2010-2011

 

THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA

 

 

 

 

SENATE

 

 

 

 

 

 

 

EXPLANATORY MEMORANDUM

 

 

 

 

 

(Circulated by the authority of the

Minister for Small Business, Minister Assisting on Deregulation and Public Sector Superannuation, Minister Assisting the Minister for Tourism, Senator the Hon Nick Sherry)

Glossary.............................................................................................................. 3

General outline and financial impact............................................................ 4

Notes on Clauses............................................................................................. 5

 

The following abbreviations and acronyms are used throughout this explanatory memorandum.

Abbreviation	Definition
Application Bill	Business Names Registration (Application of Consequential Amendments) Bill 2011
Change-over day	The day on which Part 2 of the Business Names Registration Act 2011 commences
COAG	Council of Australian Governments
Fees Act	Business Names Registration (Fees) Act 2011
National Business Name Registration Package	Business Names Registration Act 2011, Business Names Registration (Transitional and Consequential Provisions) Act 2011 and the Business Names Registration (Fees) Act 2011 and other legislative instruments
Register	Business Names Register
Registration Act	Business Names Registration Act 2011
Registration System	National Business Name Registration System
Transitional Act	Business Names Registration (Transitional and Consequential Provisions) Act 2011

 

Outline

A National Business Names Registration System is a key part of COAG’s reform agenda aimed at driving productivity growth and forms part of the COAG National Partnership Agreement (NPA) to deliver a Seamless National Economy.

The main purpose of business name registration is to protect consumers, by allowing them to identify the entity behind a business name.

The Business Names Registration (Application of Consequential Amendments) Bill 2011 clarifies that consequential amendments to other Commonwealth Acts will not apply until the National Business Names Registration System commences.

Under the Business Names Registration (Transitional and Consequential Provisions) Act 2011 the consequential amendments to a number of other Commonwealth Acts commence before the commencement of the National Business Names Registration System.  Given that these amendments give effect to activities under the national system, it would be impractical for them to apply before the national system commences. 

The Application Bill deals with the application of the consequential amendments of Commonwealth Acts in Part 1 of Schedule 2 of the Transitional Act.

Under the Application Bill, while consequential amendments to the following Commonwealth Acts commence at the time of the first proclamation, they would not apply until “change-over day” which is defined in the legislation, and is the day that the National Business Names Registration System goes live (the second proclamation date):

-             A New Tax System (Australian Business Number) Act 1999

-             ANL Act 1956

-             Bank Integration Act 1991

-             Corporations (Aboriginal and Torres Strait Islander) Act 2006

-             Corporations Act 2001

-             Financial Transaction Reports Act 1988

-             Defence Service Homes Act 1918

-             Olympic Insignia Protection Act 1987

-             Wine Australia Corporation Act 1980

-             Qantas Sale Act 1992

Date of effect :  The Application Bill will commence as detailed in section 2 of the Application Bill.

Proposal announced :  The proposal to transfer responsibility for business name registration to the Commonwealth was announced by COAG on 3 July 2008. 

Financial impact :  The Application Bill does not have any financial impact.

Compliance cost impact :  No net increase in compliance costs.  The replacement of the existing State and Territory business names regimes with a single new Commonwealth business names regime will result in a net reduction in compliance costs for businesses and those transacting with businesses.

 

Clause 1 - Short title

This clause provides for the Bill, once enacted, to be cited as the Business Names Registration (Application of Consequential Amendments) Act 2011.

Clause 2 - Commencement

This clause specifies the commencement dates for the Bill.  This means that Sections 1 to 3 will commence on the day that the Bill receives Royal Assent; Section 4 and Schedule 1 will commence on the day that Part 1 of Schedule 2 of the Business Names Registration (Transitional and Consequential Provisions) Act 2011 commences.

Clause 3 - Schedules

This clause provides that 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.

Schedule 1 - Application of consequential amendments

Item 1 - Application of amendments to the A New Tax System (Australian Business Numbers) Act 1999

This item provides that amendments to the A New Tax System (Australian Business Numbers) Act 1999 made under Item 1 of Schedule 2 of the Transitional Act apply from change-over day .

Item 2 - Application of amendments to the ANL Act 1956 and the Bank Integration Act 1991

This item provides that amendments to the ANL Act 1956 and the Bank Integration Act 1991 made under Items 2, 3, 8 and 9 of Schedule 2 of the Transitional Act apply from change-over day .

Item 3 - Application of amendments to the Corporations (Aboriginal and Torres Strait Islander) Act 2006

This item provides that amendments to the Corporations (Aboriginal and Torres Strait Islander) Act 2006 made under Items 10 to 13 of Schedule 2 of the Transitional Act apply from change-over day .

Item 4 - Application of amendments to the Corporations Act 2001

This item provides that amendments to the Corporations Act 2001 made under Items 15 to 20 of Schedule 2 of the Transitional Act apply from change-over day .

Item 5 - Application of amendments to the Financial Transactions Reports Act 1988

This item provides that amendments to the Financial Transactions Reports Act 1988 made under Items 22 and 23 of Schedule 2 of the Transitional Act apply from change-over day .

Item 6 - Application of amendments to the Defence Service Homes Act 1918 , the Olympic Insignia Protection Act 1987 and the Wine Australia Corporation Act 1980

This item provides that amendments to the Defence Service Homes Act 1918, the Olympic Insignia Protection Act 1987 and the Wine Australia Corporation Act 1980 made under Items 21, 24 and 26 of Schedule 2 of the Transitional Act apply from change-over day .

Item 7 - Application of amendments to the Qantas Sale Act 1992

This item provides that amendments to the Qantas Sale Act 1992 made under Item 25 of Schedule 2 of the Transitional Act apply from change-over day .