Commonwealth Numbered Regulations - Explanatory Statements

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TRADE PRACTICES COMMISSION (ALLOWANCES) REGULATIONS (AMENDMENT) 1995 NO. 333

Statutory Rules 1995 No. 333

Issued by Authority of the Assistant Treasurer

Trade Practices Act 1974

Trade Practices Commission (Allowances) Regulations (Amendment)

Subsection 172(1) of the Trade Practices Act 1974 (the Principal Act) provides that the Governor-General may make Regulations for the purposes of the Principal 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 Prices Surveillance Act 1983. 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 have been replaced with the Australian Competition and Consumer Commission (ACCC).

Subsection 9(2) of the Principal Act states that, subject to the Remuneration Tribunal Act 1973, a member of the Commission shall be paid such allowances as are prescribed. These allowances are currently prescribed by the Trade Practices Commission (Allowance) Regulations (the Principal Regulations). The purpose of the Trade Practices Commission (Allowances) Regulations (Amendment) is to amend the Principal Regulations to replace references to the TPC with references to the ACCC.

The Regulations commenced on the date of commencement of Part 3 of the CPR Act, which is scheduled to commence on a date fixed by proclamation. (The proclamation is the subject of a separate Minute.)