Explanatory Statement
Statutory Rules 1984 No.259
Amendment of the Bounty (Agricultural Tractors) Regulations
Issued by the Authority of the Minister of State for Industry and Commerce
Regulation 4 of the Bounty (Agricultural Tractors) Regulations 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 regulation 2 is to amend regulation 4 of the Bounty (Agricultural Tractors) Regulations by introducing a new factor, which is to have effect from 1 October 1984.
The revised factor is a decrease from the previous factor and has been calculated to accord with recent movements in the Australian Bureau of Statistics Import Price Index “Machinery Specialised for Particular Industries” group. This adjustment is consistent with established practice.
The decrease in the factor will mean a decrease in bounty entitlements of approximately 1.4% from the previous factor.
Regulation 3 corrects a minor drafting error in regulation 6(2)(a) of the Bounty (Agricultural Tractors) Regulations.
Overview
The Bounty (Agricultural Tractors) Regulations 1984, issued under the authority of the Minister of State for Industry and Commerce, serve to amend Regulation 4 of the Bounty (Agricultural Tractors) Regulations. This legislative instrument was enacted to address the need for periodic adjustments to the factor used in calculating bounty entitlements for agricultural tractors, ensuring that the bounty remains aligned with economic indicators such as the Australian Bureau of Statistics Import Price Index. The policy objective behind this amendment is to maintain the relevance and effectiveness of the bounty system by reflecting current market conditions and import price trends. The new factor, which decreases from the previous one, is designed to reduce bounty entitlements by approximately 1.4%, a change that is consistent with recent movements in the specified import price index group. Additionally, Regulation 3 rectifies a minor drafting error in the existing regulations, thereby enhancing the precision and functionality of the legislative framework.
Scope and Application
The Bounty (Agricultural Tractors) Regulations 1984, as amended by Statutory Rules 1984 No. 259, apply to the calculation of bounty entitlements for agricultural tractors in Australia, with the primary objective of adjusting the factor used to determine these entitlements in line with economic indicators. This adjustment, specified in regulation 4 of the Bounty (Agricultural Tractors) Regulations, affects persons and entities engaged in the import and use of agricultural tractors, impacting the bounty amounts they are entitled to claim. The regulation's adjustments take effect from 1 October 1984 and are derived from the Australian Bureau of Statistics Import Price Index for the "Machinery Specialised for Particular Industries" group, ensuring the calculations remain aligned with market movements. Regulation 3 addresses a minor error in regulation 6(2)(a) of the original regulations, thereby ensuring the precision and effectiveness of the legislative framework. This regulatory amendment applies nationally and is subject to further adjustments or clarifications that may be issued through subordinate instruments by the relevant authorities.
Key Provisions
The Bounty (Agricultural Tractors) Regulations 1984, as amended, introduce significant changes to the bounty calculation for agricultural tractors. Regulation 2 (referenced in the Explanatory Statement) amends Regulation 4 to reflect a new factor for determining the bounty amount. This amendment is effective from 1 October 1984 and involves a reduction in the factor, which was calculated based on the latest data from the Australian Bureau of Statistics Import Price Index for the "Machinery Specialised for Particular Industries" category. This adjustment is intended to align with established practices and ensure the bounty remains reflective of current market conditions. As a result, the new factor will result in a decrease in bounty entitlements by approximately 1.4% compared to the previous factor.
The amended regulations impose specific obligations on the parties involved in the bounty scheme for agricultural tractors. Primarily, these obligations involve the calculation and application of the new factor as stipulated in Regulation 2. The entities and individuals affected by these regulations must now use the revised factor to determine their bounty entitlements in accordance with the Bounty (Agricultural Tractors) Act 1966. This change necessitates a review and potential recalculation of past and future bounty amounts to ensure compliance with the updated regulations.
Failure to comply with the provisions of the Bounty (Agricultural Tractors) Regulations 1984 may result in various consequences. While the Explanatory Statement does not detail specific offences or penalties, it is understood that non-compliance with statutory regulations can attract civil or criminal liability under Australian law. In general, breaches of regulations can lead to penalties, which may include fines or other enforcement actions. The precise nature and extent of these penalties would be determined by the relevant authorities and the specifics of the breach, but they can be substantial. It is crucial for parties governed by these regulations to ensure they adhere to the new requirements to avoid any adverse consequences.