Australian
Shipping Commission (Additional Capital) Act 1985
No.
57 of 1985
An
Act to authorize the payment of additional capital to the Australian Shipping
Commission
[Assented to 4 June 1985]
BE IT ENACTED by the Queen, and the
Senate and the House of Representatives of the Commonwealth of Australia, as
follows:
Short
title
1. This Act may be cited
as the Australian Shipping Commission
(Additional Capital) Act 1985.
Commencement
2. This Act shall come
into operation on the day on which it receives the Royal Assent.
Additional
capital for Commission
3. (1) Subject to this
section, there is payable to the Australian Shipping Commission, for the
purpose of providing additional capital for the Commission, the sum of
$70,541,000.
(2) Payments to the
Australian Shipping Commission under sub-section (1) shall be made in such
amounts and at such times as the Minister for Finance determines.
(3) Payments to the
Australian Shipping Commission under sub-section (1) shall be made out of the
Consolidated Revenue Fund, which is appropriated accordingly.
(4) If, before the
commencement of this Act, an amount (in this sub-section referred to as the “relevant
amount”) has been paid to the Commission as additional capital out of money
appropriated from the Consolidated Revenue Fund by the Appropriation Act (No. 2) 1984-85 by way of an Advance to the
Minister for Finance—
(a)
the relevant amount shall, for the purposes only of sub-section (1), be deemed
to have been paid to the Australian Shipping Commission under that sub-section;
and
(b)
if this Act comes into operation before 1 July 1985, the relevant amount shall
be deemed not to have been paid out of the appropriation of the Consolidated
Revenue Fund made in the Appropriation
Act (No. 2) 1984-85 by way of an Advance to the Minister for Finance.
[Minister’s second reading speech made in—
House
of Representatives on 8 May 1985
Senate
on 20 May 1985