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Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017

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8224

2016-2017

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

 

Treasury Laws Amendment (2017 Enterprise Incentives No.  2) Bill 2017

 

 

 ( 1 )    Schedule  1 , item  1 , page 3 (lines 7 to 13) , omit all the words from and including “ evidence to the end of subsection  588E ( 8A ), substitute:

                   it has been proved that:

                     (a)  subsection 588GA(1) applies in relation to a person and a debt; or

                     (b)  subsection 588WA(1) applies in relation to a corporation and a debt;

it must be presumed that the relevant subsection applies in relation to the person or the corporation and the debt.

[defence]

( 2 )     Schedule  1 , item  2 , page 3 (line 16) , after “ harbour ”, insert “ defence ”.

[defence]

(3)     Schedule 1, item 2, page 3 (lines 19 and 20), omit “Subsection 588G(2) does not apply in relation to a person and a debt if”, substitute “In any proceedings against a person under subsection 588G(2), it is a defen ce if the person proves, in relation to a debt, that”.

 [defence]

( 4 )     Schedule  1 , item  2 , page 4 (line 7) , omit “an evidential”, substitute “a legal”.

 [defence]

(5)     Schedule 1, item 2, page 4 (lines 13 to 15), omit all the words from and including “For” to “whether”, substitute “For the purposes of subsection (1), a course of action is reasonably likely to lead to a better outcome for the company only if”.

 [better outcome]

( 6 )     Schedule  1 , item  2 , page 4 (line 18) , omit “ or ”, substitute “ and ”.

[better outcome]

( 7 )     Schedule  1 , item  2 , page 4 (line 21) , omit “ or ”, substitute “ and ”.

[better outcome]

( 8 )     Schedule  1 , item  2 , page 4 (line 24) , omit “ or ”, substitute “ and ”.

[better outcome]

( 9 )     Schedule  1 , item  2 , page 4 (line 27) , omit “ or ”, substitute “ and ”.

[better outcome]

( 10 )   Schedule  1 , item  2 , page 4 (lines 31 and 32) , omit “an evidential”, substitute “a legal”.

[defence]

( 11 )   Schedule  1 , item  2 , page 6 (lines 4 to 6) , omit the definition of evidential burden in subsection  588GA(7) , substitute:

legal burden , in relation to a matter, means the burden of pro ving the existence of the matter.

[defence]

( 12 )   Schedule  1 , item  4 , page 8 (line 15) , after “ harbour ”, insert “ defence ”.

[defence]

(13)   Schedule 1, item 4, page 8 (lines 17 and 18), omit all words from and including “Subsection” to “debt, if”, substitute “In any proceedings against a corporation under section 588W, it is a defence if ”.

 [defence]

( 14 )   Schedule  1 , item  4 , page 8 (lines 27 and 28) , omit “an evidential”, substitute “a legal”.

[defence]

( 15 )   Schedule  1 , item  4 , page 9 (lines 1 to 3) , omit the definition of evidential burden in subsection  588WA(3) , substitute:

legal burden , in relation to a matter, means the burden of pro ving the existence of the matter.

[defence]