Explanatory Memorandum
(Circulated by authority of the Minister for Financial Services and Regulation, the Honourable J.B. Hockey, MP)14 - Schedule 11 - Other Miscellaneous minor technical amendments
| Schedule 11 makes various miscellaneous technical amendments. |
14.1 Items 1, 2 and 3 are taken to have commenced immediately after the Financial Sector Reform (Amendments and Transitional Provisions) Act 1998 received Royal Assent.
14.2 Item 4 is taken to have commenced immediately after the No. 1 Act received Royal Assent.
14.3 Item 5 commences at the same time as item 5 of Schedule 10.
Update of legislative references
14.4 This item amends subsection 2(16) of the Financial Sector Reform (Amendments and Transitional Provisions) Act 1998 to change references to the Superannuation Legislation Amendment (Choice of Funds) Act 1998 to the Superannuation Legislation Amendment (Choice of Funds) Act 1999 .
14.5 This item amends subsection 2(17) of the Financial Sector Reform (Amendments and Transitional Provisions) Act 1998 to change references to the Superannuation Legislation Amendment Act 1998 to the Superannuation Legislation Amendment Act 1999 .
14.6 This item repeals and substitutes the heading to Part 3 of Schedule 17 to the Financial Sector Reform (Amendments and Transitional Provisions) Act 1998 , the effect of which is to change a reference to the Superannuation Legislation Amendment Act 1998 to the Superannuation Legislation Amendment Act 1999 .
14.7 This item inserts new subsection 3(7A) in the No. 1 Act to provide that the amendments contained in items 8, 9, 11 and 12 of Schedule 6 to that Act are taken to have commenced immediately after the Financial Sector Reform (Amendments and Transitional Provisions) Act 1998 received Royal Assent.
Amendment to Income Tax Assessment Act
14.8 This item amends subsection 161(3) of the Income Tax Assessment Act 1936 to remove the word physically, as it is unnecessary.