Primary Industries Research and Development Act 1989

Fisheries Research and Development Corporation Regulations 1991

DETERMINATION OF THE COMMONWEALTH FISHERIES GROSS VALUE OF PRODUCTION (GVP) FOR 2016–17

Pursuant to subsection 30A(2) of the Primary Industries Research and Development Act 1989 and Regulation 4D of the Fisheries Research and Development Corporation Regulations 1991, I, Ian Thompson, First Assistant Secretary, Sustainable Agriculture, Fisheries and Forestry Division, being an officer authorised for this purpose by the instrument of delegation approved on 22 July 2014 by the then Minister for Agriculture, hereby determine that the Commonwealth Gross Value of Production (GVP) for the financial year 2016–17, being the GVP for that financial year of goods that are the produce of that part of the fishing industry that is managed by, on behalf of, or pays levies directly to the Commonwealth, is $468,941,000.

Dated this 29th day of May 2017

Ian Thompson

EXPLANATORY STATEMENT

Primary Industries Research and Development Act 1989

Fisheries Research and Development Corporation Regulations 1991

DETERMINATION OF THE COMMONWEALTH FISHERIES GROSS VALUE OF PRODUCTION (GVP) FOR 2016–17

Under subsection 30A(2) and (3) of the Primary Industries Research and Development Act 1989, the amount paid to the Fisheries Research and Development Corporation from the Consolidated Revenue Fund shall be based on the Gross Value of Production (GVP) of the Commonwealth fishing industry.

Subsection 30A(5) of the Primary Industries Research and Development Act 1989 and 4D of the Fisheries Research and Development Corporation Regulations 1991 provides for the Commonwealth GVP in a given year to be an average of the GVP for the relevant and the two preceding financial years. The authority to determine the Commonwealth GVP has been delegated to the First Assistant Secretary of the Sustainable Agriculture, Fisheries and Forestry Division of the Department of Agriculture and Water Resources.

The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) has estimated, to the nearest thousand dollars, the GVP of the Commonwealth managed fisheries in the financial years 2014–15, 2015–16 and
2016-17. These estimates are:

The rounded average of the above is $468,941,000.

On the basis of the above calculation, the Commonwealth GVP for 2016–17 is determined to be $468,941,000.