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This is a Bill, not an Act. For current law, see the Acts databases.


EXCISE TARIFF AMENDMENT (PER-TONNE CARBON PRICE EQUIVALENT) BILL 2012

2010-2011-2012
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Excise Tariff Amendment (Per-tonne
Carbon Price Equivalent) Bill 2012
No. , 2012
(Treasury)
A Bill for an Act to amend the law relating to excise
tariffs, and for related purposes
i Excise Tariff Amendment (Per-tonne Carbon Price Equivalent) Bill 2012 No. , 2012
Contents
1 Short
title
...........................................................................................
1
2 Commencement
.................................................................................
1
3 Schedule(s)
........................................................................................
2
Schedule 1--Amendments
3
Excise Tariff Act 1921
3
Excise Tariff Amendment (Per-tonne Carbon Price Equivalent) Bill 2012 No. , 2012 1
A Bill for an Act to amend the law relating to excise
1
tariffs, and for related purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act may be cited as the Excise Tariff Amendment (Per-tonne
5
Carbon Price Equivalent) Act 2012.
6
2 Commencement
7
(1) Each provision of this Act specified in column 1 of the table
8
commences, or is taken to have commenced, in accordance with
9
column 2 of the table. Any other statement in column 2 has effect
10
according to its terms.
11
12
2 Excise Tariff Amendment (Per-tonne Carbon Price Equivalent) Bill 2012 No. ,
2012
Commencement information
Column 1
Column 2
Column 3
Provision(s)
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1
Immediately after the commencement of
Part 1 of Schedule 1 to the Clean Energy
Amendment (International Emissions
Trading and Other Measures) Act 2012.
Note:
This table relates only to the provisions of this Act as originally
1
enacted. It will not be amended to deal with any later amendments of
2
this Act.
3
(2) Any information in column 3 of the table is not part of this Act.
4
Information may be inserted in this column, or information in it
5
may be edited, in any published version of this Act.
6
3 Schedule(s)
7
Each Act that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
12
Amendments Schedule 1
Excise Tariff Amendment (Per-tonne Carbon Price Equivalent) Bill 2012 No. , 2012
3
Schedule 1--Amendments
1
2
Excise Tariff Act 1921
3
1 Subsection 3(1) (definition of average carbon unit auction
4
price)
5
Repeal the definition.
6
2 Subsection 3(1)
7
Insert:
8
per-tonne carbon price equivalent for a substitution day
9
mentioned in section 6FA or 6FB means the per-tonne carbon price
10
equivalent that:
11
(a) is worked out under section 196A of the Clean Energy Act
12
2011 for the 6-month period ending at the end of:
13
(i) the last May before the substitution day, if it is 1 July
14
(in 2015 or a later year); or
15
(ii) the last November before the substitution day, if it is
16
1 January (in 2016 or a later year); and
17
(b) is the first per-tonne carbon price equivalent that is worked
18
out under that section for that 6-month period and published
19
under that section.
20
3 Subsection 6FA(3)
21
Repeal the subsection, substitute:
22
(3) The formula is:
23
Per-tonne carbon price equivalent for the substitution day
0.0022
×
24
Note:
Per-tonne carbon price equivalent is defined in subsection 3(1).
25
4 Subsection 6FB(3)
26
Repeal the subsection, substitute:
27
(3) The formula is:
28
Per-tonne carbon price equivalent for the substitution day
0.0026
×
29
Note:
Per-tonne carbon price equivalent is defined in subsection 3(1).
30

 


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