67Interpretation of Part 10

67 Interpretation of Part 10

[Section 67 Amended by No. 65 of 2001, s. 6, Applied:01 Jul 2001] [Section 67 Inserted by No. 65 of 2001, s. 5, Applied:01 Jul 2001]

(1)  In this Part –

non-prescribed Government Business Enterprise means a Government Business Enterprise that is not a prescribed Government Business Enterprise;

non-prescribed subsidiary means a subsidiary of a Government Business Enterprise that is not a prescribed subsidiary;

NTER Agreement means the National Tax Equivalent Regime Memorandum of Understanding entered into by the Treasurer on behalf of the State on 16 July 2001, as amended from time to time;

prescribed Government Business Enterprise means a Government Business Enterprise that is declared under subsection (2) to be a prescribed Government Business Enterprise;

prescribed subsidiary means a subsidiary of a Government Business Enterprise that is declared under subsection (3) to be a prescribed subsidiary.

(2)  The Treasurer may declare a Government Business Enterprise to be a prescribed Government Business Enterprise and the declaration is to be issued as a Treasurer's Instruction.

(3)  The Treasurer may declare a subsidiary of a Government Business Enterprise to be a prescribed subsidiary and the declaration is to be issued as a Treasurer's Instruction.

(4)  The Treasurer may amend or revoke a declaration made under subsection (2) or (3) and the amendment or revocation is to be issued as a Treasurer's Instruction.

(5)  Despite section 114(4) , a declaration under subsection (2) or (3) for the purposes of the NTER Agreement may take effect on 1 July 2001 or a later day specified in the declaration.