Customs Tariff Amendment (Greater Sunrise) Bill 2004


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Bills Digest No. 109 2003-04

Customs Tariff Amendment (Greater Sunrise) Bill 2004

WARNING:
This Digest was prepared for debate. It reflects the legislation as introduced and does not canvass subsequent amendments. This Digest does not have any official legal status. Other sources should be consulted to determine the subsequent official status of the Bill.

CONTENTS

Passage History
Purpose
Background
Main Provisions
Contact Officer & Copyright Details


Passage History

Customs Tariff Amendment (Greater Sunrise) Bill 2004

Date Introduced: 10 March 2004

House: House of Representatives

Portfolio: Industry, Tourism and Resources

Commencement: Sections 1 to 3 commence on the day on which the Act receives the Royal Assent. Schedule 1 commences at the same time as Schedule 2 to the Greater Sunrise Unitisation Agreement Implementation Act 2004 commences.

Purpose

The purpose of the Bill is to amend the Customs Tariff Act 1995 to provide duty free entry for goods that are used in petroleum exploration and exploitation in the Eastern Greater Sunrise area located in the Timor Sea. (The Greater Sunrise areas comprise the Eastern Greater Sunrise area and the Western Greater Sunrise area. The Greater Sunrise area overlaps boundaries of joint resource development with Timor-Leste).

Background

The Background to this Bill can be found in the accompanying Bills Digest for the Greater Sunrise Unitisation Agreement Implementation Bill 2004.

Main Provisions

Schedule 1 Amendment to the Customs Tariff Act 1995.

Item 1 provides a broad definition of a 'petroleum activity' associated with the exploration and development of oil and gas reserves.

Item 2 specifies that goods imported for use in a petroleum activity in the Eastern Greater Sunrise area are free of customs duty.

Contact Officer and Copyright Details

Brendan Bailey
22 March 2004
Bills Digest Service
Information and Research Services

This paper has been prepared for general distribution to Senators and Members of the Australian Parliament. While great care is taken to ensure that the paper is accurate and balanced, the paper is written using information publicly available at the time of production. The views expressed are those of the author and should not be attributed to the Information and Research Services (IRS). Advice on legislation or legal policy issues contained in this paper is provided for use in parliamentary debate and for related parliamentary purposes. This paper is not professional legal opinion. Readers are reminded that the paper is not an official parliamentary or Australian government document.

IRS staff are available to discuss the paper's contents with Senators and Members and their staff but not with members of the public.

ISSN 1328-8091
© Commonwealth of Australia 2004

Except to the extent of the uses permitted under the Copyright Act 1968, no part of this publication may be reproduced or transmitted in any form or by any means, including information storage and retrieval systems, without the prior written consent of the Parliamentary Library, other than by Members of the Australian Parliament in the course of their official duties.

Published by the Parliamentary Library, 2004.

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