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This is a Bill, not an Act. For current law, see the Acts databases.
1998-1999-2000
The Parliament
of the
Commonwealth of
Australia
THE
SENATE
As read a third
time
ACIS
Administration Amendment Bill 2000
No.
, 2000
A Bill for an Act to
amend the ACIS Administration Act 1999, and for related
purposes
ISBN: 0642 454671
Contents
Part 1—General
amendments 3
Part 2—Consequential amendments on change of term from
“automotive machine tooling” to “automotive
tooling” 19
THIS bill originated in the Senate; and, having this day passed, is now
ready for presentation to the House of Representatives for its
concurrence.
HARRY EVANS
Clerk of the Senate
The Senate
28 November 2000
A Bill for an Act to amend the ACIS Administration Act
1999, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the ACIS Administration Amendment Act
2000.
This Act commences on the day on which it receives the Royal
Assent.
Each Act that is specified in a Schedule to this Act is amended or
repealed as set out in the applicable items in the Schedule concerned, and any
other item in a Schedule to this Act has effect according to its
terms.
1 Subsection 6(1)
Insert:
allowable, in relation to plant and equipment or research and
development, is defined in section 6A.
2 Subsection 6(1) (definition of approved
plant and equipment)
Repeal the definition, substitute:
approved plant and equipment is defined in
section 6A.
3 Subsection 6(1) (definition of approved
research and development)
Repeal the definition, substitute:
approved research and development is defined in
section 6A.
4 Subsection 6(1) (definition of automotive
machine tooling)
Repeal the definition.
5 Subsection 6(1)
Insert:
automotive tooling means tooling of a kind declared by the
regulations to be automotive tooling for the purposes of this Act.
6 Subsection 6(1)
Insert:
for the MVP’s own use, in relation to type B investment
and type C investment, has the meaning provided for in the regulations, if
regulations have been made under subsection (4).
Note: Subsection (4) provides for regulations to be
made stating when automotive components (other than engines or engine
components), automotive machine tools or automotive tooling produced by an MVP
or automotive services provided by an MVP are taken to be produced or provided
for the MVP’s own use.
7 Subsection 6(1)
Insert:
investment undertaken by a participant has a
meaning affected by:
(a) regulations, if regulations have been made under subsection (5);
and
(b) section 6C and any regulations made under
section 6C.
8 Subsection 6(1)
Insert:
maximum claimable value, in relation to allowable plant and
equipment or allowable research and development of a kind, is
defined in section 6A.
9 Subsection 6(1) (at the end of the definition
of type A investment)
Add:
Note 1: See regulations made under subsection (5) for
when particular investment undertaken by an MVP is treated as having
occurred.
Note 2: See section 6C for when investment undertaken
by a person can be treated as investment undertaken by another person who is an
MVP.
10 Subsection 6(1) (at the end of the definition
of type B investment)
Add:
Note 1: See regulations made under subsection (5) for
when particular investment undertaken by an MVP is treated as having
occurred.
Note 2: See section 6C for when investment undertaken
by a person can be treated as investment undertaken by another person who is an
MVP.
11 Subsection 6(1) (at the end of the definition
of type C investment)
Add:
Note 1: See regulations made under subsection (5) for
when particular investment undertaken by an MVP is treated as having
occurred.
Note 2: See section 6C for when investment undertaken
by a person can be treated as investment undertaken by another person who is an
MVP.
12 Subsection 6(1) (at the end of the definition
of type D investment)
Add:
Note 1: See regulations made under subsection (5) for
when particular investment undertaken by an ACP is treated as having
occurred.
Note 2: See section 6C for when investment undertaken
by a person can be treated as investment undertaken by another person who is an
ACP.
13 Subsection 6(1) (at the end of the definition
of type E investment)
Add:
Note 1: See regulations made under subsection (5) for
when particular investment undertaken by an ACP is treated as having
occurred.
Note 2: See section 6C for when investment undertaken
by a person can be treated as investment undertaken by another person who is an
ACP.
14 Subsection 6(1) (definition of type F
investment)
Omit “that is used to produce automotive machine tools or automotive
machine tooling.”, substitute:
that:
(a) is used to produce automotive machine tools or automotive tooling;
or
(b) is used to facilitate the provision of automotive services.
