EXPLANATORY STATEMENT
STATUTORY RULES 1986 NO 214
BOUNTY (STEEL MILL PRODUCTS) REGULATIONS
Issued by the authority of the Minister of State for Industry, Technology & Commerce
The Minister for Industry, Technology and Commerce has agreed to extend coverage of the Bounty (Steel Mill Products) Act 1983 (the Act) so as to enable bounty to be paid from 1 January 1984 on lock seam tubular products by extending the definition of “bountiable tube” to include tube produced by spirally forming prescribed strip into a lock seam tubular product, and welding the seam so formed. The definition of ‘bountiable tube’ in the Act does not encompass this manner of production, which was always intended to receive bounty.
Details of the Regulations are as follows:
Regulation 1 is a formal machinery clause providing for the citation of the Regulations.
Regulation 2 deems these Regulations to have come into operation on 1 January 1984, which is the date of commencement of the Principal Act.
Regulation 3 prescribes the new process of spirally forming bountiable steel product into a lock seam tubular product and welding the seam along its entire length, as an eligible manufacturing process for bounty purposes.