Document ID: chunk:federal_register_of_legislation:C2004A04677:body:0:p15
Version: federal_register_of_legislation:C2004A04677
Segment Type: other
Provision Reference: 
Character Range: 40278–42904

of amendments—section 157 of the Principal Act

21. The amendments of section 157 of the Principal Act made by this Part apply in relation to the first vacancy on the Board of Directors of the Corporation that occurs after the commencement of this section and to each later vacancy.

Transitional provision—section 159 of the Principal Act

22.(1) This section applies to a person who held office as a Director of the Corporation immediately before the commencement of this section.

(2) The period specified in the person's instrument of appointment has effect, after the commencement of this section, as if it were the period specified for the purposes of section 159 of the Principal Act as amended by this Act.

PART 9—AMENDMENT RELATING TO TAXATION

Exemption from taxation

23. Section 71 of the Principal Act is amended by adding at the end the following subsection:

"(2) Excise duty is not payable by the Commission, or by any other person, on goods that are for use by the Commission.".

Application of amendment

24. Subsection 71 (2) of the Principal Act as amended by this Act applies to excise duty that becomes payable after the commencement of this section.

PART 10—REPEAL OF REDUNDANT PROVISIONS

Heading to Part 6

25. The heading to Part 6 of the Principal Act is amended by omitting "CONSEQUENTIAL AND".

Repeal of Division 2 of Part 6

  26. Division 2 of Part 6 of the Principal Act is repealed.

Repeal of Division 5 of Part 6

  27. Division 5 of Part 6 of the Principal Act is repealed.

Savings

28.(1) Despite the repeal of Division 2 of Part 6 of the Principal Act made by this Part, subsection 203(2) of the Principal Act continues to apply, after the commencement of this section, as if the repeal had not been made.

(2) The repeal of Division 5 of Part 6 of the Principal Act made by this Part does not affect the operation of an amendment made by the repealed Division.

PART 11—AMENDMENTS RELATING TO REVIEWS OF THE OPERATION OF THE PRINCIPAL ACT

Repeal of section and substitution of new section

29. Section 26 of the Principal Act is repealed and the following section is substituted:

Review of operation of Act

    "26.(1) The Commission may, from time to time:

    (a) review such aspects of the operation of this Act as it determines in writing; and

  (b) report to the Minister accordingly.

  "(2) The Commission must not review a matter mentioned in section 141.

"(3) The report to the Minister may include suggestions for amendments of this Act to solve problems identified in the report.

"(4) The Minister must cause copies of the report to be laid before each House of