15 Subsection 6(1) (at the end of the definition
of type F investment)
Add:
Note 1: See regulations made under subsection (5) for
when particular investment undertaken by an AMTP is treated as having
occurred.
Note 2: See section 6C for when investment undertaken
by a person can be treated as investment undertaken by another person who is an
AMTP.
16 Subsection 6(1) (definition of type G
investment)
Omit “directed at the production of the automotive machine tools or
automotive machine tooling.”, substitute:
directed:
(a) at the production of the automotive machine tools or automotive
tooling; or
(b) at facilitating the provision of automotive services.
17 Subsection 6(1) (at the end of the definition
of type G investment)
Add:
Note 1: See regulations made under subsection (5) for
when particular investment undertaken by an AMTP is treated as having
occurred.
Note 2: See section 6C for when investment undertaken
by a person can be treated as investment undertaken by another person who is an
AMTP.
18 Subsection 6(1) (at the end of the definition
of type H investment)
Add:
Note 1: See regulations made under subsection (5) for
when particular investment undertaken by an ASP is treated as having
occurred.
Note 2: See section 6C for when investment undertaken
by a person can be treated as investment undertaken by another person who is an
ASP.
19 Subsection 6(1) (at the end of the definition
of type I investment)
Add:
Note 1: See regulations made under subsection (5) for
when particular investment undertaken by an ASP is treated as having
occurred.
Note 2: See section 6C for when investment undertaken
by a person can be treated as investment undertaken by another person who is an
ASP.
20 At the end of
section 6
Add:
Regulations may provide for the meaning of for the MVP’s own
use in the definitions of type B investment and type C
investment
(4) For the purposes of the definition of type B investment
and the definition of type C investment, the regulations
may state the circumstances in which:
(a) automotive components (other than engines or engine components),
automotive machine tools or automotive tooling produced by an MVP are to be
taken to be produced for the MVP’s own use; and
(b) automotive services provided by an MVP are to be taken to be provided
for the MVP’s own use.
Regulations may state when investment undertaken by a participant
is taken to have occurred
(5) The regulations may state:
(a) at what point in time, and in what circumstances, particular
investment undertaken by a participant is taken to have occurred
for the purposes of this Act; and
(b) at what point of time investment determined under section 6C to
be investment undertaken by a participant is taken to have occurred.
Note: See the definitions of each type of eligible
investment.
21 After section 6
Insert:
Outline of what approved plant and equipment and approved research and
development is
(1) There are 2 aspects to approved plant and equipment or approved
research and development:
(a) firstly, the plant and equipment or research and development must be
allowable plant and equipment or allowable research and development;
and
(b) secondly, the allowable plant and equipment or allowable research and
development is only allowed to a given value—the maximum claimable value
in respect of that plant and equipment or research and development.
Meaning of defined terms relating to approved plant and equipment or
approved research and development
(2) In this Act:
allowable, in relation to plant and equipment or research and
development, means plant and equipment or research and development of a kind
declared by the regulations to be allowable.
approved plant and equipment means allowable plant and
equipment of the maximum claimable value allowed.
approved research and development means allowable research
and development of the maximum claimable value allowed.
maximum claimable value, in relation to allowable plant and
equipment or allowable research and development of a kind, means a value in
respect of the allowable plant and equipment or the allowable research and
development either:
(a) worked out using a particular method set out in the regulations in
respect of that kind of allowable plant and equipment or allowable research and
development; or
(b) stated in the regulations in respect of that kind of allowable plant
and equipment or allowable research and development.
Regulations may provide for certain matters relating to plant and
equipment
(3) The regulations may provide for:
(a) the kinds of plant and equipment that are allowable plant and
equipment under this Act; and
(b) in respect of each kind of allowable plant and equipment,
either:
(i) the method of calculating the maximum claimable value of that kind of
allowable plant and equipment for the purposes of this Act; or
(ii) the amount that is to be the maximum claimable value in relation to
that kind of allowable plant and equipment for the purposes of this
Act.
