Commonwealth legislation

Australia Post (Capital) Regulations

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

157 of 1990

Collection

legislative instrument

Plain English Summary

1/10 complexity

What this does: This regulation ensured a smooth financial transition when Australia Post became a corporation in 1990.

Why it matters: Before 1990, Australia Post operated as a government department under the Postal Services Act 1975. When the Australian Postal Corporation Act 1989 took effect, Australia Post became a corporation. This rule preserved the old method for calculating the "capital" (the government's financial investment in the business) to ensure the opening accounts remained consistent during the transition.

How it works: It treats two different calculation methods as producing equal amounts:

The total determined under paragraph 74(1)(a) of the old Act; and
The total determined under paragraph 74(1)(b), minus any repayments made by the corporation.

This simple accounting adjustment prevented disputes about the starting value of the corporation's capital.

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Current sections

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Australia Post (Capital) Regulations

Commonwealth Coat of Arms of Australia

Statutory Rules 1990 No. 1571

Australia Post (Capital) Regulations

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Australian Postal Corporation Act 1989.

Dated 26 June 1990.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

K. C. Beazley

Minister of State for Transport and Communications

Citation

These Regulations may be cited as the Australia Post (Capital) Regulations.

Commencement

These Regulations commence on 30 June 1990.

Capital

Section 74 of the Postal Services Act 1975 continues to have effect as if the following amounts were equal:

(a) the sum of the amounts determined under paragraph 74 (1) (a) of that Act; and

(b) the sum of the amounts determined under paragraph 74 (1) (b) of that Act, less any repayments made by the Australian Postal Corporation.

NOTE

1. Notified in the Commonwealth of Australia Gazette on 29th June 1990.

Printed by Authority by the Commonwealth Government Printer

(S. R. 206/89)—Cat. No. 14/30.5.1990

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Australia Post (Capital) Regulations

Statutory Rules 1990 No. 1571

Australia Post (Capital) Regulations

Dated 26 June 1990.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

K. C. Beazley

Minister of State for Transport and Communications

Citation

These Regulations may be cited as the Australia Post (Capital) Regulations.

Commencement

These Regulations commence on 30 June 1990.

Capital

Section 74 of the Postal Services Act 1975 continues to have effect as if the following amounts were equal:

(a) the sum of the amounts determined under paragraph 74 (1) (a) of that Act; and

(b) the sum of the amounts determined under paragraph 74 (1) (b) of that Act, less any repayments made by the Australian Postal Corporation.

NOTE

1. Notified in the Commonwealth of Australia Gazette on 29th June 1990.

Printed by Authority by the Commonwealth Government Printer

(S. R. 206/89)—Cat. No. 14/30.5.1990