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Bounty (Steel Mill Products) Act 1983 No. 125 of 1983 - SECT 10

Limit of available bounty

10. (1) Subject to sub-section (2), the amounts available for payment of
bounty in respect of a bounty period are-

   (a)  in respect of bountiable plate-$600,000;

   (b)  in respect of bountiable sheet-$40,000,000;

   (c)  in respect of bountiable tube-$22,000,000.

(2) The regulations may prescribe a factor for the purposes of paragraph (1)
(a), (b) or (c) in respect of a bounty period, and, where a factor is so
prescribed, then, for the purpose of ascertaining the amount available for
payment of bounty in respect of bountiable products in relation to which that
paragraph is applicable and in respect of which bounty becomes payable during
that bounty period, the amount specified in that paragraph, shall be
multiplied by that factor.

(3) Where the amount available for payment of bounty in respect of
bountiable plate, bountiable sheet or bountiable tube in respect of which
bounty becomes payable during a bounty period is insufficient for the payment
in full of all valid claims in respect of that bountiable plate, bountiable
sheet or bountiable tube, as the case may be, the bounty otherwise payable in
respect of each of those claims shall be reduced to an amount that bears the
same proportion to the amount of the claim as the amount so available bears to
the total amount of all those claims.

(4) If the Comptroller-General is of the opinion that the amount available for
payment of bounty in respect of bountiable plate, bountiable sheet or
bountiable tube in respect of which bounty will become payable during a bounty
period will be insufficient for the payment in full of all valid claims in
respect of that bountiable plate, bountiable sheet or bountiable tube, as the
case may be, he may withhold payment of the whole or any part of the bounty
otherwise payable upon such a claim until he has ascertained the total amount
of all those claims. 


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