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Clean Energy Finance Corporation (Abolition) Bill 2014

2013-2014

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Clean Energy Finance Corporation (Abolition) Bill 2014

 

No.      , 2014

 

(Treasury)

 

 

 

A Bill for an Act to abolish the Clean Energy Finance Corporation, and for related purposes

   

   



Contents

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

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

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

Schedule 1—Amendments                                                                                                 4

Part 1—Repeal                                                                                                                   4

Clean Energy Finance Corporation Act 2012                                                       4

Part 2—Amendments                                                                                                     5

Australian Renewable Energy Agency Act 2011                                                    5

Clean Energy Regulator Act 2011                                                                            5

Part 3—Transitional provisions                                                                                 6

Division 1—Introduction                                                                                             6

Division 2—Transfer of assets and liabilities                                                           7

Division 3—Transfer of other matters                                                                      9

Division 4—Special Account                                                                                    11

Division 5—Annual reporting obligation                                                                13

Division 6—Investment reporting obligation                                                         14

Division 7—Officers and employees                                                                       14

Division 8—Miscellaneous                                                                                        15

Division 9—Transitional function                                                                           16

Division 10—Instruments                                                                                         17

Part 4—Repeal of CEFC Transitional Special Account                             18

Clean Energy Finance Corporation (Abolition) Act 2014                                18

 



A Bill for an Act to abolish the Clean Energy Finance Corporation, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the Clean Energy Finance Corporation (Abolition) Act 2014 .

2   Commencement

             (1)  Each provision of this Act 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

Provision(s)

Commencement

Date/Details

1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedule 1, Parts 1 and 2

A single day to be fixed by Proclamation.

However, if the provision(s) do not commence within the period of 6 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

3.  Schedule 1, Part 3, Division 1

The day this Act receives the Royal Assent.

 

4.  Schedule 1, Part 3, Divisions 2 to 5

At the same time as the provision(s) covered by table item 2.

 

5.  Schedule 1, Part 3, Division 6

The day this Act receives the Royal Assent.

 

6.  Schedule 1, Part 3, Divisions 7 and 8

At the same time as the provision(s) covered by table item 2.

 

7.  Schedule 1, Part 3, Divisions 9 and 10

The day this Act receives the Royal Assent.

 

8.  Schedule 1, Part 4

The day (the repeal day ) after the day on which the amount standing to the credit of the CEFC Transitional Special Account established by item 16 of Schedule 1 is reduced to nil.

The Minister must announce the repeal day by notice in the Gazette. The notice is not a legislative instrument.

 

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

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

3   Schedule(s)

                   Each Act 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.