Commonwealth of Australia Explanatory Memoranda

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TAX LAWS AMENDMENT (2009 MEASURES NO. 4) BILL 2009

                                  2008-2009





               THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA





                                   SENATE





             Tax laws amendment (2009 measures No. 4) bill 2009








                              CORRECTION TO THE


                           EXPLANATORY MEMORANDUM
















         The following additional paragraph should appear after paragraph
         2.92:


         2.92A    This treatment is consistent with the movement of
         responsibility for the administration of PPFs to the Commissioner.
         Parliamentary scrutiny will be maintained, as the declaration will
         be by way of legislative instrument which is reviewable (and
         disallowable) by either House of Parliament.  This is consistent
         with the current prescription mechanism undertaken by the Governor-
         General.





                     (Circulated by the authority of the
                      Treasurer, the Hon Wayne Swan MP)