Commonwealth Consolidated Acts Commonwealth Consolidated ActsAct No. 139 of 1999 as amended
This compilation was prepared on 8 October 2009
taking into account amendments up to Act No. 94 of 2009
The text of any of those amendments not in force
on that date is appended in the Notes section
The operation of amendments that have been incorporated may
be
affected by application provisions that are set out in the Notes section
Prepared by the Office of Legislative Drafting and
Publishing,
Attorney‑General's Department, Canberra
Contents
Part 1--Preliminary 1
1............ Short title [see Note 1] ....................................................................... 1
2............ Commencement [see Note 1] .............................................................. 1
3............ Purpose of the Act ............................................................................. 1
4............ Overview of the Act ........................................................................... 1
5............ Offences .............................................................................................. 4
6............ Definitions .......................................................................................... 4
6A......... Approved plant and equipment and approved research and development 16
6B......... Plant and equipment sold by participant ......................................... 18
6C......... When investment undertaken by a person may be treated as investment undertaken by another person who is a participant ........................................................................................ 18
7............ Meaning of production of goods and provision of services in Australia 20
8............ Approved forms ............................................................................... 21
9............ Arm's length transactions ................................................................. 22
10.......... Determination of entitlement to credit between participants ........... 23
11.......... Other Commonwealth assistance ..................................................... 23
Part 2--Establishment of, and participation in, ACIS 25
Division 1--Overview 25
12.......... Overview of Part .............................................................................. 25
Division 2--Establishment of ACIS 26
13.......... Establishment of Automotive Competitiveness and Investment Scheme 26
Division 3--Registration under ACIS 27
Subdivision A--Rules about registration 27
14.......... Rules about the number of registrations a person may have under ACIS 27
14A....... Rule about registrations under ACIS needing to further the purpose of the Act 27
14B....... Minister may make guidelines relating to registration for the purpose of the Act 28
15.......... Rule about the effect of further applications for registration on existing registrations 28
Subdivision B--Applications for registration 29
16.......... Application for MVP registration .................................................... 29
17.......... Application for ACP registration ..................................................... 29
18.......... Application for AMTP registration ................................................. 31
19.......... Application for ASP registration ...................................................... 32
20.......... Ministerial permission to apply for registration in the national interest 32
Division 4--Participation in ACIS by groups of companies 35
21.......... Certain groups of companies may seek permission to apply for registration as a single entity 35
22.......... Legal status of a group permitted to make application for registration 36
Division 5--Formal requirements for, and consideration of, applications for registration 37
23.......... The content of the application for registration ................................. 37
24.......... Lodgment of applications ................................................................. 37
25.......... When to apply .................................................................................. 38
26.......... Consideration of registration applications ........................................ 38
27.......... Secretary may seek further information ........................................... 39
28.......... Date from which registration takes effect ......................................... 39
29.......... Fit and proper person ....................................................................... 40
Division 6--Ongoing requirements of registration 42
30.......... Ongoing requirement of MVP registration ....................................... 42
31.......... Ongoing requirement of ACP registration ........................................ 42
32.......... Ongoing requirement of AMTP registration .................................... 43
