Commonwealth act

Futures Industry (Fees: Taxation Component) Act 1989

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

104 of 1989

Collection

act

Plain English Summary

2/10 complexity

This short Act legally authorises the government to collect certain fees from Australia's futures industry. Specifically, it imposes (formally enacts) the fees described in subsection 4(2) of the Futures Industry (Fees) Act 1986.

Why a separate Act? Under Australia's Constitution, charges that function as taxes must be imposed by their own standalone Act of Parliament—unlike simple service fees. This Act handles the "taxation component" of industry fees, ensuring they are constitutionally valid.

How it works:

The Act contains only 4 short sections
It borrows all definitions from the 1986 Act (it doesn't define anything itself)
It simply states: the specific fees mentioned in the other Act's section 4(2) are now legally enforceable

Who it affects: Businesses and traders operating in Australia's futures markets who must pay these particular regulatory charges.

JSON API Tax / GST / superannuation

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in Futures Industry (Fees: Taxation Component) Act 1989.

Futures Industry (Fees: Taxation Component) Act 1989

View image in the official source

Futures Industry (Fees: Taxation Component) Act 1989

No. 104 of 1989

An Act to impose some of the fees prescribed under the Futures Industry (Fees) Act 1986

[Assented to 30 June 1989]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

This Act may be cited as the Futures Industry (Fees: Taxation Component) Act 1989.

Commencement

This Act commences on the day on which Part 9 of the Co-operative Scheme Legislation Amendment Act 1989 commences.

Interpretation

(1) An expression has the same meaning in this Act as in the Futures Industry (Fees) Act 1986.

(2) The Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980 applies to this Act.

Imposition of certain fees

4. This Act imposes such of the fees prescribed under the Futures Industry (Fees) Act 1986 as are so prescribed by virtue of subsection 4 (2) of that Act.

[Minister’s second reading speech made in—

House of Representatives on 12 April 1988

Senate on 26 May 1989]

Source text

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

1 Futures Industry (Fees: Taxation Component) Act 1989

Futures Industry (Fees: Taxation Component) Act 1989

No. 104 of 1989

An Act to impose some of the fees prescribed under the Futures Industry (Fees) Act 1986

[Assented to 30 June 1989]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

This Act may be cited as the Futures Industry (Fees: Taxation Component) Act 1989.

Commencement

This Act commences on the day on which Part 9 of the Co-operative Scheme Legislation Amendment Act 1989 commences.

Interpretation

(1) An expression has the same meaning in this Act as in the Futures Industry (Fees) Act 1986.

(2) The Companies and Securities (Interpretation and Miscellaneous Provisions) Act 1980 applies to this Act.

Imposition of certain fees

4. This Act imposes such of the fees prescribed under the Futures Industry (Fees) Act 1986 as are so prescribed by virtue of subsection 4 (2) of that Act.

[Minister’s second reading speech made in—

House of Representatives on 12 April 1988

Senate on 26 May 1989]