Part XIAA - The New Tax System Price Exploitation Code

150L  Definitions

                   In this Part, unless the contrary intention appears:

application law means:

                     (a)  a law of a State or Territory that applies the New Tax System Price Exploitation Code, either with or without modifications, as a law of the State or Territory; or

                     (b)  any regulations or other legislative instrument made under a law described in paragraph (a); or

                     (c)  the New Tax System Price Exploitation Code, applying as a law of a State or Territory, either with or without modifications.

apply, in relation to the New Tax System Price Exploitation Code, means apply the New Tax System Price Exploitation Code by reference:

                     (a)  as in force from time to time; or

                     (b)  as in force at a particular time.

modifications includes additions, omissions and substitutions.

New Tax System Price Exploitation Code means (according to the context):

                     (a)  the text described in section 150N; or

                     (b)  that text, applying as a law of a State or Territory, either with or without modifications.

officer, in relation to the Commonwealth, includes the following:

                     (a)  a Minister;

                     (b)  a person who holds:

                              (i)  an office established by or under an Act; or

                             (ii)  an appointment made under an Act; or

                            (iii)  an appointment made by the Governor‑General or a Minister but not under an Act;

                     (c)  a person who is a member or officer of an authority of the Commonwealth;

                     (d)  a person who is in the service or employment of the Commonwealth, or of an authority of the Commonwealth, or is employed or engaged under an Act.

Schedule version of Part VB means the text that is set out in Part 2 of the Schedule to this Act.

Territory means the Australian Capital Territory or the Northern Territory .

150M  Object of this Part

                   The object of this Part is to facilitate the application of the New Tax System Price Exploitation Code by the States and Territories.

150N  The New Tax System Price Exploitation Code

             (1)  The New Tax System Price Exploitation Code consists of:

                     (a)  the Schedule version of Part VB; and

                     (b)  the remaining provisions of this Act (except sections 2A, 5, 6 and 172), so far as they would relate to the Schedule version if the Schedule version were substituted for Part VB; and

                     (c)  the regulations under this Act, so far as they relate to any provision covered by paragraph (a) or (b); and

                     (d)  the guidelines under section 75AV.

             (2)  For the purpose of forming part of the New Tax System Price Exploitation Code, the provisions referred to in paragraphs (1)(b), (c) and (d) are to be modified as necessary to fit in with the Schedule version of Part VB. In particular, references to corporations are to include references to persons who are not corporations.

150O  Federal Court may exercise jurisdiction under application laws of Territories

                   The Federal Court may exercise jurisdiction (whether original or appellate) conferred on that Court by an application law of a Territory with respect to matters arising under the New Tax System Price Exploitation Code.

150P  Exercise of jurisdiction under cross‑vesting provisions

                   This Part does not affect the operation of any other law of the Commonwealth, or any law of a State or Territory, relating to cross‑vesting of jurisdiction.

150Q  Application laws may confer functions on Commonwealth authorities and officers

                   An application law may confer functions and powers on authorities and officers of the Commonwealth for the purposes of the New Tax System Price Exploitation Code.

150R  Application laws may operate concurrently with this Act

                   This Act is not intended to exclude the operation of any application law, to the extent that the application law is capable of operating concurrently with this Act.

150S  No doubling‑up of liabilities

             (1)  If:

                     (a)  an act or omission is an offence against this Act and is also an offence against an application law; and

                     (b)  the offender has been punished for the offence under the application law;

the offender is not liable to be punished for the offence against this Act.

             (2)  If a person has been ordered to pay a pecuniary penalty under an application law, the person is not liable to a pecuniary penalty under this Act in respect of the same conduct.

150T  References in instruments to the New Tax System Price Exploitation Code

             (1)  A reference in any instrument to the New Tax System Price Exploitation Code is a reference to the New Tax System Price Exploitation Codes of any or all of the States and Territories.

             (2)  Subsection (1) has effect except so far as the contrary intention appears in the instrument or the context of the reference otherwise requires.