Commonwealth: Primary Industries Legislation Amendment (Vegetable Levy) Act 2000 (Cth)

Primary Industries Legislation Amendment (Vegetable Levy) Act 2000 No. 101, 2000 An Act to amend the Primary Industries Levies and Charges Collection (Vegetable) Regulations, and for related purposes Contents 1 Short title 2 Commencement 3 Schedule(s) 4 Application of amendment Schedule 1—Amendments Primary Industries Levies and Charges Collection (Vegetable) Regulations Primary Industries Legislation Amendment (Vegetable Levy) Act 2000 No. 101, 2000 An Act to amend the Primary Industries Levies and Charges Collection (Vegetable) Regulations, and for related purposes [Assented to 6 July 2000] The Parliament of Australia enacts: 1 Short title This Act may be cited as the Primary Industries Legislation Amendment (Vegetable Levy) Act 2000. 2 Commencement This Act is taken to have commenced immediately after the commencement of the Primary Industries Levies and Charges Collection (Vegetable) Regulations. Note: On 1 July 1999 the name of the Primary Industries Levies and Charges Collection (Vegetable) Regulations was changed to the Primary Industries Levies and Charges Collection (Vegetable) Regulations 1996. 3 Schedule(s) Each Act, and each set of regulations, that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms. 4 Application of amendment (1) The amendment made by Schedule 1 applies to vegetables: (a) sold by the producer; or (b) used by the producer in the production of other goods; on or after 1 March 1996 and before 1 July 1999. (2) The amendment made by Schedule 1 is to be disregarded for the purposes of applying clause 7 of Schedule 15 to the Primary Industries (Excise) Levies Act 1999. (3) Nothing in this Act affects the validity of the Primary Industries Levies and Charges Collection (Vegetable) Amendment Regulations 1999 (No. 1). Schedule 1—Amendments Primary Industries Levies and Charges Collection (Vegetable) Regulations 1 Regulation 7 Repeal the regulation, substitute: 7 Rate of levy for the Horticultural Research and Development Corporation (1) For the purposes of section 9 of the Levy Act, the rate of levy for vegetables is 0.5% of the amount paid for the vegetables at the first point of sale. (2) However, if the vegetables are first sold after being processed, the rate of levy is 0.5% of the amount that would have been paid for the vegetables if the vegetables had first been sold before processing. (3) For the purposes of subregulation (2), the amount that would have been paid for the vegetables is: (a) if unprocessed vegetables of the same kind are sold on the same day—the market price for those vegetables on that day; or (b) in any other case—the value of the vegetables immediately before processing. (4) For the purposes of paragraph (3)(b), the value of the vegetables immediately before processing must be substantiated by the producer's financial records in accordance with: (a) Australian Accounting Standard 2 (Management and Presentation of Inventories in the Context of the Historical Cost System), issued by the Australian Accounting Research Foundation, as in force immediately before the vegetables were processed; and (b) Accounting Standard AASB 1019 (Management and Presentation of Inventories in the Context of the Historical Cost System), issued by the Australian Accounting Standards Board, as in force immediately before the vegetables were processed. [Minister's second reading speech made in— House of Representatives on 21 June 2000 Senate on 29 June 2000] (103/00)