Export Payments Insurance Corporation Regulations (Amendment)

Overview

The Export Payments Insurance Corporation Regulations 1970 were introduced under the Export Payments Insurance Corporation Act 1956–1970 by the Governor-General in Council, acting on the advice of the Federal Executive Council. These regulations were made to provide a framework for the administration and operation of the Export Payments Insurance Corporation, which was established to insure export payments against commercial and political risks. The policy objective was to support Australian exporters by mitigating the financial risks associated with exporting goods and services, thereby promoting economic growth and stability in the export sector. The regulations set out specific allowances for the Commissioner and Acting Commissioner, including minimum guarantee amounts, salaries, travelling allowances, and entertainment allowances, to ensure the effective functioning of the Corporation and its officers.

Scope and Application

The Export Payments Insurance Corporation Regulations, as amended, apply to the Commissioner and any Acting Commissioner of the Export Payments Insurance Corporation, which is a statutory body established under the Export Payments Insurance Corporation Act 1956–1970. These regulations govern the allowances and benefits, including travel, entertainment, and salary, that the Commissioner and Acting Commissioner are entitled to receive while performing their duties. The regulations have a national jurisdictional reach, applying across the Commonwealth of Australia and its territories, and extend to any service performed by the Commissioner or Acting Commissioner outside of Australia. The specific amendments to the regulations clarify definitions, establish a minimum amount for guarantees, set specific salary and allowance rates, and specify conditions under which these allowances are payable. Notably, these regulations do not include any exclusions or exemptions, applying uniformly to the defined roles within the Corporation. The application of these regulations is further defined by the specific provisions within the amended regulations themselves, which detail the rates and conditions for various allowances.

Key Provisions

The key operative sections of the Export Payments Insurance Corporation Regulations 1970 (C1970L00092) primarily concern definitions and allowances related to the duties of the Commissioner and Acting Commissioner of the Export Payments Insurance Corporation. For instance, Regulation 2 introduces a new definition of "Acting Commissioner" to clarify who is eligible for certain provisions (reg. 2). Regulation 4 sets the minimum amount for guarantees under section 13a(2) of the Export Payments Insurance Corporation Act 1956–1970 at One thousand dollars (reg. 4). Regulation 5 specifies the salary for the Commissioner at Eleven thousand eight hundred and twenty-two dollars (reg. 5). Furthermore, Regulations 6 and 7 outline allowances for travel and service outside Australia, respectively (regs. 6–7). Regulation 8 details the entertainment allowance for the Commissioner and Acting Commissioner at One thousand dollars per year (reg. 8). These regulations impose specific financial obligations and requirements on the Export Payments Insurance Corporation, particularly concerning the allowances and entitlements of the Commissioner and Acting Commissioner. The Commissioner and Acting Commissioner are entitled to receive specified allowances for travel, service outside Australia, and entertainment expenses when performing their duties. For example, the Commissioner and Acting Commissioner are entitled to a travelling allowance of Twenty-one dollars per day if they are absent from Sydney overnight for official duties (reg. 6(1)). Additionally, they are entitled to allowances for service outside Australia comparable to those of a Second Division officer in the Commonwealth Public Service (reg. 7(1)). Furthermore, they are entitled to an annual entertainment allowance of One thousand dollars to cover expenses incurred while performing their duties (reg. 8(1) and (2)). Breaches of these regulations may result in administrative consequences, although the specific statutory text does not detail any explicit offences, penalties, or civil/criminal consequences. However, non-compliance with the prescribed allowances and entitlements could potentially lead to disputes or claims regarding the rightful financial benefits due to the Commissioner and Acting Commissioner. It is also possible that failure to adhere to the defined allowances might be subject to internal review or audit processes within the Corporation, with potential implications for financial mismanagement or misallocation of funds.