Bounty (Ships) (Reservation of Bounty) Regulations (Amendment) (Cth)

Statutory Rules 1988 No. 3591

_______________

Bounty (Ships) (Reservation of Bounty) Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Bounty (Ships) Act 1980.

Dated 15 December 1988.

N. M. STEPHEN

Governor-General

By His Excellency's Command,

JOHN N. BUTTON

Minister of State for Industry,

Technology and Commerce

–––––––––––

Commencement

1. These Regulations shall be taken to have commenced on 15 June 1987.

Principal Regulations

2. In these Regulations, "Principal Regulations" means the Bounty (Ships) (Reservation of Bounty) Regulations.

Interpretation

3. Regulation 2 of the Principal Regulations is amended:

(a) by omitting the definition of "available amount";

(b) by omitting the definition of "maximum amount available";

(c) by omitting the definition of "prescribed period";

(d) by omitting "or 7" from the definition of "proposed amount".

Reservation of bounty

4. Regulation 6 of the Principal Regulations is repealed and the following regulation substituted:

"6. Where the Comptroller-General accepts an application under regulation 5, the Comptroller-General shall:

(a) reserve in the name of the applicant an amount of bounty equal to the proposed amount; and

(b) as soon as practicable after making that reservation, cause a notice in writing of the reservation to be served on the applicant.".

Repeal of regulation 7

5. Regulation 7 of the Principal Regulations is repealed.

Variation of reservation

6. Regulation 8 of the Principal Regulations is amended by adding at the end the following subregulation:

"(2) Where the Comptroller-General becomes aware that an amount of bounty reserved in the name of a person is less than the amount that would be payable to the person on a valid claim for bounty in respect of the construction or modification of the bountiable vessel in respect of which the reservation was made, the Comptroller-General shall, in writing:

(a) determine the estimated cost of that construction or modification; and

(b) vary the reservation by increasing the amount of bounty reserved by such amount as the Comptroller-General considers necessary, having regard to the estimated cost as determined by the Comptroller-General under paragraph (a).".

Transfer of reservation

7. Regulation 9 of the Principal Regulations is amended by omitting from paragraph (1) (b) ", or an associate of the owner,".

Cancellation of reservation

8. Regulation 10 of the Principal Regulations is amended by omitting from paragraph (1) (d) or an associate of the owner,".

Repeal of regulation 11

9. Regulation 11 of the Principal Regulations is repealed.

Date of completion

10. Regulation 12 of the Principal Regulations is amended by omitting subregulation (1).

Repeal of regulation 13

11. Regulation 13 of the Principal Regulations is repealed.

Application for review

12. Regulation 14 of the Principal Regulations is amended by omitting paragraphs (1) (b) and (c) and substituting the following paragraphs:

"(b) a decision of the Comptroller under subregulation 8(1) to vary the reservation of an amount of bounty reserved by reducing the amount;

(c) a decision of the Comptroller under subregulation 8 (2) refusing to vary the reservation of an amount of bounty reserved by increasing the amount; or".

NOTES

1. Notified in the Commonwealth of Australia Gazette on 21 December 1988.

2. Statutory Rules 1985 No. 155 as amended by 1987 No. 116; 1988 No. 176.