Senate

Tax Laws Amendment (2009 Measures No. 4) Bill 2009

Explanatory Memorandum

Circulated By the Authority of the Treasurer, the Hon Wayne Swan Mp

CORRECTION TO THE EXPLANATORY MEMORANDUM

The following additional paragraph should appear after paragraph 2.92:


2.92A This treatment is consistent with the movement of responsibility for the administration of PPFs to the Commissioner. Parliamentary scrutiny will be maintained, as the declaration will be by way of legislative instrument which is reviewable (and disallowable) by either House of Parliament. This is consistent with the current prescription mechanism undertaken by the Governor-General.