EXPLANATORY STATEMENT
Telecommunications (Period for Providing Return of Eligible Revenue) Specification 2010
Telecommunications (Consumer Protection and Service Standards) Act 1999
The Telecommunications (Period for Providing Return of Eligible Revenue) Specification 2010 (“the Instrument”) is made by the Australian Communications and Media Authority (“the ACMA”) pursuant to paragraph 20(2)(a) of the Telecommunications (Consumer Protection and Service Standards) Act 1999 (“the Act”).
The Instrument specifies the period for providing a return of eligible revenue as referred to in the Act.
Legislative Provisions
Paragraph 20(2)(a) of the Act provides that a participating person must lodge a return of eligible revenue with the ACMA within the period specified in writing by the ACMA for providing returns.
The Instrument is a legislative instrument for the purposes of the Legislative Instruments Act 2003.
Consultation
On 29 June 2010, the ACMA undertook a Best Practice Regulation Preliminary Assessment and identified that the change would have low business compliance costs, would not give rise to any additional regulatory obligation and the impact on business would be low.
On 14 July 2010, the ACMA commenced a four week public consultation process, including with telecommunications carriers that operate in the Australian telecommunications industry and Communications Alliance (the peak body for the Australian telecommunications industry) and asked for comments on a proposed change to the eligible revenue return submission date. Details of the consultation process were made available on the ACMA website.
The consultation process advised of the proposed change to the date for lodgement of eligible revenue returns with the ACMA, from 28 September (i.e. 90 days) to 31 October (i.e. four months) following the end of the relevant eligible revenue period for the purposes of paragraph 20(2)(a) of the Act. This change will align the reporting date with the Corporations Act 2001 for public companies and large proprietary companies that have, as most do, a financial year ending on 30 June.
The ACMA considered all responses to the consultation process, and based on the positive nature of all responses made an Instrument in accordance with paragraph 20(2)(a) of the Act.
Notes on the Instrument
Section 1 - Name of Specification
This section sets out the name of the Instrument.
Section 2 - Commencement
This section provides that the Instrument commences on the day after it is registered.
Section 3 - Revocation
This section revokes the instrument that is being replaced by the Instrument.
Section 4 - Period for providing return of eligible revenue
This section specifies that four months following the end of the eligible revenue period is the period specified as the period for providing a return of eligible revenue.