Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) No consequences arise, for the purposes of a prescribed law of the Commonwealth relating to taxation, in respect of:
(a) a federal tax - exempt matter; or
(b) anything done (including, for example, a transaction entered into or an instrument or document made, executed, lodged or given) because of, or arising out of, a federal tax - exempt matter.
(2) In this Act:
"federal tax" -exempt matter means a transfer of assets or liabilities that the Commonwealth Minister and the Treasurer are satisfied is made:
(a) for the purpose of ensuring that a person does not carry on a business of producing, purchasing or selling natural gas in breach of:
(i) a State/Territory gas law; or
(ii) the National Gas (Commonwealth) Law; or
(iii) the National Gas (Commonwealth) Regulations; or
(iv) the Offshore Western Australian Pipelines (Commonwealth) Law; or
(v) the Offshore Western Australian Pipelines (Commonwealth) Regulations; or
(b) for the purpose of the separation of certain activities from other activities of a person as required by:
(i) a State/Territory gas law; or
(ii) the National Gas (Commonwealth) Law; or
(iii) the National Gas (Commonwealth) Regulations; or
(iv) the Offshore Western Australian Pipelines (Commonwealth) Law; or
(v) the Offshore Western Australian Pipelines (Commonwealth) Regulations;
and for no other purpose.
(3) In paragraph ( a) of the definition of federal tax - exempt matter in subsection ( 2), natural gas has the same meaning as in the National Gas Law set out in the Schedule to the National Gas (South Australia) Act 2008 of South Australia.