Regulations may provide for certain matters relating to research and
development
(4) The regulations may provide for:
(a) the kinds of research and development that are allowable research and
development under this Act; and
(b) in respect of each kind of allowable research and development,
either:
(i) the method of calculating the maximum claimable value of that kind of
allowable research and development for the purposes of this Act; or
(ii) the amount that is to be the maximum claimable value in relation to
that kind of allowable research and development for the purposes of this
Act.
If approved plant and equipment is sold by, or on behalf of, a
participant, the investment in that plant and equipment is to be treated, for
the purposes of the operation of sections 43, 44, 46, 48 and 50, with
effect from the start of the quarter in which that sale took place, as if the
investment had never occurred.
Outline of section
(1) This section allows the Secretary, in limited circumstances, to treat
investment undertaken by a person who may or may not be a participant (the
original investor) as eligible investment undertaken by another
person who is a participant (the participant). For investment to
be treated in this way:
(a) the participant must apply, in an approved form, to the Secretary;
and
(b) the Secretary must make a determination under subsection (3) that
the circumstances of the relationship between the original investor and the
participant fall within the kinds of circumstances set out in guidelines made
under subsection (2); and
(c) the Secretary must make a determination of a kind referred to in
subsection (4) or (5) in respect of the investment.
Guidelines dealing with the circumstances of the relationship between
the original investor and the participant
(2) The Minister may make guidelines setting out the circumstances in
which the relationship between 2 persons are circumstances in which the
Secretary may make a determination under subsection (3).
Secretary to first determine if original investor and
participant’s circumstances fall within guidelines
(3) The Secretary must examine the circumstances of the relationship
between the original investor and the participant. If, after examining the
circumstances, the Secretary is satisfied that the circumstances fall within the
circumstances set out in the guidelines made under subsection (2), the
Secretary may make a determination to that effect. Only after making that
determination may the Secretary make a determination under subsection (4)
or (5), as appropriate.
Eligible investment undertaken by original investor when original
investor was a participant
(4) If:
(a) the original investor was a participant at the time that the
investment was undertaken; and
(b) the investment was eligible investment of a particular type;
and
(c) the Secretary is satisfied that it is reasonable in all of the
circumstances to allow the investment to be treated as eligible investment of
that type undertaken by the participant;
the Secretary may determine in writing that the eligible investment is
taken to be eligible investment of that type undertaken by the participant. The
determination has effect accordingly.
Original investor not a participant when investment made
(5) If:
(a) the original investor was not a participant at the time the investment
was undertaken; and
(b) the Secretary is satisfied that:
(i) if the investment had been undertaken by a participant, the investment
would be eligible investment of a type specified by the Secretary; and
(ii) it is reasonable in all of the circumstances to allow the investment
by the original investor to be treated as eligible investment undertaken by the
participant;
the Secretary may determine in writing that the investment is:
(c) eligible investment of a type specified by the Secretary;
and
(d) taken to be investment of that type undertaken by the participant. The
determination has effect accordingly.
Minister may determine guidelines
(6) The Minister may determine guidelines that are to be taken into
account by the Secretary in making a decision under subsection (4) or
(5).
Guidelines disallowable instruments
(7) Guidelines made under subsections (2) and (6) are disallowable
instruments within the meaning of section 46A of the Acts Interpretation
Act 1901.
22 Sections 14 and 15
Repeal the sections, substitute:
A person may only have one current registration under ACIS
(1) A person may only have one current registration under ACIS as either
an MVP, ACP, AMTP or ASP.
Participant cannot be registered as a part of a group of related bodies
corporate
(2) If a participant is registered as an individual participant under
ACIS, a group of related bodies corporate of which the participant is a member
must not be registered as a participant while the participant is registered
individually.
Rule for members of a group that is a participant
(3) If a participant is a group of related bodies corporate, a member of
that group must not be registered as an individual participant under ACIS
while:
(a) the member remains a member of the group; and
(b) the group is a participant.
Meaning of group of related bodies corporate
(4) In this section, a reference to a group of related bodies
corporate is a reference to a group of related bodies corporate within
the meaning of sections 9 and 50 of the Corporations Law.
(1) This section applies to an applicant for registration under ACIS other
than an applicant who has been given permission by the Minister under
section 20 to apply for registration.
