Federal Register of Legislation - Australian Government

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A Bill for an Act to amend the Bankruptcy Regulations 1996 in relation to the Exceptional Circumstances Exit Package, and for related purposes
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Registered 08 Jul 2011
Introduced Senate 05 Jul 2011
Table of contents.

 

2010‑2011

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

Bankruptcy Amendment (Exceptional Circumstances Exit Package) Bill 2011

 

No.      , 2011

 

(Senator Xenophon)

 

 

 

A Bill for an Act to amend the Bankruptcy Regulations 1996 in relation to the Exceptional Circumstances Exit Package, and for related purposes

  

  


Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedule(s)......................................................................................... 2

Schedule 1—Amendment of the Bankruptcy Regulations 1996               3

 


A Bill for an Act to amend the Bankruptcy Regulations 1996 in relation to the Exceptional Circumstances Exit Package, and for related purposes

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the Bankruptcy Amendment (Exceptional Circumstances Exit Package) Act 2011.

2  Commencement

                   This Act commences on the day after this Act receives the Royal Assent.

3  Schedule(s)

             (1)  Each Act, and each set of regulations, that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

             (2)  The amendment of any regulation under subsection (1) does not prevent the regulation, as so amended, from being amended or repealed by the Governor‑General.

             (3)  To avoid doubt, regulations amended under subsection (1) are taken to still be regulations.


 

Schedule 1—Amendment of the Bankruptcy Regulations 1996

1  Subregulation 1.03(1) (after the definition of DEP scheme)

Insert:

Exceptional Circumstances Exit Package means the scheme known as the Exceptional Circumstances Exit Package 2007 made under the Exceptional Circumstances Exit Package 2007 Policy Guidelines (Revised November 2010), administered by the Department of Agriculture, Fisheries and Forestry.

2  At the end of regulation 6.04A

Add:

                   ; (c)  Exceptional Circumstances Exit Package.

3  Regulation 6.04B (at the end of the table)

Add:

8

Exceptional Circumstances Exit Package

Assistance is required in the form of a grant to enable a person engaged in the agricultural industry, as a farmer, to exit all agricultural industries

4  Application

The amendments made by items 1, 2 and 3 apply in relation to any grant under the Exceptional Circumstances Exit Package made on or after 1 July 2010, where a final order in bankruptcy has not been made before the commencement of this item.