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Wednesday, 19 March 1980
Page: 812

Senator DURACK (Western AustraliaAttorneyGeneral) - I move:

That the Bill be now read a second time.

I seek leave to have the second reading speech incorporated in Hansard.

Leave granted.

The speech read as follows-

The purpose of the Bill now before the Senate, which is consequential to the Customs Tariff (Uranium Concentrate Export Duty) Bill 1980, is to amend the Customs Act 1 90 1 to introduce provisions to ensure that the duty imposed by the Customs Tariff (Uranium Concentrate Export Duty) Bill 1980 shall be payable at the rate in force at the time of export and that the duty shall be paid before exportation or within such further period as the collector of customs allows.

Specifically, the export duty will be levied on the amount of anyhydrous triuranium octoxide- U3 08- contained in uranium concentrate that has been authorised for export by the Minister for Trade and Resources (Mr Anthony). In addition, to avoid difficulties with adjustments to sales contracts that have been negotiated at a particular price, the Government has further decided that any variation to the rate of export duty will not require a variation to the sale price. To achieve this, provision is made in the Bill for section 1 52 of the principal Act to be altered in the same way as it was similarly amended for the levy on coal exports. I commend the bill to honourable senators.

Debate (on motion by Senator Georges) adjourned.

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