33.......... Ongoing requirement of ASP registration ......................................... 44
34.......... When do ongoing registration requirements for particular participants need to be met? 44
Part 3--The making of returns by participants 45
35.......... Participants to make quarterly returns ............................................. 45
36.......... Contents of MVPs' returns .............................................................. 45
37.......... Contents of ACPs' returns ............................................................... 46
38.......... Contents of AMTPs' returns ........................................................... 46
39.......... Contents of ASPs' returns ............................................................... 47
40.......... Rules concerning returns ................................................................... 47
Part 4--Working out unmodulated credit 49
Division 1--Overview 49
41.......... Overview of Part .............................................................................. 49
Division 2--Working out unmodulated production credit and unmodulated investment credit for MVPs 50
42.......... Secretary to work out unmodulated production credit for each MVP 50
43.......... Secretary to work out unmodulated type A credit for each MVP ... 51
44.......... Secretary to work out unmodulated type B credit for each MVP ... 51
45.......... Secretary to work out unmodulated type C credit for each MVP ... 52
Division 3--Working out unmodulated investment credit for ACPs 54
46.......... Secretary to work out unmodulated type D credit for each ACP .... 54
47.......... Secretary to work out unmodulated type E credit for each ACP ..... 54
Division 4--Working out unmodulated investment credit for AMTPs 56
48.......... Secretary to work out unmodulated type F credit for each AMTP . 56
49.......... Secretary to work out unmodulated type G credit for each AMTP 56
Division 5--Working out unmodulated investment credit for ASPs 58
50.......... Secretary to work out unmodulated type H credit for each ASP ..... 58
51.......... Secretary to work out unmodulated type I credit for each ASP ...... 58
Part 5--Modulation of unmodulated credit 60
Division 1--Overview 60
52.......... Overview of Part .............................................................................. 60
Division 2--Caps on scheme and participants 61
53.......... Stage caps on ACIS .......................................................................... 61
53A....... Ledger treatment of amounts recovered under the ACIS (Unearned Credit Liability) Act 1999 62
54.......... 5% of sales limit on participants ...................................................... 63
Division 3--Guidelines for modulation 65
55.......... Minister must make modulation guidelines ...................................... 65
Division 4--MVP credit 66
56.......... Secretary to modulate capped production credit for each MVP ...... 66
57.......... Secretary to modulate investment credit for each MVP ................... 66
58.......... Secretary must modulate in accordance with Ministerial guidelines 66
Division 5--ACP, AMTP and ASP credit 67
59.......... Secretary to modulate investment credit for each ACP, AMTP and ASP 67
60.......... Secretary must modulate in accordance with Ministerial guidelines 67
Part 5A--Research and development scheme 68
60A....... Research and development scheme ................................................... 68
60B....... Variation of R&D scheme ................................................................. 68
Part 6--The ACIS ledger and its maintenance 70
Division 1--Overview 70
61.......... Overview of Part .............................................................................. 70
Division 2--Establishment and maintenance of the ledger 71
62.......... Establishment and maintenance of ACIS ledger ............................... 71
63.......... Information to be kept in ledger ....................................................... 71
64.......... Entry of credit in the ledger .............................................................. 71
65.......... Effect of entering credit in the ACIS ledger ...................................... 72
66.......... Circumstances in which the Secretary must amend the ledger ......... 72
67.......... Ledger to show balance of credit ...................................................... 73
68.......... Person may apply to Secretary to fix an error in ledger ................... 73
69.......... Electronic access to ledger ................................................................ 73
70.......... Secretary to notify owner of credit quarterly of changes to ledger .. 74
Division 3--Period in which entries in ledger to be made 75
71.......... Time in which entries to be made ..................................................... 75
