Commonwealth Authorities and Companies Amendment Regulations 1999 (No. 3) 1999 No. 105

EXPLANATORY STATEMENT

STATUTORY RULES 1999 No. 105

Issued by the authority of the Minister for Finance and Administration

Commonwealth Authorities and Companies Act 1997

Commonwealth Authorities and Companies Amendment Regulations 1999 (No. 3)

The attached Statutory Rules make regulations under section 49(1) of the Commonwealth Authorities and Companies Act 1997 (the Act) to amend the Commonwealth Authorities and Companies Regulations 1997 in relation to those authorities that are prescribed as statutory marketing authorities for the purposes of the Act.

Details of the amendments are as follows;

Regulation 1

This names the regulations as the Commonwealth Authorities and Companies Regulations 1999.

Regulation 2

Regulation 2 provides that the amendments are to commence on 1 July 1999.

Regulation 3

This provides that Schedule 1 to these regulations amends the Commonwealth Authorities and Companies Regulations 1997.

Schedule 1

[1], Paragraph 5 (f)

Schedule 1 will omit Item 5f of the regulations which prescribed the Australian Wheat Board (AWB) in the listing of Statutory Marketing Authorities, as the AWB's marketing functions will be transferred to AWB Limited (a private company of wheat growers) with the AWB retaining its regulatory functions under its new name - Wheat Export Authority - from 1 July 1999.