House of Representatives

Explanatory Memorandum

(Circulated by authority of the Minister for Resources and Energy, Senator the Hon Warwick Parer)

Notes on Clauses

Clause 1: Short Title

6. Provides for the Act to be cited as the Petroleum Excise (Prices) Amendment Act 1997.

Clause 2: Commencement

7. This clause provides that the Act comes into operation on the first day of the next financial year to minimise administrative complexity.

Clause 3: Schedule

8. This clause 'activates' the items in the Schedule to amend or repeal the existing provisions of the Petroleum Excise (Prices) Act 1987.