When Does Legislation Expire

question 57

Multiple Choice

When does legislation expire?

• A)10 years after it has been enacted.
• B)When there is a change of parliament subsequent to a Federal election.
• C)When declared by the High Court of Australia.
• D)In accordance with a specific expiry clause contained within the legislation or when repealed by parliament.

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Definitions:

Secured Loan

A type of loan that is backed by collateral, making it less risky for the lender since the collateral can be seized if the loan is not repaid.

Maturity Date

Due date of the promissory note.

Dividends

Payments made by a corporation to its shareholders, often as a distribution of profits.

Taxable

Refers to income, goods, or services subject to tax according to the laws of the taxing jurisdiction.