Tasmanian Development Order 2016 (TAS)

Tasmanian Development Order 2016

I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following order under section 9(6) of the Tasmanian Development Act 1983 .27 June 2016

C. WARNER

Governor

By Her Excellency’s Command,

MATTHEW GROOM

Minister for State Growth

1Short titleThis order may be cited as the Tasmanian Development Order 2016 . 2CommencementThis order takes effect on the day on which its making is notified in the Gazette. 3Principal ActIn this order, the Tasmanian Development Act 1983 is referred to as the Principal Act. 4Section 9 amended (General powers of TDR) Section 9 of the Principal Act is amended as follows: (a) by omitting from subsection (2)(b) "$1 500 000" and substituting "$3 000 000"; (b) by omitting from subsection (4)(a) "$100 000" and substituting "$250 000"; (c) by omitting from subsection (5)(a) "$250 000" and substituting "$500 000"; (d) by omitting from subsection (5)(b) "$250 000" and substituting "$500 000". 5RevocationThis order is revoked on the three hundred and sixty fifth day from the day on which it takes effect.

Displayed and numbered in accordance with the Rules Publication Act 1953.

Notified in the Gazette on 29 June 2016

This order is administered in the Department of State Growth.

EXPLANATORY NOTE

(This note is not part of the order) This order amends the

(a) the amount that Tasmania Development and Resources may lend to a person, with security, from $1 500 000 to $3 000 000; and (b) the amount that Tasmania Development and Resources may lend to a person, with or without security and with or without interest, from $100 000 to $250 000; and (c) the threshold which determines whether financial grants by Tasmania Development and Resources require the approval of the Minister, or of both the Minister and the Treasurer, from $250 000 to $500 000.