Commonwealth Numbered Regulations - Explanatory Statements

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PRICES SURVEILLANCE AUTHORITY (REMUNERATION AND ALLOWANCES) REGULATIONS (REPEAL) 1995 NO. 332

Statutory Rules 1995 No. 332

Issued by Authority of the Assistant Treasurer

Prices Surveillance Act 1983

Prices Surveillance Authority (Remuneration and Allowances) Regulations (Repeal)

Subsection 45(1) of the Prices Surveillance Act 1983 (the Principal Act) provides that the Governor-General may make Regulations for the purposes of that Act.

The Competition Policy Reform Act 1995 (CPR Act), which received the Royal Assent on 20 July 1995, makes major amendments to the Principal Act and the Trade Practices Act 1974. Relevantly, by virtue of amendments to be made by Part 3 of the CPR Act, the Trade Practices Commission (TPC) and the Prices Surveillance Authority (PSA) were replaced with the Australian Competition and Consumer Commission (ACCC).

Accordingly, there is no longer any need for the Prices Surveillance Authority (Remuneration and Allowances) Regulations, which will be repealed by the Prices Surveillance Authority (Remuneration and Allowances) Regulations (Repeal).

The regulations commenced on the date of commencement of Part 3 of the CPR Act.