Subsection 270(1) of the Customs Act 1901 (the Act) provides, in part, that the Governor General may make regulation not inconsistent with the Act prescribing all matters which by the Act are required or permitted to be prescribed or as may be necessary or convenient to be prescribed for giving effect to the Act or for the conduct of any business relating to Customs.
The Customs Amendment (Malaysia-Australia Free Trade Agreement Implementation and Other Measures) Act 2012 (the MAFTA Act) amends the Act to fulfil Australia’s obligations under Chapter 3 of the Malaysia-Australia Free Trade Agreement (the Agreement), which deals with rules of origin. These rules determine whether goods imported into Australia from Malaysia are Malaysian originating goods and are thereby eligible for preferential rates of customs duty. These rules are contained in new Division 1H of Part VIII of the Act (new Division 1H).
Relevant provisions of the MAFTA Act which amend the Act are expressed to commence on the later of 1 January 2013 or the day the Malaysia-Australia Free Trade Agreement enters into force.