Division 4--No liability for ledger entries 76
73.......... Secretary not liable in certain circumstances .................................... 76
Part 7--Dealing in and use of duty credit 77
Division 1--Overview 77
74.......... Overview of Part .............................................................................. 77
Division 1A--Use and expiry of duty credits 78
74A....... Use and expiry of duty credits ......................................................... 78
74B....... How application of previously paid duty credits to be made .......... 78
Division 2--Transfer of credit 79
75.......... Duty credit transferable .................................................................... 79
Division 3--Minister may limit use of credit in certain circumstances 80
76.......... Minister may limit use of modulated ACP, AMTP or ASP investment credit 80
77.......... Minister may limit use of certain production credit ......................... 80
Part 8--Audit 82
Division 1--Overview 82
78.......... Overview of Part .............................................................................. 82
Division 2--Appointment of authorised officers and identity cards 83
79.......... Appointment of authorised officers ................................................. 83
80.......... Identity cards .................................................................................... 83
Division 3--Powers of authorised officer 84
Subdivision A--Monitoring powers 84
81.......... Authorised officer may enter premises by consent or under monitoring warrant to check information provided under ACIS or to check compliance with the Act ...................................... 84
82.......... Monitoring powers of authorised officers ........................................ 84
Subdivision B--Power of authorised officer to ask questions and seek production in certain circumstances 86
83.......... Authorised officer may request persons to answer questions ......... 86
Division 4--Obligations and incidental powers of authorised officers 88
84.......... Authorised officer must produce identity card on request ............... 88
85.......... Consent ............................................................................................. 88
86.......... Announcement before entry ............................................................. 88
87.......... Details of monitoring warrant to be given to occupier etc. before entry 88
88.......... Use of electronic equipment in exercising monitoring powers ......... 89
89.......... Compensation for damage to electronic equipment .......................... 90
Division 5--Occupier's rights and responsibilities 91
90.......... Occupier entitled to be present during execution of monitoring warrant 91
91.......... Occupier to provide authorised officer with all facilities and assistance 91
Division 6--Warrants 92
92.......... Monitoring warrants ......................................................................... 92
Part 9--Unearned duty credit 93
Division 1--Overview 93
93.......... Overview of Part .............................................................................. 93
Division 2--Unearned credit liability 94
94.......... Person not entitled to certain duty credit ......................................... 94
95.......... Unearned credit liability ................................................................... 95
96.......... Amount of unearned credit liability .................................................. 95
Division 3--Offsetting of duty credit against unearned credit liability 96
97.......... Duty credit to be offset against liability ........................................... 96
98.......... Offsetting of duty credit of the same kind ....................................... 96
99.......... Offsetting of other kinds of duty credit ........................................... 96
100........ Order in which credit to be offset ..................................................... 97
101........ Amount of unearned credit liability outstanding .............................. 97
102........ Secretary to issue notice ................................................................... 97
Division 4--Time for payment of unearned credit liability 98
103........ Time for payment of unearned credit liability .................................. 98
104........ Late payment penalty ...................................................................... 98
105........ Extension of time for payment of unearned credit liability .............. 98
106........ Recovery of unearned credit liability and late payment penalty ...... 98
Division 5--Regulations concerning unearned duty credit 99
107........ Regulations may deal with other matters ......................................... 99
Part 10--Obligations relating to documents 100
