Bounty and Subsidy Legislation Amendment Act (No. 2) 1988 (Cth)

Bounty and Subsidy Legislation Amendment Act (No. 2) 1988

No. 145 of 1988

 

An Act to amend certain Acts providing for the payment of bounty or subsidy, and for related purposes

[Assented to 26 December 1988]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

1. This Act may be cited as the Bounty and Subsidy Legislation Amendment Act (No. 2) 1988.

Commencement

2. (1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.

(2) The amendments of the Bounty (Bed Sheeting) Act 1977 made by subsection 4 (1) of this Act commence, or shall be taken to have commenced, as the case requires, on 1 November 1988.

(3) The amendment of the Bounty (Printed Fabrics) Act 1981 made by subsection 4 (1) of this Act and amending the definition of “bountiable printed fabric” in subsection 2 (1) of that Act commences on 1 March 1989.

(4) Subsection 4 (2) shall be taken to have commenced on 1 January 1988.

Validation of applications for prescribed bountiable vessels

3. Where, before 30 June 1988, the Comptroller-General purported to accept an application for reservation of bounty in relation to a bountiable vessel, being a bulk carrier, a fishing vessel, a rig service vessel or a tug, the construction of which:

(a) was commenced on or after 1 January 1988 and before the commencement of this section; or

(b) is, or is to be, commenced on or after the commencement of this section and before 1 July 1989;

then, notwithstanding that on the day of that purported acceptance no vessels had been prescribed for the purposes of subparagraph 7 (1) (g) (i) of the Bounty (Ships) Act 1980, that application shall, for all purposes, be taken to have been validly accepted:

(c) on the day on which the Comptroller-General purported to accept the application; and

(d) in respect of an amount equal to 20% of the cost of the construction of that bountiable vessel.

Amendments of various bounty and subsidy Acts

4. (1) The Acts specified in Schedule 1 are amended as set out in that Schedule.

(2) The Act specified in Schedule 2 is amended as set out in that Schedule.

—————

SCHEDULE 1 Subsection 4 (1)

AMENDMENTS OF VARIOUS BOUNTY ACTS

Bounty (Bed Sheeting) Act 1977

Subsection 4 (1b):

(a) Omit “Subject to subsection (3), the”, substitute “The”.

(b) After “subsequent period of 12 months” insert “that ends before 1 November 1988”.

Subsections 4 (2) and (3):

Omit the subsections, substitute the following subsections:

“(2) The period of 4 months commencing on 1 November 1988 is a period to which this Act applies.

“(3) The periods of 12 months commencing on 1 March 1989, 1 March 1990, 1 March 1991 and 1 March 1992 respectively are each periods to which this Act applies.”.

Paragraph 8 (1) (b):

Omit “and”.

Paragraph 8 (1) (c):

Omit “other than a period referred to in paragraph (a) or (b)”, substitute “referred to in subsection 4 (1b)”.

Subsection 8 (1):

Add at the end the following paragraphs:

“(d) in the case of the period referred to in subsection 4 (2)—$200,000; and

(e) in the case of a period referred to in subsection 4 (3)—$3,200,000.”.

Bounty (Books) Act 1986

Paragraph 4 (5) (b):

Omit all the words from and including “equal to”, substitute:

“equal to:

(i) if the book is produced before 1 January 1989—16.7%;

(ii) if the book is produced on or after 1 January 1989 and before 1 January 1990—15.3%;

(iii) if the book is produced on or after 1 January 1990 and before 1 January 1991—13.8%;

(iv) if the book is produced on or after 1 January 1991 and before 1 January 1992—12.3%; and

SCHEDULE 1—continued

(v) if the book is produced on or after 1 January 1992—11.9%;

of:

(vi) where there is no amount referred to in paragraph (a)—the gross price; or

(vii) where there is such an amount—the difference between the gross price and that amount.”.

Subsection 19 (11):

Omit the subsection.

Paragraph 33 (1) (g):

Omit “(other than such a decision made under subsection 19 (11))”.

Bounty (Printed Fabrics) Act 1981

Subsection 2 (1) (definition of “bountiable printed fabric”):

Omit “120”, substitute “125”.

Subsection 2 (1) (definition of “bounty period”):

Omit “31 December 1988”, substitute “30 June 1995”.

