Explanatory Memorandum(Circulated by the authority of the Minister for Home Affairs, the Honourable Brendan O'Connor MP)
1. The purpose of this Bill is to amend the Customs Act 1901 (the Customs Act) to implement amendments to the rules of origin requirements under the Australia-New Zealand Closer Economic Relations Trade Agreement (the Agreement). These requirements are set out in Article 3 and Annex G to the Agreement. The amendments to the Customs Act implement the amendments to Article 3 of the Agreement. Amendments to the Customs (New Zealand Rules of Origin) Regulations 2006 will implement the amendments to Annex G to the Agreement.
2. Specifically, the Bill will amend Division 1E of Part VIII of the Customs Act to:
- insert a new definition of 'aquaculture';
- amend the definition of 'manufacture';
- amend the definition of 'produce';
- amend the provisions dealing with 'wholly obtained goods';
- amend the provisions dealing with eligibility based on the last process of manufacture;
- insert a new section to provide that goods are not New Zealand originating goods merely because of the certain operations; and
- make consequential amendments to the verification powers in Division 4D of Part VI of the Customs Act.
Financial impact statement
3. The Bill has no financial impact.
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