House of Representatives

Explanatory Memorandum

(Circulated by authority of the Minister for Finance, Senator the Hon Mathias Cormann)

Notes on Clauses

Preliminary

Clause 1 - Short title

1. Under this clause, if the Bill is enacted, it may be cited as the Statute Update (Smaller Government) Bill 2017.

Clause 2 - Commencement

2. Under this clause, if the Bill is enacted, then the legislation will commence on the day after the Bill receives the Royal Assent.

Clause 3 - Schedules

3. The items set out in Schedule 1 would repeal the Tradespersons' Rights Regulation Act 1946 and make consequential amendments to the Sea Installations Act 1987.

4. The items set out in Schedule 2 would amend the Product Stewardship (Oil) Act 2000.

5. The items set out in Schedule 3 would amend the Product Stewardship Act 2011.

6. The items set out in Schedule 4 would amend the Australian Sports Anti-Doping Authority Act 2006.

7. The items set out in Schedule 5 would amend the Plant Breeder's Rights Act 1994.

8. The items set out in Schedule 6 would repeal the Development Allowance Authority Act 1992 and the Infrastructure Certificate Cancellation Tax Act 1994 and amend the Airports (Transitional) Act 1996, the Income Assessment Act 1936, the Income Tax Assessment Act 1997 and the Tax Administration Act 1953.

9. The items set out in Schedule 7 would amend the Australian Securities and Investments Commission Act 2001.