House of Representatives

Explanatory Memorandum

(Circulated by authority of the Minister for Industry, Tourism and Resources, the Hon Ian Macfarlane MP)

Notes on clauses

Clause 1: Short Title

Clause 1 is a formal provision specifying the title of the Bill. The Act will be called the ACIS Administration Amendment (Unearned Credit Liability) Act 2007 .

Clause 2: Commencement

Clause 2 provides that the Act will commence on the day that it receives Royal Assent.

Clause 3: Schedule(s)

This clause provides that the Schedule to the Bill will amend the Act set out in the Schedule in accordance with the provisions set out in the Schedule.