Commonwealth Numbered Regulations

EXPORT MARKET DEVELOPMENT GRANTS REGULATIONS 1997 No. 195 - REG 3

3. For subsection 69 (1) of the Act, the payout factor is the lesser of 1 and
the amount worked out using the formula:

appropriation - (grants + administration costs)
grants assessed - ceiling amounts; where:
administration costs is the amount required for administration of the Act for
the following year;
appropriation is the amount mentioned for payments under the Act in an Act to
appropriate money out of the Consolidated Revenue Fund for the following year;
ceiling amounts is the sum of grants paid from 1 July in the following year to
the balance distribution date (inclusive) for applications made for the grant
year;
following year is the financial year after the grant year;
grants assessed is the sum of provisional grant amounts assessed in the
following year for applications made for the grant year;
grants paid is the amount paid for grants from 1 July in the financial year to
the balance distribution date (inclusive).