House of Representatives

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)

Notes on clauses

Clause 1 - Short Title

1. Clause 1 is a formal provision specifying the short title of the Bill.

Clause 2 - Commencement

2. Clause 2 provides for the commencement of the Act. Subclause 2(1) provides that each provision of the Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.

Clause 3 - Schedule(s)

3. Clause 3 provides for the Schedule to the Act. It provides that the Acts specified in the Schedule to the Bill are amended or repealed as set out in that Schedule.