108........ Document retention obligations ...................................................... 100
109........ Update of business plan ................................................................. 100
Part 11--Deregistration 102
110........ Deregistration ................................................................................. 102
Part 12--Administrative review of certain decisions 104
111........ Review of decisions affecting duty credit ....................................... 104
112........ Limitations on implementation of court decisions concerning duty credit decisions 105
113........ Limitations on implementation of AAT decisions concerning duty credit decisions 106
114........ Review of other decisions ............................................................... 107
Part 13--Administration of Act 109
115........ Secretary may delegate powers ...................................................... 109
115A..... Minister may publish information relating to participants ............ 109
116........ Regulations ..................................................................................... 109
Schedule 1--Consequential amendments 110
Customs Act 1901 110
Notes 111
Notes to
the
ACIS Administration Act 1999 Note 1 The ACIS Administration Act 1999 as shown in this
compilation comprises Act No. 139, 1999 amended as indicated in the Tables
below. For application, saving or transitional provisions made by the
Corporations (Repeals, Consequentials and Transitionals) Act 2001, see
Act No. 55, 2001. For all relevant information pertaining to application, saving
or transitional provisions see Table A. Table of Acts
|
Act |
Number |
Date |
Date of commencement |
Application, saving or transitional provisions |
|
139, 1999 |
3 Nov 1999 |
30 Dec 1999 (see Gazette 1999, No. S627) |
|
|
|
Public Employment (Consequential and Transitional) Amendment Act 1999 |
146, 1999 |
11 Nov 1999 |
Schedule 1 (item 32): (a) |
-- |
|
194, 1999 |
23 Dec 1999 |
Schedule 1: (b) |
-- |
|
|
149, 2000 |
21 Dec 2000 |
21 Dec 2000 |
-- |
|
|
Corporations (Repeals, Consequentials and Transitionals) Act 2001 |
55, 2001 |
28 June 2001 |
Ss. 4-14 and Schedule 3 (items 6-8): 15 July 2001 (see Gazette 2001, No. S285) (c) |
|
|
83, 2002 |
10 Oct 2002 |
Schedule 1 (items 1-4):
1 Jan 2001 |
Sch. 1 (item 5) |
|
|
Industry, Tourism and Resources Legislation Amendment Act 2003 |
21, 2003 |
11 Apr 2003 |
Schedule 1 (items 1-10): 11 October 2003 |
-- |
|
96, 2003 |
14 Oct 2003 |
Schedule 1: 14 Apr 2004 |
Sch. 1 (items |
|
|
as amended by |
|
|
|
|
|
ACIS Administration Amendment Act 2009 |
94, 2009 |
29 Sept 2009 |
Schedule 1 (items 20, 21): [see Table A] |
-- |
|
80, 2004 |
23 June 2004 |
Schedule 1 (items 190, 212, 213, 215): 1 Dec 2004 (see Gazette 2004, No. GN34) |
Sch. 1 (items 212, 213, 215) |
|
|
8, 2007 |
15 Mar 2007 |
Schedule 4 (item 1): Royal Assent |
-- |
|
|
ACIS Administration Amendment (Unearned Credit Liability) Act 2007 |
25, 2007 |
15 Mar 2007 |
15 Mar 2007 |
Sch. 1 (item 4) |
|
Customs Legislation Amendment (Name Change) Act 2009 |
33, 2009 |
22 May 2009 |
Schedule 2 |
-- |
|
ACIS Administration Amendment Act 2009 |
94, 2009 |
29 Sept 2009 |
Schedule 1 (items 1-19): [see s. 2(1) and Note 2] |
-- |
(a) The ACIS Administration Act 1999 was amended by Schedule 1 (item 32) only of the Public Employment (Consequential and Transitional) Amendment Act 1999, subsections 2(1)-(3) of which provide as follows:
(1) In this Act, commencing time means the time when the Public Service Act 1999 commences.
(2) Subject to this section, this Act commences at the commencing time.
(3) If:
(a) an item (the amending item) of a Schedule to this Act is expressed to amend another Act (the amended Act); and
(b) the whole of the amended Act is expressed to commence at one time; and
(c) at the time when the Public Service Act 1999 commences, the amended Act:
(i) has not yet been enacted; or
(ii) has been enacted but has not yet commenced;
then the amending item commences immediately after the commencement of the amended Act.
(b) The ACIS Administration Act 1999 was amended by Schedule 1 only of the Federal Magistrates (Consequential Amendments) Act 1999, subsections 2(2) of which provides as follows:
(2) If the ACIS Administration Act 1999 commences after the commencement of section 1 of this Act, Schedule 1 to this Act commences immediately after the commencement of the ACIS Administration Act 1999.
The ACIS Administration Act 1999 came into operation on 30 Dec 1999 (see Gazette 1999, No. S627)
(c) The ACIS Administration Act 1999 was amended by Schedule 3 (items 6-8) only of the Corporations (Repeals, Consequentials and Transitionals) Act 2001, subsection 2(3) of which provides as follows:
(3) Subject to subsections (4) to (10), Schedule 3 commences, or is taken to have commenced, at the same time as the Corporations Act 2001.
