Explanatory Statement
Statutory Rules 1983 No.29
Amendment of the Bounty (Agricultural Tractors) Regulations
Issued by the Authority of the Minister of State for Industry and Commerce
Regulation 2A prescribes, for the purposes of sub-section 6(1A) of the Bounty (Agricultural Tractors) Act 1966, the factor by which an amount ascertained in accordance with the Schedule to the Act may be multiplied.
The purpose of the regulations is to amend regulation 2A by introducing a new factor, which is to have effect from 1 April 1983.
The revised factor has been calculated to accord with recent movements in the Reserve Bank of Australia Import Price Index “Machinery except Electric” group.
The increase in the factor will mean an increase in bounty entitlements of approximately 3.8% from the previous factor.