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Customs Tariff Amendment (Petrol Tax Cut) Bill 2001
Schedule 1 Indexation of customs duty on petroleum

Customs Tariff Act 19 95

1  After subsection 19(1)


          (1A)  If a motion passed under section 6AAB of the Excise Tariff Act 1921 has the effect of decreasing the rate of duty of an excise item set out in column 2 of the Table in subsection (1) in respect of the indexation period beginning on 1 February 2001, a motion of which notice has been given may be moved in either House of the Parliament requiring that the rates of duty set out in the rate column of the subheading in column 1 opposite that item be decreased by the same amount on and from that day, and if the motion is passed the rates of duty are reduced accordingly.

2  Subsection 19(2)

After “subsection (1)”, insert “or (1A)”.

3  Subsection 19(2)

After “increased”, insert “or decreased”.

4  Subsection 19(3)

After “subsection (1)”, insert “or (1A)”.

5  Subsection 19(3)

After “increased” (wherever occurring), insert “or decreased”.