Proceeds of Crime Amendment Regulations 2000 (No. 1)¹

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Proceeds of Crime Act 1987.

Dated 11 October 2000

WILLIAM DEANE

Governor-General

By His Excellency’s Command

Amanda Vanstone

1              Name of Regulations

                These Regulations are the Proceeds of Crime Amendment Regulations 2000 (No. 1).

2              Commencement

                These Regulations commence on gazettal.

3              Amendment of Proceeds of Crime Regulations 1987

                Schedule 1 amends the Proceeds of Crime Regulations 1987.

Schedule 1        Amendments

(regulation 3)

[1]         Regulation 14, heading

substitute

14            Annual management fee for Reserve

[2]         Subregulation 14 (1)

substitute

         (1)   For subparagraph 34C (1) (a) (iv) of the Act, the prescribed annual management fee payable on 27 December 2000 is $10 413.

      (1A)   For subparagraph 34C (1) (a) (iv) of the Act, the prescribed annual management fee payable on 27 December 2001, and for each subsequent year, is $10 840.

      (1B)   A fee mentioned in this regulation is the price of the taxable supply within the meaning of A New Tax System (Goods and Services Tax) Act 1999.

Notes

1.       These Regulations amend Statutory Rules 1987 No. 224, as amended by 1989 No. 236; 1991 No. 460; 1993 No. 199; Act No. 88, 1993; Statutory Rules 1994 Nos. 17 and 238; 1995 Nos. 80 and 325; 1996 Nos. 203 and 267; 1997 Nos. 110 and 240; 1998 No. 335.

2.       Notified in the Commonwealth of Australia Gazette on 18 October 2000.