Proceeds of Crime Regulations (Amendment) 1996 No. 267
EXPLANATORY STATEMENT
Statutory Rules 1996 No. 267
Issued By the Authority of the Attorney-General and Minister for Justice
Proceeds of Crime Act 1987
Proceeds of Crime Regulations (Amendment)
Background
Section 104 of the Proceeds of Crime Act 1987 provides that the Governor-General may make regulations for the purposes of the Act.
The Proceeds of Crime Regulations (Amendment) amends the regulations to provide for an increase in the remuneration payable for services performed by the Official Trustee under the Proceeds of Crime Act 1987. That increase is made to keep the remuneration payable for services performed by the Official Trustee in line with increases for services performed by the Official Trustee under the Bankruptcy Regulations.
The Amendments
Regulation 1 is a procedural clause providing for commencement. The regulations commenced on the date of commencement of Schedule 1 to the Bankruptcy Legislation Amendment Act 1996.
Regulation 2 is a procedural clause.
Regulation 3 amends regulation 8 of the Proceeds of Crime Regulations by substituting the fees for the Official Trustee under paragraph 16.07(8)(c), (d) and (e) as appropriate, of the Bankruptcy Regulations, for the existing fee structure of the Official Trustee under the Proceeds of Crime Regulations. The amendment re-equates the remuneration of the Official Trustee under the Proceeds of Crime Regulations by reference to the Bankruptcy Regulations, removing the need to maintain two identical but separate regulations prescribing the Official Trustee's remuneration.
The existing and increased remuneration based on the rate per hour or part thereof is set out in the following table:
| Existing Hourly Rate | New Hourly Rate |
SES Officer | $200 | $240 |
Senior Officer | $135 | $155 |
Admin. Services Officer | $100 | $130 |
The Regulations commenced on the date of commencement of Schedule 1 to the Bankruptcy Legislation Amendment Act 1996.
Overview
The Proceeds of Crime Regulations (Amendment) 1996 No. 267 was enacted to align the remuneration payable to the Official Trustee for services rendered under the Proceeds of Crime Act 1987 with those stipulated in the Bankruptcy Regulations. This amendment was introduced to address the inequity in remuneration rates between the services provided under these two Acts, ensuring that the remuneration reflects contemporary standards and remains comparable. The regulations were issued by authority of the Attorney-General and Minister for Justice, under Section 104 of the Proceeds of Crime Act 1987, which empowers the Governor-General to make regulations for the purposes of the Act. The policy objective was to streamline and standardise the remuneration structure, thereby simplifying regulatory compliance and reducing administrative burden.
Scope and Application
The Proceeds of Crime Regulations (Amendment) 1996 No. 267 amends the Proceeds of Crime Regulations to adjust the remuneration payable to the Official Trustee for services rendered under the Proceeds of Crime Act 1987. This adjustment aligns the remuneration with the fees set out in the Bankruptcy Regulations, thereby ensuring consistency in the compensation structure for the Official Trustee across both Acts. The amendments do not alter the scope of the Act itself but are aimed at procedural efficiency by harmonising the fee structures. The regulations apply to the Official Trustee and are part of the broader legislative framework governing the handling of proceeds of crime in Australia. The amendments were made to keep pace with changes in the Bankruptcy Regulations and commenced on the date of commencement of Schedule 1 to the Bankruptcy Legislation Amendment Act 1996, thereby ensuring a synchronised application of the updated remuneration rates across related legislative domains.
Key Provisions
The main operative sections of the Proceeds of Crime Regulations (Amendment) 1996 (No. 267) involve updating the remuneration payable to the Official Trustee under the Proceeds of Crime Act 1987 (section 104). Specifically, Regulation 3 amends Regulation 8 of the Proceeds of Crime Regulations, aligning the remuneration of the Official Trustee with that stipulated in the Bankruptcy Regulations. This adjustment ensures that the fees for services rendered by the Official Trustee are consistent across both legislative frameworks, thereby streamlining the regulatory process and eliminating the need to maintain separate, yet identical, fee structures. The new remuneration rates, which came into effect on the date of commencement of Schedule 1 to the Bankruptcy Legislation Amendment Act 1996, are detailed in the explanatory statement.
The Act imposes obligations on the Official Trustee to perform their duties under the Proceeds of Crime Act 1987 and to charge fees that are now aligned with those set forth in the Bankruptcy Regulations. This alignment ensures that the remuneration for services rendered is consistent and fair, reflecting the increased costs associated with the role. The Official Trustee must adhere to the new fee structure as outlined in Regulation 3, which specifies the hourly rates for different categories of officers, namely SES Officers, Senior Officers, and Administrative Services Officers.
The Proceeds of Crime Regulations (Amendment) 1996 (No. 267) does not explicitly outline specific offences, penalties, or consequences for breaches within the amendment itself. However, any failure to adhere to the updated fee structure or to perform duties in accordance with the amended regulations could potentially lead to legal consequences under the broader provisions of the Proceeds of Crime Act 1987 or other relevant legislation. For example, non-compliance could result in disciplinary actions, civil penalties, or legal challenges regarding the validity of the Official Trustee's fees and charges. It is important for the Official Trustee to ensure strict compliance with the new remuneration rates to avoid any legal ramifications.