Amount per tonne: ilmenite feedstock not of marketable quality
28 Amount per tonne: ilmenite feedstock not of marketable quality
In this regulation —
F.O.B. export price, for a financial year, means the price known as the “F.O.B.” or “free on board” export price in relation to all bulk sales during the financial year of ilmenite concentrate produced in the State.
This regulation applies in relation to ilmenite feedstock that is not of marketable quality.
For each financial year, the Commissioner must —
ascertain the F.O.B. export price for the previous financial year; and
for the purposes of the Table to Schedule 1 Division 1, work out the amount per tonne for the ilmenite feedstock under subregulation (4).
The amount per tonne for the ilmenite feedstock for a financial year is the amount calculated using the following formula —
where —
R is the amount;
X is the F.O.B. export price for the previous financial year;
Y is the F.O.B. export price for the financial year ending on 30 June 1987.
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