COMMONWEALTH BORROWING LEVY ACT 1987

This compilation was prepared on 3 January 2007
taking into account amendments up to Act No. 160 of 2006

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

Notes to the Commonwealth Borrowing Levy Act 1987

Note 1

The Commonwealth Borrowing Levy Act 1987 as shown in this compilation comprises Act No. 114, 1987 amended as indicated in the Tables below.

The Commonwealth Borrowing Levy Act 1987 was affected by section 52 of the CSL Sale Act 1993.

For application, saving or transitional provisions made by the Corporations (Repeals, Consequentials and Transitionals) Act 2001, see Act No. 55, 2001.

All relevant information pertaining to application, saving or transitional provisions prior to 21 November 1997 is not included in this compilation. For subsequent information see Table A.

Table of Acts

Act	Number and year	Date of Assent	Date of commencement	Application, saving or transitional provisions
Commonwealth Borrowing Levy Act 1987	114, 1987	2 Dec 1987	2 Dec 1987
Commonwealth Borrowing Levy Amendment Act 1988	22, 1988	11 May 1988	30 Apr 1988 (see s. 2 and Gazette 1988, No. S117 )	--
Telecommunications Amendment Act 1988	121, 1988	14 Dec 1988	Ss. 5, 6, 10, 12, 13, 23(2) and 26(1): 1 Jan 1989 (see Gazette 1988, No. S402) Ss. 14, 23(3) and 26(2): 30 June 1989 (see Gazette 1989, No. S216) Remainder: Royal Assent	--
Postal Services Amendment Act 1988	126, 1988	14 Dec 1988	Ss. 4, 5, 9-11, 21(2) and 22(1): 1 Jan 1989 (see Gazette 1988, No. S402) Ss. 12, 21(3) and 22(2): 30 June 1989 (see Gazette 1989, No. S216) Remainder: Royal Assent	--
ANL (Conversion into Public Company) Act 1988	127, 1988	14 Dec 1988	S. 11: 1 July 1989 (see Gazette 1989, No. S210) (a)	--
OTC (Conversion into Public Company) Act 1988	129, 1988	14 Dec 1988	Ss. 7(2), 8(2), 9, 11-22 and 25: 1 Apr 1989 (see Gazette 1989, No. S92) S. 8(1): 16 Mar 1989 (see Gazette 1989, No. S92) S. 8(3): (b) Remainder: Royal Assent	--
Snowy Mountains Engineering Corporation (Conversion into Public Company) Act 1989	66, 1989	19 June 1989	Ss. 4, 6(1), 7(1), 8-10, 12, 14(2), 15 and 16: 1 July 1989 (see Gazette 1989, No. S223) S. 7(2): (c) S. 14(1): 30 June 1989 (see Gazette 1989, No. S223) Remainder: Royal Assent	--
Commonwealth Borrowing Levy Amendment Act 1989	128, 1989	7 Nov 1989	S. 4(a) and (d): 1 July 1989 S. 4(c): 11 May 1989 Remainder: Royal Assent	--
Commonwealth Serum Laboratories (Conversion into Public Company) Act 1990	77, 1990	22 Oct 1990	S. 17: 1 Apr 1991 (see Gazette 1991, No. S75) (d)	--
AUSSAT Repeal Act 1991	145, 1991	21 Oct 1991	Part 3 (ss. 8-12): 1 Feb 1992 (see Gazette 1992, No. S46) Remainder: Royal Assent	--
Snowy Mountains Engineering Corporation Limited Sale Act 1993	54, 1993	27 Oct 1993	S. 44: (e)	S. 42
CSL Sale Act 1993	88, 1993	30 Nov 1993	Part 1 (ss. 1-4), ss. 7 and 47: Royal Assent Ss. 5 and 6: 22 Feb 1991 Remainder: (f)	S. 52
Transport and Communications Legislation Amendment Act 1994	64, 1994	30 May 1994	S. 3(3): Royal Assent (g)	--
AeroSpace Technologies of Australia Limited Sale Act 1994	144, 1994	8 Dec 1994	Part 1 (ss. 1-6), ss. 7-11, Divs. 2 and 3 of Part 2 (ss. 14, 15) and Part 3 (s. 16): 12 Oct 1994 Remainder: (h)	S. 20
Civil Aviation Legislation Amendment Act 1995	82, 1995	30 June 1995	S. 5: 6 July 1995 (see Gazette 1995, No. S270) (i)	--
ANL Sale Act 1995	136, 1995	5 Dec 1995	(j)	--
Housing Loans Insurance Corporation (Transfer of Assets and Abolition) Act 1996	14, 1996	24 June 1996	S. 36: Royal Assent (k)	--
Australian National Railways Commission Sale Act 1997	96, 1997	30 June 1997	Schedule 4 (item 2): Royal Assent (l)	--
Health Insurance Commission (Reform and Separation of Functions) Act 1997	159, 1997	11 Nov 1997	Schedule 1 (item 38): 1 Mar 1998 (see Gazette 1998, No. GN9) (m)	--
Snowy Hydro Corporatisation (Consequential Amendments) Act 1997	177, 1997	21 Nov 1997	28 June 2002 (see s. 2 and Gazette 2002, No. 216)	--
Telstra (Further Dilution of Public Ownership) Act 1999	53, 1999	5 July 1999	5 July 1999	Sch. 1 (item 2) [see Table A]
Corporations (Repeals, Consequentials and Transitionals) Act 2001	55, 2001	28 June 2001	Ss. 4-14 and Schedule 3 (item 124): 15 July 2001 (see Gazette 2001, No. S285) (n)	Ss. 4-14 [see Note 1]
Australian Trade Commission Legislation Amendment Act 2006	56, 2006	21 June 2006	Schedule 3 (item 1): 1 July 2006	--
Medibank Private Sale Act 2006	160, 2006	11 Dec 2006	Schedule 3 (items 1, 2): [see Note 2 and Table A]	Sch. 3 (item 2) [see Table A]