Table of Amendments
|
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
|
|
Provision affected |
How affected |
|
Part 1 |
|
|
am. Nos. 21 and 96, 2003 |
|
|
am. No. 149, 2000; No. 83, 2002; Nos. 21 and 96, 2003; No. 80, 2004 |
|
|
ad. No. 149, 2000 |
|
|
Subhead. to s. 7(6)............. |
am. No. 149, 2000 |
|
am. No. 149, 2000 |
|
|
Heading to s. 10.................. |
am. No. 96, 2003 |
|
am. No. 96, 2003 |
|
|
Part 2 |
|
|
Division 3 |
|
|
Subdivision A |
|
|
rs. No. 149, 2000 |
|
|
ad. No. 149, 2000 |
|
|
rs. No. 149, 2000 |
|
|
Subdivision B |
|
|
am. No. 149, 2000 |
|
|
Division 4 |
|
|
am. No. 55, 2001 |
|
|
Division 5 |
|
|
am. No. 149, 2000 |
|
|
am. No. 149, 2000 |
|
|
am. No. 149, 2000; No. 55, 2001; No. 8, 2007 |
|
|
Division 6 |
|
|
Note to s. 31(1)................... |
ad. No. 149, 2000 |
|
Note to s. 31(2)................... |
ad. No. 149, 2000 |
|
am. No. 149, 2000 |
|
|
Part 3 |
|
|
am. No. 149, 2000 |
|
|
am. No. 96, 2003 |
|
|
Part 4 |
|
|
Division 1 |
|
|
rs. No. 96, 2003 |
|
|
Division 2 |
|
|
am. No. 149, 2000; No. 83, 2002; No. 96, 2003 |
|
|
Note to s. 42(1)................... |
am. No. 83, 2002 |
|
am. No. 149, 2000 |
|
|
Division 3 |
|
|
am. No. 149, 2000 |
|
|
Division 4 |
|
|
am. No. 149, 2000 |
|
|
Division 5 |
|
|
am. No. 149, 2000 |
|
|
Part 5 |
|
|
Division 1 |
|
|
am. No. 96, 2003 |
|
|
Division 2 |
|
|
rs. No. 96, 2003 |
|
|
ad. No. 96, 2003 |
|
|
Heading to s. 54.................. |
am. No. 96, 2003 |
|
Subheads. to s. 54(1)-(3).. |
am. No. 96, 2003 |
|
am. No. 96, 2003 |
|
|
Division 3 |
|
|
am. No. 96, 2003 |
|
|
Division 4 |
|
|
rs. No. 96, 2003 |
|
|
am. No. 96, 2003 |
|
|
Note to s. 57........................ |
ad. No. 96, 2003 |
|
Division 5 |
|
|
am. No. 96, 2003 |
|
|
Part 5A |
|
|
Part 5A................................ |
ad. No. 96, 2003 |
|
ad. No. 96, 2003 |
|
|
Part 6 |
|
|
Division 1 |
|
|
am. No. 96, 2003 |
|
|
Division 2 |
|
|
am. No. 96, 2003 |
|
|
Heading to s. 64.................. |
am. No. 96, 2003 |
|
am. No. 96, 2003 |
|
|
rs. No. 96, 2003 |
|
|
am. Nos. 21 and 96, 2003 |
|
|
am. No. 96, 2003 |
|
|
Division 3 |
|
|
rs. No. 96, 2003 |
|
|
S. 72.................................... |
rep. No. 96, 2003 |
|
Part 7 |
|
|
Division 1 |
|
|
rs. Nos. 21 and 96, 2003 |
|
|
Division 1A |
|
|
Div. 1A of Part 7.................. |
ad. No. 96, 2003 |
|
ad. No. 96, 2003 |
|
|
Div. 2A of Part 7.................. |
ad. No. 21, 2003 |
|
|
rep. No. 96, 2003 |
|
S. 75A................................. |
ad. No. 21, 2003 |
|
|
rep. No. 96, 2003 |
|
Division 3 |
|
|
am. Nos. 21 and 96, 2003 |
|
|
Part 9 |
|
|
Division 2 |
|
|
am. No. 25, 2007 |
|
|
rs. No. 25, 2007 |
|
|
Division 3 |
|
|
am. No. 96, 2003 |
|
|
Part 10 |
|
|
am. No. 149, 2000; No. 96, 2003 |
|
|
Part 11 |
|
|
am. No. 149, 2000 |
|
|
Part 12 |
|
|
am. No. 149, 2000; No. 96, 2003 |
|
|
Heading to s. 112................ |
am. No. 194, 1999 |
|
am. No. 194, 1999; No. 96, 2003 |
|
|
am. No. 96, 2003 |
|
|
am. No. 25, 2007 |
|
|
Part 13 |
|
|
am. No. 146, 1999; No. 21, 2003; No. 33, 2009 |
|
|
ad. No. 96, 2003 |
|
Note 2
ACIS Administration Amendment Act 2009 (No. 94, 2009)
The following amendments commence on 1 July 2010:
Schedule 1
1 Subsection 4(1A)
Omit "3 stages", substitute "2 stages".
