Explanatory Memorandum
(Circulated by authority of the Minister for Industry, the Honourable Ian MacFarlane MP)Notes on clauses - Trade Supports Loan Bill (Consequential Amendments) Bill 2014
Clause 1 - Short title
Provides for the Act to be cited as the Trade Support Loans (Consequential Amendments Act 2014.
Clause 2 - Commencement
Subclause 2(1) inserts a three column table setting out commencement information for various provisions in the Act. Each provision of the Act specified in column 1 of the table commences (or is taken to have commenced) in accordance with column 2 of the table and any other statement in column 2 has effect according to its terms.
Table Item 1 - Sections 1 to 3 of the Act
Table Item 1 provides that sections 1 to 3 and anything in the Act not elsewhere covered by the table shall commence on Royal Assent.
Table item 2 - Items 1 to 25 of Schedule 1 to the Act
Table item 2 provides that items 1 to 25 of Schedule 1 to the Act shall commence at the same time as sections 3 to 106 of the Trade Support Loans Act 2014 commences.
Table item 3 - Item 26 of Schedule 1 to the Act
Table item 3 provides that item 26 of Schedule 1 shall commence at the same time set out table item 2.
However, item 26 shall not commence at all if item 115 of Schedule 1 to the Minerals Resource Rent Tax Repeal and Other Measures Act 2014 commences at or before that time.
Table item 4 - Item 27 of Schedule 1 to the Act
Table item 4 provides that item 27 of Schedule 1 shall commence immediately after the time set out in table item 2.
However, item 27 shall not commence at all if item 115 of Schedule 1 to the Minerals Resource Rent Tax Repeal and Other Measures Act 2014 does not commence at or before the time set out in table item 2.
Table item 5 - Items 28 to 35 of Schedule 1 to the Act
Table item 5 provides that items 28 to 35 of Schedule 1 shall commence at the same time set out in table item 2.
Subclause 2(2) provides that column 3 of the table is for additional information which may be added to or edited in any published version of the Act but that information is not part of the Act.
Clause 3 - Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.