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COMMONWEALTH AUTHORITIES AND COMPANIES AMENDMENT REGULATIONS 2001 (NO. 1) 2001 NO. 180EXPLANATORY STATEMENT
STATUTORY RULES 2001 No. 180
Issued by the Authority of the Minister for Finance and Administration
Commonwealth Authorities and Companies Act 1997
Commonwealth Authorities and Companies Amendment Regulations 2001 (No. 1)
The attached Statutory Rules make regulations under subsection 49(1) of the Commonwealth Authorities and Companies Act 1997 (CAC Act) to amend the Commonwealth Authorities and Companies Regulations 1997 in relation to certain Commonwealth authorities that are prescribed as Statutory Marketing Authorities for the purposes of the Act.
The amending Regulations remove references to three Statutory Marketing Authorities that have had their enabling legislation repealed. The references no longer have any practical application.
Statutory Marketing Authorities are Commonwealth authorities that are given wider powers under the CAC Act to invest surplus money than is given to other statutory authorities, apart from Government Business Enterprises. To be a Statutory Marketing Authority, the Commonwealth authority must be prescribed under the Regulations.
Statutory Marketing Authorities are prescribed in Regulation 5 of the Commonwealth Authorities and Companies Regulations 1997. The amending Regulations substitute a new Regulation 5 that omits references to:
• the Australian Wool Research and Promotion Organisation (AWRAP),
• the Australian Horticultural Corporation (AHC), and
• the Australian Dried Fruits Board (ADFB).
AWRAP ceased to exist on 1 January 2001 when its enabling legislation, the Australian Wool Research and Promotion Organisation Act 1993, was repealed by the Wool Services Privatisation Act 2001.
The AHC and the ADFB ceased to exist on 1 February 2001 (subject to the point made in the next paragraph) when their enabling legislation, the Australian Horticultural Corporation Act 1987, was repealed by the Horticulture Marketing and Research and Development (Repeals and Consequential Provisions) Act 2000.
Sections 49 and 50 of the Horticulture Marketing and Research and Development (Repeals and Consequential Provisions) Act 2000 continue the existence of the AHC and the ADFB, respectively, for the purpose of providing the responsible Minister with the annual report required by section 9 of the CAC Act in relation to the period 1 July 2000 to 1 February 2001. The attached Amendment Regulation does not affect this obligation.
Details of the amendments are as follows:
The name of the amending Regulations is the Commonwealth Authorities and Companies Amendment Regulations 2001 (No. 1).
The amending Regulations are to commence on gazettal.
Schedule 1 of the amending Regulations amends the Commonwealth Authorities and Companies Regulations 1997.
Schedule 1, Item 1
Item 1 substitutes a new Regulation 5 which lists Commonwealth authorities prescribed as SMA's. The new regulation does not include the AWRAP, the AHC and the ADFB.