Senate

Supplementary Explanatory Memorandum

(Circulated by the authority of the Treasurer, the Hon. P.J. Keating M.P.)

Commencement Date

Clause 83: Application of amendments

The twelfth amendment proposes the replacement of subclause 83(13) of the Bill. This subclause provides that new Division 6A of Part IIIAA (Transfer of Shareholder Status for Tax Purposes) is to come into effect seven days after the Bill receives Royal Assent. The effect of new subclause 83(13) is that the commencement of the new Division will be deferred until the later of 1 August 1991 or the first day of the month after the Bill receives Royal Assent. [New subclause 83(13)]