(2) Even if an applicant to whom this section applies meets the
requirements for registration under ACIS, the Secretary, under section 26,
must not grant the application for registration unless the Secretary is
satisfied that registering the applicant would further the purpose of the Act
set out in section 3.
(3) In this section, requirements for registration under
ACIS means all of the registration requirements applicable to an
applicant to whom this section applies including the requirements set out
in:
(a) if the applicant is applying for registration as an
MVP—paragraph 16(1)(a) or (b); or
(b) if the applicant (not being a group of related companies that is
treated as a single person in accordance with section 21) is applying for
registration as an ACP—paragraph 17(1)(a) or (b); or
(c) if the applicant (being a group of related companies that is treated
as a single person in accordance with section 21) is applying for
registration as an ACP—paragraph 17(2)(a) or (b); or
(d) if the applicant is applying for registration as an
AMTP—paragraph 18(1)(a) or (b); or
(e) if the applicant is applying for registration as an
ASP—paragraph 19(1)(a) or (b).
(1) The Minister may make guidelines to be taken into account by the
Secretary when making a decision:
(a) under paragraph 26(2)(g) to register an applicant; and
(b) under paragraph 110(5)(c) to deregister a participant.
(2) Guidelines made under subsection (1) are disallowable instruments
within the meaning of section 46A of the Acts Interpretation Act
1901.
If:
(a) a participant applies for another registration under ACIS;
and
(b) the Secretary grants the later application;
the original registration ceases to have effect immediately before the day
on which the later application for registration is granted.
23 At the end of
section 17
Add:
(4) The regulations may provide for the meaning of at least one kind
of automotive component for the purposes of this Act.
24 Subsection 23(3)
Repeal the subsection, substitute:
(3) Without limiting paragraph (1)(c), an applicant for registration
must include a business plan of the applicant, containing such particulars as
are required by the form in respect of the period or periods specified in the
form.
(4) A period specified in the form in relation to a business plan may
commence on or after 1 January 1999.
25 After paragraph 26(2)(f)
Insert:
and (g) that registering the applicant would, as required by
section 14A, further the purpose of the Act set out in
section 3;
26 Subsection 26(3)
Omit “to (f)”, substitute “to (g)”.
27 After paragraph 29(1)(a)
Insert:
(aa) any conviction of the person of an offence against the law of a
foreign country;
28 After paragraph 29(2)(a)
Insert:
(aa) any conviction of the company of an offence against the law of a
foreign country;
29 Paragraph 29(2)(b)
Omit “that decision”, substitute “the application for
registration under ACIS”.
30 At the end of subsections 31(1) and
(2)
Add:
Note: Regulations made under subsection 17(4) may provide
for the meaning of at least one kind of automotive
component.
31 Subsection 35(3)
Repeal the subsection.
32 Paragraphs 36(c) and (e)
Repeal the paragraphs.
33 Paragraphs 37(1)(b) and
(d)
Repeal the paragraphs.
34 Paragraph 38(1)(b)
Repeal the paragraph.
35 Paragraph 38(1)(d)
Repeal the paragraph, substitute:
(d) particulars of the sales value by the AMTP in that quarter of
automotive services; and
36 Paragraphs 39(1)(b) and
(d)
Repeal the paragraphs.
37 Subsection 42(1)
Omit “the end of 45 days following each quarter, work out the
unmodulated uncapped production credit for each MVP”, substitute “an
MVP provides a return to the Secretary in respect of a quarter, work out the
unmodulated uncapped production credit for the MVP”.
38 Subsection 42(2)
Omit “the end of 45 days following the end of each quarter, work out
the unmodulated capped production credit for each MVP”, substitute
“an MVP provides a return to the Secretary in respect of a quarter, work
out the unmodulated capped production credit for the MVP”.
39 Section 43
Omit “the end of 45 days following the end of each quarter, work out
the unmodulated investment credit for each MVP”, substitute “an MVP
provides a return to the Secretary in respect of a quarter, work out the
unmodulated investment credit for the MVP”.
40 Sections 44 and 45
Omit “the end of 45 days following the end of each quarter, work out
the unmodulated investment credit for each MVP”, substitute “an MVP
provides a return to the Secretary in respect of a quarter, work out the
unmodulated investment credit for the MVP”.
