Regional Development Act 2004

This Act is the Regional Development Act 2004.

This Act commences on a day or days to be appointed by proclamation.

The object of this Act is to provide a framework for strategic intervention in the economies of regional New South Wales for the following purposes—

to promote economic and employment growth in regions in accordance with the principles of ecologically sustainable development,

to support sustainable economies, a healthy environment and resilient communities in regions,

to support place-based solutions, targeted to the development problems of particular locations and developed in collaboration with the local community, that promote improved economic, environmental and social outcomes in regions,

to assist communities in regions to capitalise on regional strengths by supporting the diversification, adaptation and resilience of regional economies, including in relation to established and emerging primary and other industries,

to support the transition of communities affected by economic, environmental and social change,

to facilitate the economic and social development of Aboriginal communities and Aboriginal enterprises in regions,

to encourage cooperation in relation to the matters in paragraphs (a)–(f) among all tiers of government, including local government, the private sector and not-for-profit organisations.

In this section—

principles of ecologically sustainable development means the principles set out in the Protection of the Environment Administration Act 1991, section 6(2).

In this Act—

accountable authority, for a GSF agency, has the same meaning as in the Government Sector Finance Act 2018.

Department means the department in which this Act is administered.

financial year means the year commencing 1 July 2004 and each following year commencing on 1 July.

Fund means the Regional Development Trust Fund established under section 11.

group means a group within the meaning of the Payroll Tax Act 2007.

GSF agency has the same meaning as in the Government Sector Finance Act 2018.

payroll tax means payroll tax payable under the Payroll Tax Act 2007, excluding additional tax and penal tax imposed by or under that Act.

region means any part of New South Wales (whether described in terms of a local government area or areas or in other terms), other than the Sydney metropolitan area.

Secretary means the Secretary of the Department.

Sydney metropolitan area means the area constituted by the local government areas prescribed by the regulations for the purposes of this definition.

Notes included in this Act do not form part of this Act.

The Minister may, on application made to the Minister or on the Minister’s own initiative, grant financial assistance to a person for a purpose that is consistent with one or more of the purposes specified in section 3.

An application for assistance is to be in the form approved by the Secretary and is to be accompanied by any additional documentation or other information that the Secretary may require.

In determining an application for financial assistance, the Minister may consider the likely economic impact on the region concerned of granting the assistance.

Subsection (3) does not limit the matters that may be considered by the Minister.

The Minister may, on application made to the Minister or at the Minister’s discretion, at any time withdraw or vary financial assistance granted under this Act.

Note—

The furnishing of false or misleading information in connection with an application or a false or misleading application is an offence under Part 5A of the Crimes Act 1900. The maximum penalty for such an offence is 2 years imprisonment or 200 penalty units, or both.

Financial assistance granted under section 5 may include the following—

grants,

subsidies,

loans,

payroll tax rebates,

other assistance determined by the Minister.

The Minister may, when granting financial assistance under this Act—

make the assistance subject to a security, or

impose conditions on the assistance.

Without limiting subsection (1), conditions may relate to the following—

meeting specified performance targets or outcomes,

obtaining specified investment levels,

repayment of assistance where specified performance targets or outcomes or investment levels are not met as required under a condition to which the grant is subject,

the periods for which, or the intervals at which, assistance is to be provided,

the payment of interest on the assistance.

A grant of financial assistance under this Act may be in the form of a rebate of payroll tax paid by an employer during a specified financial year or years.

The amount of the rebate is to be the amount calculated on a basis determined by the Minister.

The Minister may determine that the rebate is or is not payable in respect of specified employees of an employer.

An employer is not entitled to a rebate of payroll tax under this Act in respect of a financial year unless—

all payroll tax payable by the employer in respect of that year has been paid, and

if the employer has been a member of a group during the whole or any part of that year, all payroll tax payable by the other members of that group in respect of the period during which the employer was such a member has been paid.

For the purposes of this section, if payroll tax is paid by the members of a group in respect of a period, each member of that group is taken to have paid (or paid only) that part of the payroll tax that bears to the payroll tax the same proportion as the wages paid by that member in respect of that period bears to the total wages paid by the members of that group in respect of that period.

A person who receives financial assistance under this Act may be required by the Minister by notice in writing to repay the financial assistance if—

it was a condition of that assistance that it be repaid, or

a condition to which the assistance was subject has not been complied with, or

the Minister is of the opinion that the assistance was improperly obtained.

An amount of financial assistance required to be repaid under this section may be recovered by the Secretary in a court of competent jurisdiction as a debt due to the Crown.

In any proceedings instituted for the recovery of a debt due to the Crown under this section, a certificate of the Minister that a specified amount is the amount of the debt is evidence of that fact.

Nothing in this Act prevents the Minister from granting, or limits the granting of, other assistance for or with respect to regional development, whether or not such assistance could be granted under this Act.

There is to be established in the Special Deposits Account a Regional Development Trust Fund into which is to be paid—

all money appropriated by Parliament for the purposes of this Act, and

any gift or bequest of money for the purposes of the Fund, and

any fees or charges paid under the regulations, and

any financial assistance repaid under this Act, and

the proceeds of the investment of money in the Fund, and

money paid as the repayment of the principal or the payment of interest for loans paid out of the Fund, and

money directed by 1 of the following to be paid into the Fund—

a Minister,

a government agency,

a GSF agency,

an accountable authority for a GSF agency, and

money paid into the Fund by another person as a voluntary contribution, and

other money required by the regulations to be paid into the Fund, and

any other money required by law to be paid into the Fund.

There may be paid out of the Fund—

amounts of financial assistance under this Act, and

the costs of administering this Act, and

the amounts necessary for the procurement of goods and services that support one or more of the purposes specified in section 3, and

any other money payable by law out of the Fund.

The Minister may invest money in the Fund in any way the Department is permitted to invest money under the Government Sector Finance Act 2018, Part 6.

The Minister must make the following as soon as practicable after the commencement of this section—

a governance framework to guide the effective and transparent administration of this Act,

an investment strategy to guide grants of financial assistance from the Fund and other payments out of the Fund (the investment strategy).

The investment strategy must contain information about the following—

the key focus areas for investment,

the principles that guide investment in the focus areas,

the investment pathways relating to processes for delivering funding.

The Minister—

must review the investment strategy at least once every 2 years, and

may amend the investment strategy at any time.

The Minister must publish the governance framework and investment strategy on the Department’s website.