Textile, Clothing and Footwear Strategic Investment Program Amendment Act 2004 (Cth)

Textile, Clothing and Footwear Strategic Investment Program Amendment Act 2004

No. 36, 2004

An Act to amend the Textile, Clothing and Footwear Strategic Investment Program Act 1999, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedule(s) 4 Application

Schedule 1—Amendments Textile, Clothing and Footwear Strategic Investment Program Act 1999

Textile, Clothing and Footwear Strategic Investment Program Amendment Act 2004

No. 36, 2004

An Act to amend the Textile, Clothing and Footwear Strategic Investment Program Act 1999, and for related purposes

[Assented to 20 April 2004]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Textile, Clothing and Footwear Strategic Investment Program Amendment Act 2004.

2 Commencement

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

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

4 Application

The amendments made by Schedule 1 to this Act apply in respect of grants made both before and after the commencement of this Act.

Schedule 1—Amendments

Textile, Clothing and Footwear Strategic Investment Program Act 1999

1 After paragraph 10(d) Insert: (da) section 14A (which provides an alternative cap for certain grants in respect of TCF value‑adding);

2 After section 14 Insert:

14A Alternative cap for certain grants in respect of TCF value‑adding

(1) This section sets out a policy objective for the TCF (SIP) Scheme that applies instead of the policy objective in section 14.

The objective

(2) The objective is that the total of the grants that are made to a section 14A entity in respect of activities that, under the scheme, are taken to be eligible activities carried on by the entity during the entity's 2003‑2004 income year or 2004‑2005 income year must not exceed the sum of: (a) the total grants in respect of new TCF plant/building expenditure made to the entity in respect of amounts that, under the scheme, are taken to be eligible expenditure incurred by the entity during that income year; and (b) the total grants in respect of TCF research and development expenditure made to the entity in respect of amounts that, under the scheme, are taken to be eligible expenditure incurred by the entity during that income year; and (c) the total special grants in respect of second‑hand TCF plant expenditure made to the entity in respect of amounts that, under the scheme, are taken to be eligible expenditure incurred by the entity during that income year.