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Thursday, 13 May 1999
Page: 5340

Mr MOORE (Defence) (9:39 AM) —I move:

That the bill be now read a second time.

This bill, along with the ACIS Administration Bill 1999 and the Customs Tariff Amendment (ACIS Implementation) Bill 1999, will implement the government's package of post-2000 initiatives for the automotive industry.

Recovery of Unearned Credit

This bill gives the Department of Industry, Science and Resources the ability to recover ACIS duty credit paid to participants where:

. there has been an error or mistake of fact in calculating a benefit;

. information provided to the department was incorrect or incomplete;

. there is a clerical error or mistake in the ACIS ledger which records the balance of credit; or

. the credit was claimed in respect of a transaction that was not at arms-length and involved `non-arms-length values'.

The ACIS Administration Bill 1999 sets out the circumstances in which credit may have to be paid back to the Commonwealth and sets out a process for recovering unearned credit. This bill imposes the liability. I commend this bill to the House, and the explanatory memorandum for this bill was presented with the first bill of the package.

Debate (on motion by Mr Swan) adjourned.