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National Roads Authority (2006 Budget Provisions Amendment) Act 2005

PAPUA NEW GUINEA

NATIONAL ROADS AUTHORITY (2006 BUDGET PROVISIONS AMENDMENT) ACT 2005

No. 19 of 2005.

National Roads Authority (2006 Budget Provisions Amendment) Act 2005.

Certified on: 23. 12. 2005

National Roads Authority (2006 Budget Provisions Amendment) Act 2005.

ARRANGEMENT OF SECTION.

Establishment and Operation, etc., of the Road Fund (Amendment of Section 30).

____________________

No. of 2005.

AN ACT

entitled

National Roads Authority (2006 Budget Provisions Amendment) Act 2005,

Being an Act to amend the National Roads Authority Act 2003,

MADE by the National Parliament to come into operation on 1 January 2006.

ESTABLISHMENT AND OPERATION, ETC., OF THE ROAD FUND (AMENDMENT OF SECTION 30).

Section 30 of the Principal Act is amended –

(a) by inserting after Subsection (1) the following new subsections:-

"(1A) Insofar as the provisions of the Public Finances (Management) Act 1995 apply to the collection and transfer of public revenue directly to the Road Fund under Subsections (1B) or (1C), those provisions shall be deemed to be complied with.

"(1B) From the excise duty on sales of diesel charged under Item 2710.19.10 of Schedule 1 of the Excise Tariff Act 1992, the following amount shall, on collection, be transferred by the Internal Revenue Commission at monthly intervals directly to the Road Fund:-

(a) for diesel sales on which the excise duty collected is at a rate of 6 toea per litre or greater — 4 toea per litre; and

(b) for diesel sales on which the excise duty collected is at a rate less than 6 toea per litre — two thirds of the tax collected.

"(1C) The Internal Revenue Commission is hereby authorised, for the purposes of payment to the Road Fund under Subsection (1B), to deal with excise duty collections on diesel sales in a manner approved by the Commissioner General of Internal Revenue."; and

(b) in Subsection (2), by inserting after Paragraph (h) the following new paragraph:-

"(i) excise duty collections on sales of diesel transferred to the Fund under the provisions of Subsection (1B).".

__________________

I hereby certify that the above is a fair print of the National Roads Authority (2006 Budget Provisions Amendment) Act 2005 which has been made by the National Parliament.

Clerk of the National Parliament.

I hereby certify that the National Roads Authority (2006 Budget Provisions Amendment) Act 2005 was made by the National Parliament on 22 November 2005.

Speaker of the National Parliament.