Australian Land Transport (Financial Assistance) Amendment Act 1986

Overview

The Australian Land Transport (Financial Assistance) Amendment Act 1986 was enacted to modify the Australian Land Transport (Financial Assistance) Act 1985. This legislation was introduced to address issues related to the financial assistance provided to the land transport sector. Enacted by the Parliament of Australia, the Act aims to adjust the rates of financial assistance and ensure a smooth transition by accounting for the differences arising from the amendments. The policy objective is to maintain the integrity and effectiveness of the financial assistance scheme, ensuring that it meets the evolving needs of the land transport industry.

Scope and Application

The Australian Land Transport (Financial Assistance) Amendment Act 1986 applies to entities and persons involved in the Australian land transport sector, specifically modifying financial assistance provisions set forth in the Australian Land Transport (Financial Assistance) Act 1985. It is a Commonwealth Act, meaning it applies across Australia and regulates the financial assistance provided to land transport entities. The Act amends the principal legislation by modifying the rate applicable under section 14, effective from 1 July 1986, and addresses the indexation of the relevant rate. The Act also includes provisions for transitional arrangements, ensuring that any payments made prior to the Act's commencement remain valid. The Minister is tasked with publishing notices in the Gazette specifying the substituted rate and ensuring that adjustments to the Fund reflect the amended rates. There are no specific exclusions or exemptions mentioned within the text, implying that the provisions apply broadly to all relevant entities within the land transport sector.

Key Provisions

The Australian Land Transport (Financial Assistance) Amendment Act 1986 (Act) introduces several amendments to the Australian Land Transport (Financial Assistance) Act 1985 (Principal Act). Section 3 of the Act inserts a new section 14a into the Principal Act, which modifies the rate applicable under section 14. Specifically, section 14a(1) states that the Act is deemed to have had effect from 1 July 1986 as if the rate specified in the notice published under section 14 on 30 July 1986 had been 3.61 cents per litre. Importantly, section 14a(2) clarifies that this modification does not affect the validity of any payments made before the commencement of this section. The Act also amends section 15 of the Principal Act, as per section 4, to modify the indexation of the relevant rate. The specific change involves omitting "the relevant" from subsection (7) and substituting it with "a". This alteration likely affects how the indexation rate is calculated or applied, but the precise implications depend on the context provided by the Principal Act. Transitional provisions are addressed in section 5. Under this section, if a substituted rate is applied by virtue of sections 14a and 15 as amended, the Minister must publish a notice in the Gazette specifying this substituted rate as soon as practicable after the commencement of this Act. Additionally, section 5(2) mandates that a payment be made from the Fund to the Consolidated Revenue Fund. This payment should equal the difference between the sums of amounts paid into the Fund under section 12(1) of the Principal Act during a specific period and the sums that would have been paid if the 3.61 cents per litre rate had been in effect, plus any income derived from the investment of the difference. The Act imposes certain obligations on the Minister, primarily related to the publication of notices and the calculation of payments. For example, section 5(1) requires the Minister to publish a notice in the Gazette specifying the substituted rate. Furthermore, section 5(2) requires the Minister to determine and declare an amount representing income derived from the investment of money, which must then be paid to the Consolidated Revenue Fund. Regarding consequences for non-compliance, the Act does not explicitly detail offences, penalties, or consequences for breach. However, the obligations imposed on the Minister, such as timely publication of notices and accurate calculation of payments, suggest that failure to comply could have legal ramifications. While specific penalties are not stated in the Act, non-compliance with legislative requirements could potentially lead to legal actions or administrative consequences under other applicable laws or regulations.