EXPLANATORY STATEMENT
Select Legislative Instrument 2010 No. 211
Issued by authority of the Minister for Competition Policy and Consumer Affairs
Trade Practices Act 1974
Trade Practices Amendment Regulations 2010 (No. 3)
Section 172 of the Trade Practices Act 1974 (the Act) provides that the Governor-General may make regulations, not inconsistent with this Act, prescribing all matters that are required or permitted by the Act to be prescribed or are necessary or convenient to be prescribed for carrying out or giving effect to the Act.
The purpose of the amending Regulations is to repeal Part 4 of the Trade Practices Regulations 1974 (the Principal Regulations).
Part 4 of the Principal Regulations currently extends the definition of ‘New Tax System changes’ in Section 75AT of Part VB of the Act. Following the repeal of Part VB of the Act by the Statute Stocktake (Regulatory and Other Laws) Act 2009, Part 4 of the Principal Regulations is now redundant.
The amending Regulations commenced on the day after they were registered on the Federal Register of Legislative Instruments.