State Owned Enterprises (Amendment) Act 2001 (Vic)

State Owned Enterprises (Amendment) Act 2001

Act No. 24/2001

TABLE OF PROVISIONS

Section Page

1.	Purpose	1
2.	Commencement	2
3.	National tax equivalent regime	2

═══════════════

ENDNOTES 5

i

Victoria

No. 24 of 2001

State Owned Enterprises (Amendment)

Act 2001†

[Assented to 29 May 2001]

The Parliament of Victoria enacts as follows:

1. Purpose

The purpose of this Act is to amend the State Owned Enterprises Act 1992 as a consequence of the introduction of a national tax equivalent regime.

State Owned Enterprises (Amendment) Act 2001

s. 2 Act No. 24/2001

2. Commencement

This Act comes into operation on the day after the day on which it receives the Royal Assent.

3. National tax equivalent regime

See:

Act No.	(1) In section 88 of the State Owned Enterprises
90/1992	Act 1992—
Reprint No. 3
as at	(a) in sub-section (1)—
14 May 1998
and	(i) in paragraph (a), after
amending
Act No.	"Commonwealth" insert "(other than a
74/2000.	GST law)"1;
LawToday: dpc.vic.	(ii) at the end of paragraph (a) omit "and";
gov.au	(iii) paragraph (b) is repealed;

(b) in sub-section (2) omit "or ceases to be entitled to the benefit of the exemption referred to in sub-section (1)(b), as the case requires".

(2) In section 88 of the State Owned Enterprises

Act 1992, after sub-section (3C) insert—

"(3D) The Treasurer may at any time direct a State

owned enterprise—

(a) to enter the NTER; or

(b) to withdraw from the NTER.

(3E) Sub-section (3A) does not apply to a State

owned enterprise that is the subject of a

direction under sub-section (3D)(a).".

(3) In section 88 of the State Owned Enterprises

Act 1992, for sub-section (4) substitute—

"(4) The Treasurer may, by instrument, delegate

to—

(a) any person or class of persons employed in the administration of this

State Owned Enterprises (Amendment) Act 2001

Act No. 24/2001	s. 3
Act, any power of the Treasurer under this section, other than this power of delegation;

(b) any person or class of persons employed or engaged in the administration of the NTER, any power of the Treasurer under this section in relation to a State owned enterprise that is the subject of a direction under sub- section (3D)(a), other than—

(i) this power of delegation; or

(ii)  the power in sub-section (1) to direct a State owned enterprise to comply with this section; or

(iii)  the power to make a direction under sub-section (3D).".

(4) In section 88(6) of the State Owned Enterprises

Act 1992 insert the following definitions—

' "GST law" means any of the following Acts of

the Commonwealth—

(a)	A New Tax System (Goods and Services Tax) Act 1999;
(b)

A New Tax System (Goods and Act 1999;

(c)

A New Tax System (Goods and 1999;

(d)

A New Tax System (Goods and 1999;

State Owned Enterprises (Amendment) Act 2001

s. 3 Act No. 24/2001

"NTER" means the National Tax Equivalent

Regime referred to in clause 24 of the
Intergovernmental Agreement on the Reform
of Commonwealth-State Financial Relations
set out in the Schedule to the National
Taxation Reform (Consequential

Provisions) Act 2000;'.

═══════════════
State Owned Enterprises (Amendment) Act 2001

Act No. 24/2001 Endnotes

ENDNOTES

†

Minister's second reading speech—

Legislative Assembly: 22 March 2001

Legislative Council: 15 May 2001

The long title for the Bill for this Act was "to amend the State Owned
Enterprises Act 1992 as a consequence of the introduction of a national

tax equivalent regime and for other purposes."

1 S. 3(1)(a)(i): The Treasurer has power under section 6 of the National

Taxation Reform (Consequential Provisions) Act 2000 to direct State entities (as defined in that Act) to make GST-equivalent payments.