Safeguard Mechanism (Crediting) Amendment Bill 2023

The majority voted in favour of Greens amendments, which means they will now be included as part of the bill. It excludes programs that subsidise the extraction of coal or natural gas from program arrangements under Part IV of the Industry Research and Development Act 1986.

Amendment text

SHEET 1920

(1) Schedule 1, page 29 (after line 13), after Part 2A, insert:

Part 2B — Amendment of the Industry Research and Development Act 1986

Industry Research and Development Act 1986

66G Subsection 33(2)

Repeal the subsection, substitute:

(2) A program may only be prescribed under subsection (1):

(a) to the extent that it is with respect to one or more legislative powers of the Parliament; and

(b) if it is not a program to subsidise the extraction of coal or natural gas.

(2) Schedule 1, item 67, page 31 (after line 22), at the end of the item, add:

(15) The amendment of section 33 of the Industry Research and Development Act 1986 made by Part 2B of this Schedule applies in relation to a program prescribed under subsection (1) of that section after the commencement of this item.