Purpose

The Bill amends the Constitution Act 1975 ("the Act") to increase the amount of annual salary payable to Governors of Victoria as a consequence of their salary being subject to income tax.

Content and Committee comment

[2]. The amendments come into operation on Royal Assent.

Purpose

The Bill amends the Corporations (Ancillary Provisions) Act 2001 ("the Act") and certain other Victorian Acts as a consequence of the enactment by the Parliament of the Commonwealth of the Financial Services Reform Act 2001. It is necessary to amend the references in Victorian Acts to terminology or concepts that are consistent with the new provisions regulating financial services and markets.

The Commonwealth Financial Services Reform Act 2001 introduces a harmonised regulatory regime for market integrity and consumer protection across the financial services industry.

It introduces a single licensing system for all financial sales and advice, and for financial markets and clearing and settlement facilities. It covers a wide range of financial products, other than credit or consumer credit.

It is necessary to amend references in Victorian Acts to the old chapters 7 or 8 of the Corporations Act and expressions and concepts that are no longer consistent with the new regulatory regime. For instance, the term 'stock exchange' is replaced by 'financial market', licensed dealers and investment advisers will be 'financial services licensees' and insurance agents who were authorised under the repealed Insurance (Agents and Brokers) Act 1984 of the Commonwealth will be licensed financial services licensees under the Corporations Act. This Bill will make the necessary changes.

Content and Committee comment

[2]. The amendments come into operation on Royal Assent.

[3]. Makes consequential amendments shown in the Schedule.

[4]. Extends section 22 of the Act to allow regulations to be made under that Act without complying with Part 2 of the Subordinate Legislation Act 1994 where relevant Acts of the Commonwealth are amended. This avoids having to amend each statutory rule by a separate statutory rule.

[6]. Inserts a new section 24A in the Act to validate things done on or after the commencement of the Commonwealth Act on 11 March 2002 and before the commencement of the provisions in the Bill. The validation only extends to things that would have been valid and lawful if the Bill had been in operation at the relevant time.

Purpose

The Bill amends the Electricity Industry Act 2000 (‘the Act") to impose a licence obligation on electricity retailers to disclose information about greenhouse gas emissions to consumers.

Content and Committee comment

[2]. The amendments come into operation by proclamation but not later than 31 December 2002.

[3]. Inserts a new section 23A and imposes disclosure of information obligation by way of a deemed licence condition. The licensee must include information about greenhouse gas emissions in each bill issued to a customer. Guidelines may be issued by the Essential Services Commission for the purposes of the Bill. The Commission must consult with the Sustainable Energy Authority of Victoria before issuing a guideline.

The Bill contains retrospective provisions to correct a number of errors and inadvertent references. The purpose of the retrospective amendments is to ensure that the legislation is fully effective and be deemed to have been fully effective from the intended original commencement of the provision.

[Clauses]

[2]. Other than the items listed below the provisions in the Bill commence on the day after Royal Assent. A number of items in Schedule 1 have retrospective commencement and are deemed to have come into operation as follows –

(a) item 9 on 16 May 2000;
(b) item 16.1 on 1 January 2002;
(c) item 18 on 21 November 2000;
(d) item 23 on 23 October 2001;
(e) item 44 on 7 February 2002;
|(f) item 60 on 16 May 1989;
(g) item 64 on 1 July 1982.

[3]. Provides for the Acts listed in Schedule 1 to be amended as set out in that Schedule.

{16.1}. Amends the definition of "authorised practitioner" in section 4(1)(b) of the Drugs, Poisons and Controlled Substances Act 1981 ("the Act) to correct a reference to section 5 of the Pharmacists Act 1974 to a reference to section 16A of that Act. The new definition of "authorised practitioner" was inserted by section 96(1) of the Chinese Medicine Registration Act 2000 ("the amending Act"). To ensure that this definition was effective from its commencement, this item is made retrospective to 1 January 2002 being the day section 96(1) of the amending Act came into operation.

{18}. Amends section 117(3) of the Electricity Industry Act 2000 ("the Act") to correct a cross-reference error. Section 117(3) should have referred to sub-sections (1) or (2) and not to sub-sections (2) or (3). To avoid any doubt that section was effective from its commencement, the amendment made retrospective to 21 November 2000 being the date of Royal Assent of the Act.

{23}. Amends section 70(i) of the Essential Services Commission Act 2001 ("the Act") to correct an incorrect reference to a sub-section number in the amendments made by the Act to section 40A of the Electricity Industry Act 2000. The correct reference should have been to sub-section (3) and not to sub-section (2). To avoid any doubt that the amendments made by section 70(i) were effective the amendment is made retrospective to 23 October 2001 being the date of Royal Assent of the principal Act.

{60}. Amends clause 67 in the Second Schedule of the Transfer of Land (Computer Register) Act 1989 ("the Act") to correct a reference to "Presbyterian Trusts Act 1890". The current incorrect reference is to the Presbyterian Church Trust Property Act 1890. To ensure that the amendment made by clause 67 is effective, the item is made retrospective to 16 May 1989 being the date of Royal Assent of the Act.

{64}. This item repeals section 7(2) of the Victorian Sanatoria for Consumptives Act 1911 ("the Act") to make an amendment which was attempted by section 3(2) of the Public Account (Trust Funds) Act 1982 ("the amending Act") but not correctly made. The amending Act purported to repeal section 7(3) of the Act, which did not exist. To ensure that this repeal is effective, this item is made retrospective to 1 July 1982 being the date when the repeal was intended to come into operation in accordance with section 3(2) of the amending Act.

Other amendments include simple typographical errors, grammatical errors, references to superseded Acts and Tribunals, substitutes new definitions resulting from new and amending Acts, repeals superfluous provisions and schedules, corrects punctuation and substitutes new machinery of government nomenclature.

{15}. Substitutes ‘dollar’ for ‘pound’ in section 4(4) the Cultural and Recreational Lands Act 1963.

{35} Repeals spent sections of the Impounding of Livestock Act 1994. The provisions contained amendments to other Acts which have now all come into operation.

{49}. Amends the Parliamentary Committees Act 1968 by repealing paragraph (ba) of section 4D. The provision gave terms of reference to the Scrutiny of Acts and Regulations Committee to consider and report to the Parliament on Acts passed between 3 November 1999 to and 31 December 1999. The term of reference is now a spent provision and may be repealed.

[4]. Provides for the Acts listed in Schedule 2 to be repealed.

Schedule 2

The schedule consists of 107 Acts from 1998, and 1999 that are spent in their operation. They are amending Acts which are now wholly in operation and have been incorporated in the principal Acts they were enacted to amend. They need no longer remain on the Victorian Statute books.

The Committee makes no further comment.

Committee Room
18 March 2002