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Wednesday, 4 November 1992
Page: 2581

Mr BEDDALL (Minister for Small Business, Construction and Customs) (4.51 p.m.) —I move:

  That the Bill be now read a second time.

This Bill proposes to amend the Customs Tariff (Anti-Dumping) Act 1975 as the second Bill of the legislative package to introduce a new system for dumping and countervailing duties. This Bill introduces the new taxing regime for the imposition and collection of both interim and final dumping and countervailing duties, while the other Bill in the package, which I have just introduced, the Customs Legislation (Anti-Dumping) Bill, provides the mechanism for the determination of interim and final duties as well as introducing the two means by which subsequent adjustments of duty liability can be effected.

  As I noted in the second reading speech for the Customs Legislation (Anti-Dumping) Bill, interim dumping duty imposed under this Bill will be based initially on the difference between the normal value and the export price as determined by the inquiries. Important additional features of the new regime are that the Minister will be able to determine the duty on an ad valorem or specific rate basis and, where the export price falls below the export price ascertained by the inquiry, the difference between these prices will also be collected.

  Interim countervailing duty will be imposed on the basis of the amount of the subsidy identified by the inquiries. In either case, and consistent with Australia's obligations as a signatory to the General Agreement on Tariffs and Trade, the GATT, the Minister will continue to consider the desirability of imposing a lesser rate of duty where this is sufficient to remove injury.

Financial Impact Statement

  The proposed amendments contained in this Bill have no direct financial implications. I commend the Bill to the House and present its explanatory memorandum.

  Debate (on motion by Mr Prosser) adjourned.