CUSTOMS REGULATIONS (REPEALED)

REGULATION 183   MATTERS TO WHICH THE MINISTER MUST HAVE REGARD (SUBSECTION 269TAC(5E) OF THE ACT)  

183(1)   [Definition]  

In this regulation:

entity
, in relation to goods, means each of:

(a) the exporter of the exported goods mentioned in subsection 269TAC(5D) of the Act; and

(b) if the exporter of the goods is not the producer of the goods, but the goods are produced in the country of export - the producer of the goods.

government
, of a country, means any level of government of the country.

183(2)   [Prescribed matters]  

For subsection 269TAC (5E) of the Act, the following matters are prescribed:

(a) whether the entity makes decisions about prices, costs, inputs, sales and investments:

(i) in response to market signals; and

(ii) without significant interference by a government of the country of export;

(b) whether the entity keeps accounting records in accordance with generally accepted accounting standards in the country of export;

(c) whether the generally accepted accounting standards in the country of export are in line with international accounting standards developed by the International Accounting Standards Board;

Note

International accounting standards developed by the International Accounting Standards Board can be found on the International Accounting Standards Board website at http://www.iasc.org.uk/cmt/0001.asp .

(d) whether the accounting records mentioned in paragraph (b) are independently audited;

(e) whether the entity's production costs or financial situation are significantly affected by the influence that a government of the country of export had on the domestic price of goods in the country before the country's economy was an economy in transition;

(f) whether the country of export has laws relating to bankruptcy and property;

(g) whether the entity is subject to the bankruptcy and property laws mentioned in paragraph (f);

(h) whether the entity is part of a market or sector in which the presence of an enterprise owned by a government of the country of export prevents market conditions from prevailing in that market or sector;

(i) whether utilities are supplied to the entity under contracts that reflect commercial terms and prices that are generally available throughout the economy of the country of export;

(j) if the land on which the entity's facilities are built is owned by a government of the country of export - whether the conditions of rent are comparable to those in a market economy;

(k) whether the entity has the right to hire and dismiss employees and to fix the salaries of employees.

183(3)   [Whether there is significant interference]  

In assessing whether there is significant interference for subparagraph (2)(a)(ii), the Minister must have regard to the following:

(a) whether a genuinely private company or party holds the majority shareholding in the entity;

(b) if officials of a government of the country of export hold positions on the board of the entity - whether these officials are a minority of the members of the board;

(c) if officials of a government of the country of export hold significant management positions within the entity - whether these officials are a minority of the persons holding significant management positions;

(d) whether the entity's ability to carry on business activities in the country of export is affected by:

(i) a restriction on selling in the domestic market; or

(ii) the potential for the right to do business being withdrawn other than under contractual terms; or

(iii) if the entity is a joint-venture in which one of the parties is a foreign person, or is carried on in the form of such a joint-venture - the ability of the foreign person to export profits and repatriate capital invested;

(e) whether the entity's significant production inputs (including raw materials, labour, energy and technology) are supplied:

(i) by enterprises that are owned or controlled by a government of the country of export; and

(ii) at prices that do not substantially reflect conditions found in a market economy.