A New Tax System (Goods and Services Tax) Amendment Regulation 2012 (No. 4)

Link to law: https://www.comlaw.gov.au/Details/F2012L01826

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A New Tax System (Goods and Services Tax) Amendment Regulation 2012 (No. 4)1
Select Legislative Instrument 2012 No. 215
I, PROFESSOR MARIE BASHIR, AC, CVO, Administrator of the Government of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the A New Tax System (Goods and Services Tax) Act 1999.
Dated 30 August 2012
MARIE BASHIR
Administrator
By Her Excellency’s Command
DAVID BRADBURY
Assistant Treasurer
1              Name of regulation
                This regulation is the A New Tax System (Goods and Services Tax) Amendment Regulation 2012 (No. 4).
2              Commencement
                This regulation is taken to have commenced on 1 July 2011.
3              Amendment of A New Tax System (Goods and Services Tax) Regulations 1999
                Schedule 1 amends the A New Tax System (Goods and Services Tax) Regulations 1999.
Schedule 1        Amendments
(section 3)
 
[1]           Dictionary
insert
APRA means the Australian Prudential Regulation Authority.
[2]           Dictionary, definition of credit union
substitute
credit union means:
                (a)    an Australian ADI listed on the APRA website as a credit union; or
               (b)    an Australian ADI listed on the APRA website as an Australian-owned bank that:
                          (i)    on or before 1 July 2011 was listed on the APRA website as a credit union; and
                         (ii)    retains mutuality; and
                        (iii)    was listed on the APRA website as a credit union at all times in the period between 1 July 2011 and the time it was listed on the APRA website as an Australian-owned bank; or
                (c)    the Cairns Penny Savings & Loans Limited (ACN 087 933 757).
Note   APRA publishes a list of Australian ADIs on its website at www.apra.gov.au.
Note
1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.comlaw.gov.au.