Senate

Revised Explanatory Memorandum

(Circulated with the authority of the Minister for Finance and Deregulation, Senator the Hon Penny Wong)

VIII. Notes on Schedule 5 - Amending the Renewable Energy (Electricity) Act 2000

68. This Schedule seeks to update a reference to the 'Australian Bureau of Agricultural and Resource Economics and Sciences' (ABARES) in the Renewable Energy (Electricity) Act 2000 (Electricity Act).

69. An explanation of the amendments proposed in Schedule 5 is provided in sequential order.

Update of an organisational name (ABARES)

70. Item 1 updates paragraph 132(1)(c) of the Electricity Act to replace the reference to the 'Australian Bureau of Agriculture and Resource Economics' (ABARE) and instead refer to the organisation that combined ABARE with the 'Bureau of Rural Sciences' in 2010: that is, ABARES.

Application

71. Item 2 clarifies that despite the amendment of paragraph 132(1)(c) of the Electricity Act by Item 1 , paragraph 132(1)(c) of the Electricity Act continues to apply, in relation to a divulgence or communication before the commencement of Item 1 , as if the amendment at Item 1 had not been made.