Paragraph 6 (b):

Omit the paragraph, substitute the following paragraph:

“(b) where that condition is satisfied in relation to the fabric:

(i) on or after 20 August 1986 and before 1 March 1989—56%;

(ii) on or after 1 March 1989 and before 1 March 1990—53%;

(iii) on or after 1 March 1990 and before 1 March 1991—49%;

(iv) on or after 1 March 1991 and before 1 March 1992—45%;

(v) on or after 1 March 1992 and before 1 March 1993—41%;

(vi) on or after 1 March 1993 and before 1 March 1994—37%;

(vii) on or after 1 March 1994 and before 1 July 1995—33%; and

(viii) on or after 1 July 1995—30%;

of the additional value added to the fabric by that producer.”.

SCHEDULE 1—continued

Bounty (Textile Yarns) Act 1981

Subsection 2 (1) (definition of “bounty period”):

Omit “31 December 1988”, substitute “30 June 1995”.

Paragraph 6 (1) (b):

Omit the paragraph, substitute the following paragraph:

“(b) where that condition is satisfied in relation to that yarn:

(i) on or after 20 August 1986 and before 1 March 1989—47.2%;

(ii) on or after 1 March 1989 and before 1 March 1993—42.5%;

(iii) on or after 1 March 1993 and before 1 March 1994—35%; and

(iv) on or after 1 March 1994—30%;

of the additional value added to the yarn by that producer.”.

Subsection 6 (2):

Omit all the words after “equal to—”, substitute:

“(d) where the condition specified in paragraph 5 (5) (c) is satisfied in relation to the yarn before 20 August 1986—49% of the additional value added to the yarn by that producer; and

(e) where that condition is satisfied in relation to that yarn:

(i) on or after 20 August 1986 and before 1 March 1989—39.2%;

(ii) on or after 1 March 1989 and before 1 March 1990—38%;

(iii) on or after 1 March 1990 and before 1 March 1991—36%;

(iv) on or after 1 March 1991 and before 1 March 1992—34%;

(v) on or after 1 March 1992 and before 1 March 1993—32%; and

(vi) on or after 1 March 1993—30%;

of the additional value added to the yarn by that producer.”.

Paragraph 6 (3) (b):

Omit the paragraph, substitute the following paragraph:

“(b) where that condition is satisfied in relation to the yarn:

(i) on or after 20 August 1986 and before 1 March 1989—41.6%;

SCHEDULE 1—continued

(ii) on or after 1 March 1989 and before 1 March 1990—39%;

(iii) on or after 1 March 1990 and before 1 March 1991—37%;

(iv) on or after 1 March 1991 and before 1 March 1992—35%;

(v) on or after 1 March 1992 and before 1 March 1993—33%; and

(vi) on or after 1 March 1993—30%;

of the additional value added to the yam by that producer.”.

Subsection 6 (4):

Omit all the words after “equal to—”, substitute:

“(c) where the condition specified in paragraph 5 (5) (c) is satisfied in relation to the yarn before 20 August 1986—43% of the additional value added to the yarn by that producer; and,

(d) where that condition is satisfied in relation to the yarn:

(i) on or after 20 August 1986 and before 1 March 1989—34.4%;

(ii) on or after 1 March 1989 and before 1 March 1990—34%;

(iii) on or after 1 March 1990 and before 1 March 1991—33%;

(iv) on or after 1 March 1991 and before 1 March 1992—32%;

(v) on or after 1 March 1992 and before 1 March 1993—31%; and

(vi) on or after 1 March 1993—30%;

of the additional value added to the yarn by that producer.”.

Subsection 6 (5):

Omit all the words after “equal to—”, substitute:

“(e) where the condition specified in paragraph 5 (5) (c) is satisfied in relation to the yarn before 20 August 1986—33% of the additional value added to the yarn by that producer; and

(f) where that condition is satisfied in relation to the yarn:

(i) on or after 20 August 1986 and before 1 March 1989—26.4%;

(ii) on or after 1 March 1989 and before 1 March 1990—27%;

(iii) on or after 1 March 1990 and before 1 March 1991—28%;

SCHEDULE 1— continued

(iv) on or after 1 March 1991 and before 1 March 1992—29%; and

(v) on or after 1 March 1992—30%;

of the additional value added to the yarn by that producer.”.

————

SCHEDULE 2 Subsection 4 (2)

Subsidy (Cultivation Machines and Equipment) Act 1986

Paragraph 12 (2) (b):

Omit “item 84.24”, substitute “heading 8432”.

 

[Minister’s second reading speech made in—

House of Representatives on 1 September 1988

Senate on 1 November 1988