Commonwealth Consolidated Acts

INDUSTRIAL CHEMICALS (NOTIFICATION AND ASSESSMENT) ACT 1989 - SECT 7A

             (1)  In this Act:

"biological material" does not include a whole plant or a whole animal.

"relevant industrial chemical" means an industrial chemical:

                     (a)  that is not intended for an excluded use; and

                     (b)  that is not:

                              (i)  a naturally-occurring chemical; or

                             (ii)  biological material; or

                            (iii)  an incidentally-produced chemical; or

                            (iv)  a reaction intermediate.

             (2)  The value of relevant industrial chemicals imported by a person during a particular period (whether a financial year or a registration year) is the amount, worked out to the nearest whole dollar, using the formula:

where:

"V" means the customs value (within the meaning of section 159 of the Customs Act 1901 ) of all of those relevant industrial chemicals.

"CIF" means the cost of the insurance and freight relating to those chemicals.

"CD" means the customs duty payable on those chemicals.