EXPLANATORY STATEMENT
BOUNTY (SHIPS) ACT 1980
BOUNTY (SHIPS) (RESERVATION OF BOUNTY REGULATIONS (AMENDMENT)
STATUTORY RULES 1988 NO. 360
ISSUED BY THE AUTHORITY OF THE MINISTER OF STATE FOR INDUSTRY, TECHNOLOGY AND COMMERCE
Statutory Rules 1988 No. 176, amongst other things, amended subregulation 3(1) of the Bounty (Ships) (Reservation of Bounty) Regulations to allow registered shipbuilders who are “associates of the owner” (a term defined in subsection 3(3) of the Bounty (Ships) Act 1980) to reserve amounts of bounty. This amendment took effect from the date of gazettal of the Statutory Rules (8 July 1988).
However, it has since come to light that this amendment will adversely effect some shipbuilders who have entered into contracts with associated parties between 15 June 1987 (the date of gazettal of Statutory Rules 1987 No. 116 which were the Statutory Rules which gave effect to the new reservation policy for the Bounty Ships regime) and 8 July 1988. To overcome this, new subregulation 3(3) is inserted which provides that any shipbuilder who was an associate of the owner of a bountiable vessel between 15 June 1987 and 8 July 1988 will not, because of that association, be ineligible to apply for a reservation of bounty.
As these Statutory Rules confer a benefit, subsection 48(2) of the Acts Interpretation Act 1901 is not offended.