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This is a Bill, not an Act. For current law, see the Acts databases.
PARLIAMENT OF VICTORIA
State Owned Enterprises (Amendment) Act 2001
Act No.
TABLE OF PROVISIONS
Clause Page
1. Purpose 1
2. Commencement 2
3. National tax equivalent regime 2
ENDNOTES 5
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Clause Page
THIS PAGE IS TO BE MASKED
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PARLIAMENT OF VICTORIA
Initiated in Assembly 21 March 2001
A BILL
to amend the State Owned Enterprises Act 1992 as a consequence of
the introduction of a national tax equivalent regime and for other
purposes.
State Owned Enterprises (Amendment)
Act 2001
The Parliament of Victoria enacts as follows:
1. Purpose
The purpose of this Act is to amend the State
Owned Enterprises Act 1992 as a consequence
of the introduction of a national tax equivalent
5 regime.
1
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State Owned Enterprises (Amendment) Act 2001
s. 2
Act No.
2. Commencement
This Act comes into operation on the day after the
day on which it receives the Royal Assent.
3. National tax equivalent regime
See:
5 (1) In section 88 of the State Owned Enterprises
Act No.
Act 1992--
90/1992
Reprint No. 3
(a) in sub-section (1)--
as at
14 May 1998
(i) in paragraph (a), after
and
amending
"Commonwealth" insert "(other than a
Act No.
GST law)"1;
10 74/2000.
LawToday:
www.dms. (ii) at the end of paragraph (a) omit "and";
dpc.vic.
gov.au (iii) paragraph (b) is repealed;
(b) in sub-section (2) omit "or ceases to be
entitled to the benefit of the exemption
15 referred to in sub-section (1)(b), as the case
requires".
(2) In section 88 of the State Owned Enterprises
Act 1992, after sub-section (3C) insert--
"(3D) The Treasurer may at any time direct a State
20 owned enterprise--
(a) to enter the NTER; or
(b) to withdraw from the NTER.
(3E) Sub-section (3A) does not apply to a State
owned enterprise that is the subject of a
25 direction under sub-section (3D)(a).".
(3) In section 88 of the State Owned Enterprises
Act 1992, for sub-section (4) substitute--
"(4) The Treasurer may, by instrument, delegate
to--
30 (a) any person or class of persons
employed in the administration of this
2
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State Owned Enterprises (Amendment) Act 2001
s. 3
Act No.
Act, any power of the Treasurer under
this section, other than this power of
delegation;
(b) any person or class of persons
5 employed or engaged in the
administration of the NTER, any power
of the Treasurer under this section in
relation to a State owned enterprise that
is the subject of a direction under sub-
10 section (3D)(a), other than--
(i) this power of delegation; or
(ii) the power in sub-section (1) to
direct a State owned enterprise to
comply with this section; or
15 (iii) the power to make a direction
under sub-section (3D).".
(4) In section 88(6) of the State Owned Enterprises
Act 1992 insert the following definitions--
' "GST law" means any of the following Acts of
20 the Commonwealth--
(a) A New Tax System (Goods and
Services Tax) Act 1999;
(b) A New Tax System (Goods and
Services Tax Imposition--Customs)
25 Act 1999;
(c) A New Tax System (Goods and
Services Tax Imposition--Excise) Act
1999;
(d) A New Tax System (Goods and
30 Services Tax Imposition--General) Act
1999;
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State Owned Enterprises (Amendment) Act 2001
s. 3
Act No.
"NTER" means the National Tax Equivalent
Regime referred to in clause 24 of the
Intergovernmental Agreement on the Reform
of Commonwealth-State Financial Relations
5 set out in the Schedule to the National
Taxation Reform (Consequential
Provisions) Act 2000;'.
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State Owned Enterprises (Amendment) Act 2001
Endnotes
Act No.
ENDNOTES
1
S. 3(1)(a)(i): The Treasurer has power under section 6 of the National
Taxation Reform (Consequential Provisions) Act 2000 to direct State
entities (as defined in that Act) to make GST-equivalent payments.
By Authority. Government Printer for the State of Victoria.
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