2 Paragraph 4(1A)(b)
Omit "2010; and", substitute "2010.".
3 Paragraph 4(1A)(c)
Repeal the paragraph.
4 Paragraph 4(2)(b)
Omit "$2,000,000,000;", substitute "$2,000,000,000.".
5 Paragraph 4(2)(c)
Repeal the paragraph.
6 Subsection 4(2A)
Omit "ACIS Stages 2 and 3", substitute "ACIS Stage 2".
7 Subsection 6(1) (definition of ACIS Stage)
Omit "ACIS Stage 1, ACIS Stage 2 or ACIS Stage 3", substitute "ACIS Stage 1 or ACIS Stage 2".
8 Subsection 6(1) (definition of ACIS Stage 3)
Repeal the definition.
9 Subsection 6(1) (definition of ACIS year)
Omit "1 January 2016", substitute "1 January 2011".
10 Subsection 6(1) (paragraph (b) of the definition of final quarter)
Omit "2010; and", substitute "2010.".
11 Subsection 6(1) (paragraph (c) of the definition of final quarter)
Repeal the paragraph.
12 Subsection 42(1) (formula)
Repeal the formula, substitute:
13 Subsection 42(1) (definition of B)
Repeal the definition, substitute:
B is 7.5%.
14 Subsection 42(1)
Insert:
C is the production value of MVP production by that MVP in the quarter concerned (other than passenger motor vehicles, and specified load‑carrying vehicles, that are sold in the Australian or New Zealand markets).
15 Subsection 42(2) (formula)
Repeal the formula, substitute:
16 Subsection 42(2) (definition of C)
Repeal the definition, substitute:
C has the meaning provided in subsection (1).
17 Subsection 53(1) (table item 3)
Repeal the item.
18 Subsection 53(2)
Omit "ACIS Stages 2 and 3", substitute "ACIS Stage 2".
Note: The heading to subsection 53(2) is altered by omitting "and 3 caps" and substituting "cap".
19 Subsection 62(3)
Omit "3 parts", substitute "2 parts".
As at 8 October 2009 the amendments are not incorporated in this compilation.
Table A
Application, saving or transitional provisions
ACIS Administration Amendment Act 2002 (No. 83, 2002)
Schedule 1
5 Transitional provisions
(1) An MVP may, by notice in writing given to the Secretary, amend a return that was provided to the Secretary before the commencement of this item to take account of the amendments made by this Schedule.
Note: The amendments made by this Schedule operate retrospectively back to the scheme commencement date, which was 1 January 2001.
(2) If the Secretary becomes aware (whether because of receiving an amendment of a return, or otherwise) that a calculation made under section 42 of the ACIS Administration Act 1999 before the commencement of this item is not correct because it does not take account of the amendments made by this Schedule, the Secretary must, as soon as practicable:
(a) amend that calculation to take account of those amendments; and
(b) amend the ACIS ledger accordingly.
ACIS Administration Amendment Act 2003 (No. 96, 2003)
Schedule 1
[NOTE] 88 Participants in ACIS
A person who was a participant in ACIS immediately before the commencement of this item continues to be a participant during ACIS Stage 2 and ACIS Stage 3 unless:
(a) the participant is deregistered under Part 11 of the ACIS Administration Act 1999; or
(b) the participant notifies the Secretary that the person ceases to be a participant.
89 Modulations made under section 56 of the ACIS Administration Act 1999
A modulation of unmodulated capped production credit in relation to an MVP made under section 56 of the ACIS Administration Act 1999 immediately before its repeal and substitution by item 39 of this Schedule, continues in force as if the modulation was made under the substituted section 56.
90 Application of amendments made by items 79 to 86
Items 79 to 86 apply to an application for review of an original decision under section 112 or 113 of the ACIS Administration Act 1999 that is made on or after the commencement of this item.
[NOTE] 91 Application
The amendment made by item 87 applies as follows:
(a) in relation to a participant who was a participant immediately before item 87 commences, the Minister may publish the information referred to in that item in respect of an ACIS year in ACIS Stage 2 or ACIS Stage 3;
(b) in relation to a person who becomes a participant on or after the commencement of item 87, the Minister may publish the information referred to in that item from the day that the person becomes a participant in ACIS.
