Australian
Land Transport (Financial Assistance) Amendment Act 1986
No. 162 of 1986
An Act to amend
the Australian Land Transport (Financial
Assistance) Act 1985,and for
related purposes
[Assented
to 18 December 1986]
BE IT ENACTED by the Queen, and the Senate and
the House of Representatives of the Commonwealth of Australia, as follows:
Short
title, &c.
1. (1) This Act may be cited as the Australian Land Transport (Financial
Assistance) Amendment Act 1986.
(2) The Australian
Land Transport (Financial Assistance) Act 19851is in this Act referred to as the
Principal Act.
Commencement
2. This Act shall come into operation on the day
on which it receives the Royal Assent.
3. After section 14 of the Principal Act the
following section is inserted:
Modification
of rate applicable under section 14
“14a. (1) Notwithstanding section 14, this
Act shall be deemed to have had effect from 1 July 1986 as if the rate
specified in the notice published under section 14 on 30 July 1986 had been
3.61 cents per litre.
“(2)
Nothing in sub-section (1) affects the validity of a payment made before the
commencement of this section.”.
Indexation
of relevant rate
4. Section 15 of the Principal Act is amended by
omitting from sub-section (7) “the relevant” and substituting “a”.
Transitional
5. (1) Where, by virtue of sections 14a and 15 of the Principal Act as amended
by this Act, the Principal Act as so amended is deemed to have had effect as if
another rate (in this sub-section referred to as the “substituted rate”) were
substituted for a rate on a particular day after 1 July 1986 and before the
commencement of this section, the Minister shall, as soon as practicable after
the commencement of this section, publish a notice in the Gazette specifying the substituted rate.
(2) There shall be paid out of the Fund, to the
Consolidated Revenue Fund, an amount equal to the sum of—
(a) the difference between—
(i) the sum of the amounts paid into the Fund
under sub-section 12 (1) of the Principal Act during the period commencing on 1
July 1986 and ending immediately before the commencement of this Act; and
(ii) the sum of the amounts that would have
been paid into the Fund under sub-section 12 (1) of the Principal Act during
that period if the rate specified in the notice published under section 14 of
the Principal Act on 30 July 1986 had been 3.61 cents per litre; and
(b) an amount that the Minister, by notice
published in the Gazette,declares to represent income derived
from the investment of money representing the difference referred to in
paragraph (a).
NOTE
1. No. 59,
1985.
[Minister’s second reading speech made in—
House of Representatives on 20 August 1986
Senate on 25 September 1986