Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For subsection 32 (2) of the Act, the Minister must determine the gross value of production of cotton, for a financial year (the relevant financial year ), by using:
where:
"A" is the estimated value of cotton lint to be produced in the relevant financial year.
"B is the value of cotton lint produced in the financial year immediately before the relevant financial year (the previous financial year" ).
"C" is the value of cotton lint produced in the financial year immediately before the previous financial year.
(2) In subregulation (1), a reference to the value of cotton lint produced, or to the estimated value of cotton lint to be produced, in a financial year is a reference to the production figure supplied by the Australian Bureau of Agricultural and Resource Economics that shows:
(a) the gross value of cotton lint produced by the cotton industry in that financial year; or
(b) the estimated gross value of cotton lint to be produced by the cotton industry for that financial year.