Commonwealth of Australia Explanatory Memoranda Commonwealth of Australia Explanatory Memoranda[Index] [Search] [Download] [Bill] [Help]
2010-2011
THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA
SENATE
Business names registration (APPLICATION OF CONSEQUENTIAL AMENDMENTS) bill
2011
EXPLANATORY MEMORANDUM
(Circulated by the authority of the
Minister for Small Business, Minister Assisting on Deregulation and Public
Sector Superannuation, Minister Assisting the Minister for Tourism, Senator
the Hon Nick Sherry)
Table of contents
Glossary 3
General outline and financial impact 4
Notes on Clauses 5
Glossary
The following abbreviations and acronyms are used throughout this
explanatory memorandum.
|Abbreviation |Definition |
|Application Bill |Business Names Registration |
| |(Application of Consequential|
| |Amendments) Bill 2011 |
|Change-over day |The day on which Part 2 of |
| |the Business Names |
| |Registration Act 2011 |
| |commences |
|COAG |Council of Australian |
| |Governments |
|Fees Act |Business Names Registration |
| |(Fees) Act 2011 |
|National Business |Business Names Registration |
|Name Registration |Act 2011, Business Names |
|Package |Registration (Transitional |
| |and Consequential Provisions)|
| |Act 2011 and the Business |
| |Names Registration (Fees) Act|
| |2011 and other legislative |
| |instruments |
|Register |Business Names Register |
|Registration Act |Business Names Registration |
| |Act 2011 |
|Registration System |National Business Name |
| |Registration System |
|Transitional Act |Business Names Registration |
| |(Transitional and |
| |Consequential Provisions) Act|
| |2011 |
General outline and financial impact
Outline
A National Business Names Registration System is a key part of
COAG's reform agenda aimed at driving productivity growth and forms
part of the COAG National Partnership Agreement (NPA) to deliver a
Seamless National Economy.
The main purpose of business name registration is to protect
consumers, by allowing them to identify the entity behind a
business name.
The Business Names Registration (Application of Consequential
Amendments) Bill 2011 clarifies that consequential amendments to
other Commonwealth Acts will not apply until the National Business
Names Registration System commences.
Under the Business Names Registration (Transitional and
Consequential Provisions) Act 2011 the consequential amendments to
a number of other Commonwealth Acts commence before the
commencement of the National Business Names Registration System.
Given that these amendments give effect to activities under the
national system, it would be impractical for them to apply before
the national system commences.
The Application Bill deals with the application of the
consequential amendments of Commonwealth Acts in Part 1 of Schedule
2 of the Transitional Act.
Under the Application Bill, while consequential amendments to the
following Commonwealth Acts commence at the time of the first
proclamation, they would not apply until "change-over day" which is
defined in the legislation, and is the day that the National
Business Names Registration System goes live (the second
proclamation date):
- A New Tax System (Australian Business Number) Act 1999
- ANL Act 1956
- Bank Integration Act 1991
- Corporations (Aboriginal and Torres Strait Islander) Act 2006
- Corporations Act 2001
- Financial Transaction Reports Act 1988
- Defence Service Homes Act 1918
- Olympic Insignia Protection Act 1987
- Wine Australia Corporation Act 1980
- Qantas Sale Act 1992
Date of effect: The Application Bill will commence as detailed in
section 2 of the Application Bill.
Proposal announced: The proposal to transfer responsibility for
business name registration to the Commonwealth was announced by
COAG on 3 July 2008.
Financial impact: The Application Bill does not have any financial
impact.
Compliance cost impact: No net increase in compliance costs. The
replacement of the existing State and Territory business names
regimes with a single new Commonwealth business names regime will
result in a net reduction in compliance costs for businesses and
those transacting with businesses.
Notes on Clauses
Clause 1 - Short title
This clause provides for the Bill, once enacted, to be cited as the
Business Names Registration (Application of Consequential
Amendments) Act 2011.
Clause 2 - Commencement
This clause specifies the commencement dates for the Bill. This
means that Sections 1 to 3 will commence on the day that the Bill
receives Royal Assent; Section 4 and Schedule 1 will commence on
the day that Part 1 of Schedule 2 of the Business Names
Registration (Transitional and Consequential Provisions) Act 2011
commences.
Clause 3 - Schedules
This clause provides that 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.
Schedule 1 - Application of consequential amendments
Item 1 - Application of amendments to the A New Tax System
(Australian Business Numbers) Act 1999
This item provides that amendments to the A New Tax System
(Australian Business Numbers) Act 1999 made under Item 1 of
Schedule 2 of the Transitional Act apply from change-over day.
Item 2 - Application of amendments to the ANL Act 1956 and the Bank
Integration Act 1991
This item provides that amendments to the ANL Act 1956 and the Bank
Integration Act 1991 made under Items 2, 3, 8 and 9 of Schedule 2
of the Transitional Act apply from change-over day.
Item 3 - Application of amendments to the Corporations (Aboriginal
and Torres Strait Islander) Act 2006
This item provides that amendments to the Corporations (Aboriginal
and Torres Strait Islander) Act 2006 made under Items 10 to 13 of
Schedule 2 of the Transitional Act apply from change-over day.
Item 4 - Application of amendments to the Corporations Act 2001
This item provides that amendments to the Corporations Act 2001
made under Items 15 to 20 of Schedule 2 of the Transitional Act
apply from change-over day.
Item 5 - Application of amendments to the Financial Transactions
Reports Act 1988
This item provides that amendments to the Financial Transactions
Reports Act 1988 made under Items 22 and 23 of Schedule 2 of the
Transitional Act apply from change-over day.
Item 6 - Application of amendments to the Defence Service Homes Act
1918, the Olympic Insignia Protection Act 1987 and the Wine
Australia Corporation Act 1980
This item provides that amendments to the Defence Service Homes Act
1918, the Olympic Insignia Protection Act 1987 and the Wine
Australia Corporation Act 1980 made under Items 21, 24 and 26 of
Schedule 2 of the Transitional Act apply from change-over day.
Item 7 - Application of amendments to the Qantas Sale Act 1992
This item provides that amendments to the Qantas Sale Act 1992 made
under Item 25 of Schedule 2 of the Transitional Act apply from
change-over day.