(a) The Commonwealth Borrowing Levy Act 1987 was amended by section 11 only of the ANL (Conversion into Public Company) Act 1988, subsection 2(3) of which provides as follows:

(3) Section 6, subsection 7(2) and sections 9 and 11 commence on a day to be fixed by Proclamation.

(b) Subsection 2(4) of the OTC (Conversion into Public Company) Act 1988 provides as follows:

(4) Subsection 8(3) commences immediately after the commencement of section 11.

Section 11 commenced on 1 April 1989 (see Gazette 1989, No. S92).

(c) Subsection 2(6) of the Snowy Mountains Engineering Corporation (Conversion into Public Company) Act 1989 provides as follows:

(6) Subsection 7(2) commences immediately after section 12.

Section 12 commenced on 1 July 1989 (see Gazette 1989, No. S223).

(d) The Commonwealth Borrowing Levy Act 1987 was amended by section 17 only of the Commonwealth Serum Laboratories (Conversion into Public Company) Act 1990, subsection 2(5) of which provides as follows:

(5) Subject to subsection (6), sections 6, 10, 13 and 17 commence on a day to be fixed by Proclamation for the purposes of this subsection.

(e) The Commonwealth Borrowing Levy Act 1987 was amended by section 44 only of the Snowy Mountains Engineering Corporation Limited Sale Act 1993, subsection 2(2) of which provides as follows:

(2) Sections 5 to 36 (inclusive) and 39 to 44 (inclusive) commence on the sale day.

The sale day was 9 November 1993 (see Gazette 1994, No. S334).

(f) Subsection 2(2) of the CSL Sale Act 1993 provides as follows:

(2) Sections 8 to 46 (inclusive) and sections 48 to 53 (inclusive) commence on the sale day.

The sale day was 3 June 1994 (see Gazette 1994, No. S209).

(g) The Commonwealth Borrowing Levy Act 1987 was amended by subsection 3(3) only of the Transport and Communications Legislation Amendment Act 1994, subsection 2(1) of which provides as follows:

(1) Subject to subsections (2) and (3), this Act commences on the day on which it receives the Royal Assent.

(h) Subsection 2(2) of the AeroSpace Technologies of Australia Limited Sale Act 1994 provides as follows:

(2) The remaining provisions of this Act commence on the ASTA sale day.

The ASTA sale day was 27 June 1995 (see Gazette 1995, No. S271).

(i) The Commonwealth Borrowing Levy Act 1987 was amended by section 5 only of the Civil Aviation Legislation Amendment Act 1995, subsection 2(1) of which provides as follows:

(1) Subject to this section, this Act commences on:

(a) a day to be fixed by Proclamation; or

(b) the first day after the end of the period of 6 months beginning on the day on which this Act receives the Royal Assent;

whichever is earlier.

(j) The ANL Sale Act 1995 was repealed by section 79 of that Act before coming into operation.

(k) The Commonwealth Borrowing Levy Act 1987 was amended by section 36 of the Housing Loans Insurance Corporation (Transfer of Assets and Abolition) Act 1996, subsection 2(1) of which provides as follows:

(1) Parts 1 to 5 commence on the day on which this Act receives the Royal Assent.

Section 36 provides that on the transfer day the schedule to the Commonwealth Borrowing Levy Act is amended.

The Transfer Day was 12 December 1997 (see Gazette 1997, No. S512).

(l) The Commonwealth Borrowing Levy Act 1987 was amended by Schedule 4 (item 2) only of the Australian National Railways Commission Sale Act 1997, subsection 2(4) of which provides as follows:

(4) Item 2 of Schedule 4 commences on the day on which it receives the Royal Assent.

(m) The Commonwealth Borrowing Levy Act 1987 was amended by Schedule 1 (item 38) only of the Health Insurance Commission (Reform and Separation of Functions) Act 1997, subsection 2(2) of which provides as follows:

(2) Subject to subsection (3), Part 2 of Schedule 1 to this Act commences on the fund‑transfer day.

(n) The Commonwealth Borrowing Levy Act 1987 was amended by Schedule 3 (item 124) 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.

ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted
Provision affected	How affected
S. 3......................................	am. No. 128, 1989; No. 55, 2001
Schedule.............................	am. Nos. 22, 121, 126, 127 and 129, 1988; Nos. 66 and 128, 1989; No. 77, 1990; No. 145, 1991; Nos. 54 and 88, 1993; Nos. 64 and 144, 1994; No. 82, 1995; No. 14, 1996; Nos. 96, 159 and 177, 1997; No. 53, 1999; No. 56, 2006

Commonwealth Consolidated Acts

COMMONWEALTH BORROWING LEVY ACT 1987 - NOTES