Explanatory Statement
Statutory Rules 1982 No. 134
Amendment of the Bounty (Agricultural Tractors) Regulations
Issued by the authority of the Minister of State for Industry and Commerce
The purpose of the accompanying regulations, which will have effect from 1 July 1982, is to amend the factor by which amounts shown in the Schedule to the Bounty (Agricultural Tractors) Act are to be multiplied.
The variation of this factor is to reflect movements in the Reserve Bank of Australia Import Price Index in accordance with a Government decision to index, on a quarterly basis, bounty payments in respect of agricultural tractors.
The decrease in the factor will mean a decrease in bounty entitlements of approximately 5.02% from the previous factor.