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Textile, Clothing and Footwear Strategic Investment Program Bill 1999

Part 1 Introduction

   

1   Short title

                   This Act may be cited as the Textile, Clothing and Footwear Strategic Investment Program Act 1999 .

2   Commencement

                   This Act commences on the day on which it receives the Royal Assent.

3   Simplified outline

                   The following is a simplified outline of this Act:

•      This Act provides a framework for the implementation of the Textile, Clothing and Footwear Strategic Investment Program.

•      The Minister is required to formulate a scheme (the TCF (SIP) scheme ) for the making of grants and/or loans in connection with the design and manufacture, in Australia, of eligible TCF products.

•      The total of the grants paid, and loans made, under the TCF (SIP) scheme must not exceed $700 million, reduced by any Regional Assistance Program supplementation payments.

•      The TCF (SIP) scheme will provide for 5 types of grants, to be known as follows:

               (a)     grants in respect of new TCF plant/building expenditure;

               (b)     grants in respect of TCF research and development expenditure;

               (c)     grants in respect of TCF value-adding;

               (d)     special grants in respect of second-hand TCF plant expenditure;

               (e)     special miscellaneous grants in respect of TCF-dependent communities.

•      The TCF (SIP) scheme will run for 5 financial years, beginning with the 2000-2001 year. However, grants in respect of new TCF plant/building expenditure may be made for the 1998-1999 and 1999-2000 years, and special grants may be made for the 1999-2000 year.

•     Grants under the TCF (SIP) scheme are to be made in arrears.

•      Entities who wish to obtain grants under the TCF (SIP) scheme may be required to register under the scheme and to submit strategic business plans and accounts.

4   Definitions

                   In this Act:

Australia , when used in a geographical sense, includes all the external Territories.

bounty means bounty to which paragraph 51(iii) of the Constitution applies.

claim means a claim for a grant.

designated industry program means a program or scheme that is:

                     (a)  administered by the Commonwealth; and

                     (b)  specified in the regulations.

entity has the same meaning as in the Income Tax Assessment Act 1997 .

grant means a grant under the TCF (SIP) scheme.

importation into Australia has the same meaning as in section 50 of the Customs Act 1901 .

income year has the same meaning as in the Income Tax Assessment Act 1997 .

loan means a loan under the TCF (SIP) scheme.

manufacture includes make a physical or chemical transformation or conversion.

scheme debt means:

                     (a)  so much of an amount paid, or purportedly paid, to an entity by way of a grant as represents an overpayment; or

                     (b)  an amount due and payable by an entity to the Commonwealth under a loan; or

                     (c)  an amount that is payable as mentioned in subsection 20(2) (which deals with advances); or

                     (d)  an amount that is repayable as mentioned in section 43 (which deals with conditional grants).

Secretary means the Secretary to the Department.

strategic business plan means a strategic business plan that incorporates a strategic investment plan.

TCF (SIP) scheme means the scheme in force under section 8.

5   Continuity of partnerships

                   For the purposes of this Act, a change in the composition of a partnership does not affect the continuity of the partnership.

6   Crown to be bound

             (1)  This Act binds the Crown in each of its capacities.

             (2)  This Act does not make the Crown liable to be prosecuted for an offence.

7   External Territories

                   This Act extends to all the external Territories.