Trade Support Loans Amendment (Improving Administration) Act 2020
No. 20, 2020
An Act to amend the Trade Support Loans Act 2014, and for related purposes
Contents
1 Short title
2 Commencement
3 Schedules
Schedule 1—Amendments
Trade Support Loans Act 2014
Trade Support Loans Amendment (Improving Administration) Act 2020
No. 20, 2020
An Act to amend the Trade Support Loans Act 2014, and for related purposes
[Assented to 6 March 2020]
The Parliament of Australia enacts:
1 Short title
This Act is the Trade Support Loans Amendment (Improving Administration) Act 2020.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information |
Column 1 | Column 2 | Column 3 |
Provisions | Commencement | Date/Details |
1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table | The day this Act receives the Royal Assent. | 6 March 2020 |
2. Schedule 1 | The day after this Act receives the Royal Assent. | 7 March 2020 |
Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
3 Schedules
Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Amendments
Trade Support Loans Act 2014
1 Paragraph 11(1)(a)
Omit “(the final instalment period)”.
2 Paragraph 11(1)(b)
Repeal the paragraph, substitute:
(b) apart from this section, some or all of the amount is not payable to the person in relation to the instalment period; and
3 Paragraph 11(1)(c)
Omit “section”, substitute “subsection”.
4 Paragraph 11(1)(e)
Omit “final”.
5 Subsection 11(2)
Omit “this section”, substitute “subsection (1)”.
6 At the end of section 11
Add:
(3) If:
(a) an amount paid to a person is taken under subsection (1) to have been an instalment of a trade support loan in relation to an instalment period; and
(b) an instalment of a trade support loan (a later instalment) is payable (or would apart from this subsection be payable) to the person in relation to a later instalment period;
the Secretary may determine that the amount of the later instalment is to be reduced (including reduced to nil). However, the sum of all such reductions connected with the amount mentioned in paragraph (a) must not exceed that amount.
(4) The rules may prescribe circumstances in which the Secretary is to determine under subsection (3) that amounts of later instalments are to be reduced.
7 Paragraph 60(b)
After “within 14 days”, insert “, or within such longer period as is specified under paragraph 62(2)(c),”.
8 At the end of subsection 62(2)
Add:
; and (c) may specify a period, longer than 14 days, for informing the Secretary of a change of the person’s address.
9 Subsection 72(4)
Omit “7 days”, substitute “14 days”.
10 After subsection 90(4)
Insert:
(4A) To avoid doubt, subsection (1) does not apply to a payment to the extent that it is covered by a determination under subsection 11(1).
11 Application provision
The amendments made by this Schedule to section 11 of the Trade Support Loans Act 2014 do not apply in relation to amounts paid before the commencement of this Schedule.
[Minister’s second reading speech made in—
House of Representatives on 28 November 2019
Senate on 10 February 2020]
Overview
The Trade Support Loans Amendment (Improving Administration) Act 2020 was enacted by the Parliament of Australia to amend the Trade Support Loans Act 2014, with the overarching objective of improving the administration of trade support loans. The Act was assented to on 6 March 2020 and commenced on the same day. The legislation seeks to refine the legal framework around the payment and adjustment of trade support loan instalments, allowing for more flexibility in the reduction of future instalments based on past payments, and to extend the timeframes for certain administrative actions such as notifying changes of address. The policy objective of these amendments is to streamline the administrative process and enhance the efficiency with which trade support loans are managed.
Scope and Application
The Trade Support Loans Amendment (Improving Administration) Act 2020 amends the Trade Support Loans Act 2014, targeting the administration of trade support loans to improve efficiency and accuracy. This Act applies to entities and persons involved in trade support loans, particularly those who have received or are to receive such loans, as well as the Commonwealth entities responsible for administering these loans. It does not specify any exclusions or exemptions from its application, implying that its provisions are broadly applicable to all relevant parties unless otherwise stipulated in subordinate instruments. The Act’s provisions commenced on 6 March 2020 for the sections and on 7 March 2020 for the Schedule, with amendments to the Trade Support Loans Act 2014 effective from the day after the commencement of the Schedule. The geographic reach of the Act is national, as it pertains to Commonwealth legislation, thereby impacting trade support loan administration across Australia.
Key Provisions
The Trade Support Loans Amendment (Improving Administration) Act 2020 amends the Trade Support Loans Act 2014, introducing modifications to the administration of trade support loans. Section 11 of the Trade Support Loans Act 2014 is particularly affected, with changes to the definition and treatment of instalments of trade support loans. Specifically, section 11(1) now omits the phrase "(the final instalment period)" and introduces new conditions for the application of instalments, clarifying that some or all of the amount may not be payable to the person for a particular instalment period. Additionally, section 11(1)(e) omits the word "final," and section 11(2) replaces "this section" with "subsection (1)." A new subsection (3) allows the Secretary to reduce the amount of a later instalment if a previous amount was taken to have been an instalment of a trade support loan. The sum of all such reductions must not exceed the amount previously mentioned.
The obligations imposed by the Act on the parties involved primarily pertain to the accurate reporting and timely communication of changes. For example, the Act now allows for a longer period than the previous 14 days for informing the Secretary of a change in address, as specified under paragraph 62(2)(c). This flexibility is intended to enhance administrative efficiency. Furthermore, the Act mandates that if an amount paid is deemed an instalment, the Secretary may reduce subsequent instalments, provided the total reduction does not exceed the initial amount. This measure aims to manage the financial obligations of the recipients more effectively.
Breaches of the provisions under this Act could result in various civil and criminal consequences. The Act does not explicitly detail specific offences, penalties, or consequences for breaches in the provided text. However, in general terms, non-compliance with legislative requirements can lead to administrative actions, fines, or legal proceedings, depending on the severity and nature of the breach. The penalties for such breaches are not specified in the provided excerpt but typically align with the regulatory framework governing financial and administrative compliance in Australia.