41 Sections 46 and 47
Omit “the end of 45 days following each quarter, work out the
unmodulated investment credit for each ACP”, substitute “an ACP
provides a return to the Secretary in respect of a quarter, work out the
unmodulated investment credit for the ACP”.
42 Sections 48 and 49
Omit “the end of 45 days following each quarter, work out the
unmodulated investment credit for each AMTP”, substitute “an AMTP
provides a return to the Secretary in respect of a quarter, work out the
unmodulated investment credit for the AMTP”.
43 Sections 50 and 51
Omit “the end of 45 days following each quarter, work out the
unmodulated investment credit for each ASP”, substitute “an ASP
provides a return to the Secretary in respect of a quarter, work out the
unmodulated investment credit for the ASP”.
44 Subsections 109(2), (3) and
(4)
Repeal the subsections, substitute:
First update if participant registered in the first quarter of a
year
(2) If a participant’s registration takes effect in the first
quarter of a year, the participant must provide the first update within the time
allowed under subsection 35(1) for providing a third quarter return in
respect of that year.
Note: Under subsection 35(1), a participant’s return
for a quarter must be provided within 45 days, or such longer period as the
Secretary allows, after the end of the quarter.
First update if participant registered after the first quarter of a
year
(3) If a participant’s registration takes effect after the first
quarter of a year, the participant must provide the first update within the time
allowed under subsection 35(1) for providing a third quarter return in respect
of the year following the year of registration.
Later updates
(4) After a first update has been provided, later updates must be provided
by a participant in each year after the year in which the participant is
required to provide a first update and before 2005. Each update must be provided
within the time allowed under subsection 35(1) for providing a third quarter
return in respect of that subsequent year.
Period update must cover
(5) Each update must cover the period starting on 1 January of the
year next following the date by which it is to be provided under this section
and ending on 31 December 2005.
Meaning of terms used in this section
(6) In this section:
first quarter means the period of 3 months commencing on
1 January of a year.
third quarter means the period of 3 months commencing on
1 July of a year.
45 Subsection 110(4)
Omit “for more than 6 months”.
46 At the end of subsection
110(5)
Add:
; and (c) where the participant was registered on the basis that the
participant’s registration would further the purpose of the Act set out in
section 3 (as required by section 14A)—the Secretary determines
that the registration does not further the purpose of the Act.
47 Before paragraph 111(a)
Insert:
(aa) a decision by the Secretary under subsection 6C(3) that the
circumstances of a relationship between 2 persons do not fall within the
circumstances set out in guidelines made under subsection 6C(2);
(ab) a decision by the Secretary under subsection 6C(4) that it is not
reasonable to allow the investment by an original investor to be treated as
eligible investment by a participant;
(ac) a decision by the Secretary under subparagraph 6C(5)(b)(i) that
investment by an original investor, if undertaken by a participant, would not be
eligible investment;
(ad) a decision by the Secretary under subparagraph 6C(5)(b)(ii) that it
is not reasonable to allow the investment by an original investor to be treated
as eligible investment by a participant;
Part 2—Consequential
amendments on change of term from “automotive machine tooling” to
“automotive tooling”
48 Amendments
The specified provisions listed in this Part are amended by omitting
“machine” from the term “automotive machine
tooling”.
49 Subsection 6(1) (definition of
AMTP)
50 Subsection 6(1) (definition of AMTP,
note)
51 Subsection 6(1) (paragraph (c) of the
definition of production value)
52 Subsection 6(1) (paragraph (b) of the
definition of type B investment)
53 Subsection 6(1) (paragraph (b) of the
definition of type C investment)
54 Subsection 6(1) (paragraph (a) of the
definition of type D investment)
55 Subsection 6(1) (paragraph (a) of the
definition of type E investment)
56 Subsection 7(6) (wherever
occurring)
Note: The heading to subsection 7(6) is altered by omitting
“automotive machine tooling” and substituting
“automotive tooling”.
57 Subsection 18(1) (wherever
occurring)
58 Subsection 32(1) (twice
occurring)
59 Subparagraph
36(1)(d)(ii)
60 Subparagraph 37(1)(c)(i) (twice
occurring)
61 Paragraph 38(1)(c)
62 Subsection 38(2)