[NOTE]: ACIS Administration Amendment Act 2009 (No. 94, 2009)
The following amendments commence on 1 July 2010 and amend the ACIS Administration Amendment Act 2003 (No. 96, 2003) as follows:
Schedule 1
20 Item 88 of Schedule 1
Omit "and ACIS Stage 3".
21 Paragraph 91(a) of Schedule 1
Omit "or ACIS Stage 3".
As at 8 October 2009 the amendments are not incorporated in this compilation.
Bankruptcy Legislation Amendment Act 2004 (No. 80, 2004)
Schedule 1
212 Transitional--pre‑commencement deeds and compositions
(1) For the purposes of this item, if a deed of assignment or a deed of arrangement was executed by a debtor and a trustee under Part X of the Bankruptcy Act 1966 before the commencement of this item, the deed is a pre‑commencement deed.
(2) For the purposes of this item, if a composition was accepted before the commencement of this item by a special resolution of a meeting of creditors under section 204 of the Bankruptcy Act 1966, the composition is a pre‑commencement composition.
(3) Despite the repeals and amendments made by Parts 1 and 2 of this Schedule:
(a) the Bankruptcy Act 1966 and regulations under that Act; and
(b) the Acts amended by Part 2 of this Schedule;
continue to apply, in relation to:
(c) a pre‑commencement deed; and
(d) a pre‑commencement composition; and
(e) any matter connected with, or arising out of:
(i) a pre‑commencement deed; or
(ii) a pre‑commencement composition;
as if those repeals had not happened and those amendments had not been made.
213 Transitional--pre‑commencement authorities
(1) For the purposes of this item, if:
(a) an authority given by a debtor under section 188 of the Bankruptcy Act 1966 became effective before the commencement of this item; and
(b) as at the commencement of this item, none of the following had happened:
(i) the execution by the debtor and the trustee of a deed of assignment under Part X of the Bankruptcy Act 1966;
(ii) the execution by the debtor and the trustee of a deed of arrangement under Part X of the Bankruptcy Act 1966;
(iii) the acceptance of a composition by a special resolution of a meeting of the debtor's creditors under section 204 of the Bankruptcy Act 1966;
the authority is a pre‑commencement authority.
(2) Despite the repeals and amendments made by Parts 1 and 2 of this Schedule:
(a) the Bankruptcy Act 1966 and regulations under that Act; and
(b) the Acts amended by Part 2 of this Schedule;
continue to apply, in relation to:
(c) a pre‑commencement authority; and
(d) the control of the debtor's property following a pre‑commencement authority becoming effective; and
(e) a meeting of the debtor's creditors called under a pre‑commencement authority; and
(f) whichever of the following is applicable:
(i) a deed of assignment executed after the commencement of this item by the debtor and the trustee under Part X of the Bankruptcy Act 1966 in accordance with a special resolution of such a meeting;
(ii) a deed of arrangement executed after the commencement of this item by the debtor and the trustee under Part X of the Bankruptcy Act 1966 in accordance with a special resolution of such a meeting;
(iii) a composition accepted after the commencement of this item by a special resolution of such a meeting; and
(g) any other matter connected with, or arising out of:
(i) a pre‑commencement authority; or
(ii) a deed of assignment mentioned in subparagraph (f)(i); or
(iii) a deed of arrangement mentioned in subparagraph (f)(ii); or
(iv) a composition mentioned in subparagraph (f)(iii);
as if those repeals had not happened and those amendments had not been made.
215 Transitional--regulations
(1) The regulations may make provision for matters of a transitional nature arising from the amendments made by Parts 1 and 2 of this Schedule.
(2) The Governor‑General may make regulations for the purposes of subitem (1).
ACIS Administration
Amendment (Unearned Credit Liability) Act 2007
(No. 25, 2007)
Schedule 1
4 Application
The amendments made by this Schedule apply in relation to duty credits issued in respect of a quarter after the final quarter for ACIS Stage 1.