Explanatory Memorandum
(circulated by authority of the Minister for Primary Industries and Energy the Hon. John Kerin, MP)Notes on Clauses
Clause 1: Short title etc.
10. This clause provides for the short title of the legislation namely the Petroleum Excise (Prices> Amendment Act 1990.
Clause 2: Commencement
11. This Act is to be taken to have commenced on 26 December 1987.
Clause 3: Interpretation
12. This clause amends subsection {l) of Section 4 of the Principal Act by widening the definition of 'oil producer' to include onshore producers. It also inserts definitions of 'oil producing region' and 'VOLWARE commencement date '
Clause 4: Minister etc. to deter
13. This clause amends Section 5 of the Principal Act to accommodate the consequential changes arising from the calculation of a separate VOLWARE price for each region producing excisable petroleum.
Clause 5: Minister etc. to determine VOLWARE prices
14. This clause amends Section 7 of the Principal Act to take account of the consequential changes arising from the calculation of a separate VOLWARE price for each region producing excisable petroleum and from the need to specify a commencement date in the Regulations for the activation of the VOLWARE price calculations in respect of any production which becomes excisable.
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