Commonwealth of Australia Bills
[Index]
[Search]
[Download]
[Related Items]
[Help]
This is a Bill, not an Act. For current law, see the Acts databases.
FILM LICENSED INVESTMENT COMPANY (CONSEQUENTIAL PROVISIONS) BILL 2005
2004-2005
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Film Licensed Investment Company
(Consequential Provisions) Bill 2005
No. , 2005
(Communications, Information Technology and the Arts)
A Bill for an Act to provide for consequential
matters relating to the enactment of the Film
Licensed Investment Company Act 2005, and for
related purposes
i Film Licensed Investment Company (Consequential Provisions) Bill 2005 No. , 2005
Contents
1
Short title.......................................................................................1
2
Commencement .............................................................................1
3
Schedule(s)....................................................................................2
Schedule 1--Repeal and amendments
3
Part 1--Repeal of previous legislation
3
Film Licensed Investment Company Act 1998
3
Part 2--Other amendments
4
Income Tax Assessment Act 1997
4
Part 3--Savings
6
Film Licensed Investment Company (Consequential Provisions) Bill 2005 No. , 2005 1
A Bill for an Act to provide for consequential
1
matters relating to the enactment of the Film
2
Licensed Investment Company Act 2005, and for
3
related purposes
4
The Parliament of Australia enacts:
5
1 Short title
6
This Act may be cited as the Film Licensed Investment Company
7
(Consequential Provisions) Act 2005.
8
2 Commencement
9
(1) Each provision of this Act specified in column 1 of the table
10
commences, or is taken to have commenced, in accordance with
11
column 2 of the table. Any other statement in column 2 has effect
12
according to its terms.
13
2 Film Licensed Investment Company (Consequential Provisions) Bill 2005 No. ,
2005
1
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 on which this Act receives the
Royal Assent.
2. Schedule 1
At the same time as the Film Licensed
Investment Company Act 2005 commences.
Note:
This table relates only to the provisions of this Act as originally
2
passed by the Parliament and assented to. It will not be expanded to
3
deal with provisions inserted in this Act after assent.
4
(2) Column 3 of the table contains additional information that is not
5
part of this Act. Information in this column may be added to or
6
edited in any published version of this Act.
7
3 Schedule(s)
8
Each Act that is specified in a Schedule to this Act is amended or
9
repealed as set out in the applicable items in the Schedule
10
concerned, and any other item in a Schedule to this Act has effect
11
according to its terms.
12
Repeal and amendments Schedule 1
Repeal of previous legislation Part 1
Film Licensed Investment Company (Consequential Provisions) Bill 2005 No. , 2005
3
1
Schedule 1--Repeal and amendments
2
Part 1--Repeal of previous legislation
3
Film Licensed Investment Company Act 1998
4
1 The whole of the Act
5
Repeal the Act.
6
Schedule 1 Repeal and amendments
Part 2 Other amendments
4 Film Licensed Investment Company (Consequential Provisions) Bill 2005 No. ,
2005
1
Part 2--Other amendments
2
Income Tax Assessment Act 1997
3
2 Section 375-850
4
Omit "1 July 2000", substitute "30 June 2007".
5
3 Section 375-850
6
Omit "FLICs", substitute "a FLIC".
7
4 Subsection 375-855(1) (note)
8
Omit "1998", substitute "2005".
9
5 Subsection 375-855(1) (note)
10
Omit "2000", substitute "2007".
11
6 Subsection 375-855(2)
12
Omit "1998", substitute "2005".
13
7 Subsection 375-855(2) (note)
14
Omit "1998", substitute "2005".
15
8 Subsection 375-855(2) (note)
16
Omit "5", substitute "6".
17
9 Subsection 375-860(2) (note)
18
Omit "15", substitute "13".
19
10 Subsection 375-860(2) (note)
20
Omit "1998", substitute "2005".
21
11 Subsection 375-865(1) (note)
22
Repeal the note, substitute:
23
Note:
The Arts Minister may do this if the FLIC in which you hold shares
24
breaches certain requirements under the FLIC's Act. See sections 32
25
and 34 of the Film Licensed Investment Company Act 2005.
26
Repeal and amendments Schedule 1
Other amendments Part 2
Film Licensed Investment Company (Consequential Provisions) Bill 2005 No. , 2005
5
12 Paragraph 375-865(2)(a)
1
Repeal the paragraph, substitute:
2
(a) the
*
FLIC in which you hold the
*
shares has breached a
3
condition under Division 7 of Part 2 of the Film Licensed
4
Investment Company Act 2005, or a requirement under
5
section 34 of that Act; and
6
13 Paragraph 375-865(2)(c)
7
Omit "of conditions".
8
14 Subsection 375-865(2) (note)
9
Repeal the note, substitute:
10
Note:
The Arts Minister's decisions about alleged breaches are made under
11
sections 32 and 34 of the Film Licensed Investment Company Act
12
2005. Subsection (2) above is only relevant in a situation where the
13
Arts Minister has, as far as the Commissioner knows, made no
14
decision under those sections.
15
15 Subsection 375-875(2) (note 1)
16
Omit "1998", substitute "2005".
17
16 Subsection 995-1(1) (definition of Arts Minister)
18
Omit "1998", substitute "2005".
19
Schedule 1 Repeal and amendments
Part 3 Savings
6 Film Licensed Investment Company (Consequential Provisions) Bill 2005 No. ,
2005
1
Part 3--Savings
2
17 Savings
3
The provisions amended or repealed by this Schedule continue to apply,
4
in relation to a company that was a film licensed investment company
5
under the Film Licensed Investment Company Act 1998 immediately
6
before the commencement of this Schedule, as if the amendment or
7
repeal had not happened.
8