Chris Bowen (Prospect, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

I move:

That this bill be now read a second time.

The Excise Legislation Amendment (Condensate) Bill 2008 amends the Excise Act 1901, the Petroleum Excise (Prices) Act 1987, and the Petroleum Revenue Act 1985.

These amendments are made to facilitate the policy change which will be outlined in the bill I will introduce in a moment.

The Excise Legislation Amendment (Condensate) Bill 2008 amends, inter alia, the Petroleum Excise (Prices) Act 1987 to facilitate setting the condensate price for excise purposes. The arrangements for setting the price for condensate are the same as the current arrangements for setting the crude oil price for excise purposes.

Full details of the measures in this bill are contained in the explanatory memorandum.

I commend the bill to the House.

Debate (on motion by Mrs Bronwyn Bishop) adjourned.

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