House of Representatives

Trade Support Loans Bill 2014

Trade Support Loans (Consequential Amendments) Bill 2014

Explanatory Memorandum

(Circulated by authority of the Minister for Industry, the Honourable Ian MacFarlane MP)

Notes on clauses - Trade Supports Loan Bill (Consequential Amendments) Bill 2014

Clause 1 - Short title

Provides for the Act to be cited as the Trade Support Loans (Consequential Amendments Act 2014.

Clause 2 - Commencement

Subclause 2(1) inserts a three column table setting out commencement information for various provisions in the Act. Each provision of the Act specified in column 1 of the table commences (or is taken to have commenced) in accordance with column 2 of the table and any other statement in column 2 has effect according to its terms.

Table Item 1 - Sections 1 to 3 of the Act

Table Item 1 provides that sections 1 to 3 and anything in the Act not elsewhere covered by the table shall commence on Royal Assent.

Table item 2 - Items 1 to 25 of Schedule 1 to the Act

Table item 2 provides that items 1 to 25 of Schedule 1 to the Act shall commence at the same time as sections 3 to 106 of the Trade Support Loans Act 2014 commences.

Table item 3 - Item 26 of Schedule 1 to the Act

Table item 3 provides that item 26 of Schedule 1 shall commence at the same time set out table item 2.

However, item 26 shall not commence at all if item 115 of Schedule 1 to the Minerals Resource Rent Tax Repeal and Other Measures Act 2014 commences at or before that time.

Table item 4 - Item 27 of Schedule 1 to the Act

Table item 4 provides that item 27 of Schedule 1 shall commence immediately after the time set out in table item 2.

However, item 27 shall not commence at all if item 115 of Schedule 1 to the Minerals Resource Rent Tax Repeal and Other Measures Act 2014 does not commence at or before the time set out in table item 2.

Table item 5 - Items 28 to 35 of Schedule 1 to the Act

Table item 5 provides that items 28 to 35 of Schedule 1 shall commence at the same time set out in table item 2.

Subclause 2(2) provides that column 3 of the table is for additional information which may be added to or edited in any published version of the Act but that information is not part of the Act.

Clause 3 - Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.


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