Federal Register of Legislation - Australian Government

Primary content

Rules/Other as made
This instrument amends the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Rules 2020 to amend the definition of SME entity to accommodate for the businesses that will be eligible to apply for loans under the SME Recovery Loan Scheme.
Administered by: Treasury
Registered 24 Mar 2021
Tabling HistoryDate
Tabled HR25-Mar-2021
Tabled Senate11-May-2021
Date of repeal 12 Aug 2021
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

 

Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Amendment Rules 2021

I, Josh Frydenberg, Treasurer, make the following rules.

Dated 22 March 2021

 

Josh Frydenberg

Treasurer

 

  

  


Contents

1  Name........................................................................................................................................ 1

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

3  Authority.................................................................................................................................. 1

4  Schedules................................................................................................................................. 1

Schedule 1—Amendments                                                                                            2

Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Rules 2020  2

 

 


1  Name

                   This instrument is the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Amendment Rules 2021.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

The day after this instrument is registered.

 

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Amendments

 

Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Rules 2020

1 Paragraph 5(1)(b)

Repeal the paragraph, substitute:

                     (b)  one or more of the following applies:

                              (i)  the entity’s annual turnover for the current year is likely to be less than $250 million;

                             (ii)  the entity carried on a business in one of the 2 financial years immediately before the current year, and its annual turnover in that year was less than $250 million;

                            (iii)  the entity was a non-profit body during one of the 2 financial years immediately before the current year, and its annual turnover in that year was less than $250 million.