Document ID: chunk:federal_register_of_legislation:C2004A04224:clause:1_6
Version: federal_register_of_legislation:C2004A04224
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 7152–9098

6  Saving of applications made to, and declarations concerning business of, Commission

 (1) Where applications for contracts of insurance, contracts of indemnity, guarantees or loans under Part V of the Australian Trade Commission Act 1985 have been received by the Commission before the commencement of this Act but have not been finally dealt with by the Commission before that commencement, those applications:
 (a) are taken, for the purposes of this Act and of the Export Finance and Insurance Corporation Act 1991, to have been received by EFIC on 1 November 1991; and
 (b) are to be dealt with by EFIC under the relevant provisions of the Export Finance and Insurance Corporation Act 1991; and
 (c) in the case of such of those applications (if any) as the Commission had not, before 1 November 1991 commenced to deal with—are to be dealt with, so far as practicable, in the order in which they were received by the Commission.

 (2) A declaration by the Board of the Commission under section 45 of the Australian Trade Commission Act 1985 specifying a cause of loss as an approved cause of loss for the purposes of Division 3 of Part V of that Act, being a declaration that was in force immediately before 1 November 1991, is, on and after that day, to be treated as if it were a declaration made by EFIC to the same effect under section 21 of the Export Finance and Insurance Corporation Act 1991.

 (3) A declaration by the Minister under subsection 33 (3) of the Australian Trade Commission Act 1985 to the effect that specified goods, or goods included in a specified class of goods, are capital goods for the purposes of subsection 33 (2) of that Act, being a declaration that was in force immediately before 1 November 1991, is, on and after that day, to be treated as if it were a declaration made by the Minister to the same effect for the purposes of subsection 3 (3) of the Export Finance and Insurance Corporation Act 1991.