to a commencement grant in respect
of the first grant year in respect of which it applies for a commencement
grant if the sum of-

   (a)  the number of grants of financial assistance (if any) received by the
        eligible company under the previous Act;

   (b)  the number of grants of financial assistance (if any) received under
        the previous Act by any company that, by virtue of section 5, is
        deemed to be, or to have been, related to the eligible company at any
        time during the grant year; and

   (c)  the number of commencement grants (if any) to which any company that,
        by virtue of section 5, is deemed to be, or to have been, related to
        the eligible company at any time during the grant year has become or,
        in the opinion of the Board, will become entitled, is or exceeds 5.

''(4) An eligible company is not entitled to a commencement grant in respect
of a grant year (in this sub-section referred to as the 'current grant year')
subsequent to the first grant year in respect of which it applied for a
commencement grant if the sum of-

   (a)  the number of grants of financial assistance (if any) received by the
        eligible company under the previous Act;

   (b)  the number of grants of financial assistance (if any) received under
        the previous Act by any company that, by virtue of section 5, is
        deemed to be, or to have been, related to the eligible company at any
        time during the current grant year;

   (c)  the number of commencement grants (if any) to which any company that,
        by virtue of section 5, is deemed to be, or to have been, related to
        the eligible company at any time during the current grant year has
        become or, in the opinion of the Board, will become entitled; and

   (d)  the number of grant years from and including the first grant year in
        respect of which the eligible company applied for a commencement grant
        (but not including the current grant year), is or exceeds 5.

''(5) A reference in this section to a grant received by a company that, by
virtue of section 5, is deemed to be, or to have been, related to an eligible
company at any time during a grant year is a reference to a grant received by
such a company in respect of any grant year, whether or not the company was or
would have been deemed, by virtue of section 5, to have been related to the
eligible company at any time during that last-mentioned grant year.''.

(2) The amendment made by sub-section (1) does not operate to deprive a
company of any entitlement to a commencement grant in respect of a grant year
if an application for a commencement grant in respect of that grant year was
made on or before 17 August 1982.