COMMONWEALTH SHIPPING.
No. 3 of 1923.
An Act to provide for the Establishment of the Commonwealth
Shipping Line and for other purposes.
[Assented to 31st July, 1923.]
BE it enacted by the King’s Most Excellent
Majesty, the Senate, and the House of Representatives of the Commonwealth of
Australia, as follows:—
Short
title.
1.This Act may be cited
as the Commonwealth Shipping Act 1923.
Commencement.
2.This Act shall commence
on a date to be fixed by Proclamation.
Definitions.
3.In this Act, unless the
contrary intention appears—
“the Board” means the
Board of Directors appointed under this Act; and
“the Line” means the
Australian Commonwealth Line of Steamers.
Establishment
of Line.
4.A
shipping line to be called the Australian Commonwealth Line of Steamers is
hereby established.
Head
office.
5.The
head office of the Line shall be at such place in the Commonwealth as the
Governor-General, by notice in the Gazette, directs.
Board
of Directors.
6.—(1.)For
the purposes of this Act there shall be a Board of Directors consisting of not
less than three nor more than five members.
(2.) The members of the Board shall be appointed by
the Governor-General and shall hold office during good behaviour for the period
for which they were appointed, and shall be eligible for re-appointment.
(3.) Of the persons first appointed as members of
the Board, one shall be appointed for a term of five, years, one shall be
appointed for a term of four years, and the remainder shall be appointed for a
term not exceeding three years.
(4.) Thereafter each appointment of a member of the
Board shall be for a term not exceeding three years.
(5.) The Governor-General may appoint one of the
members of the Board to be Chairman.
(6.) In the case of the illness or absence from the
head office of the Line of any Director the Governor-General may appoint a
person to perform the functions of that Director during the illness or absence.
(7.) If the number of members of the Board is not
less than five, three members shall form a quorum, and if the number of members
of the Board is less than five, two members shall form a quorum.
(8.) At meetings of the Board the Chairman shall
have a deliberative vote, and, in the event of an equality of voting, a second
or casting vote.
(9.) In the absence of the Chairman from any
meeting the members of the Board present at the meeting shall elect one of
their number to act as Chairman at the meeting.
Incorporation
of Board.
7. The
Board shall be a body corporate, under the name of the Australian Commonwealth
Shipping Board, with perpetual succession and a common seal, with power to hold
property, and capable of suing and being sued in its corporate name.
Remuneration
of Directors.
8. There
shall be paid to each Director such remuneration and travelling allowance as
the Governor-General fixes.
Offices,
how vacated.
9.A Director shall be
deemed to have vacated his office—
(a)if
he becomes insolvent of bankrupt or compounds with his creditors or makes any
assignment of his salary for their benefit or takes advantage of any provisions
of any Act of the Commonwealth or a State relating to insolvency or bankruptcy;
or
(b)if
he resigns his office by writing under his hand addressed to the
Governor-General and the resignation is accepted by the Governor-General.
Powers
of Board.
10.The
Board shall, in addition to any other powers conferred by this Act, have power—
(a)
to carry on the general business of a ship-owner, and any business incidental
thereto;
(b) to
acquire and hold ships;
(c)
to acquire and hold on any tenure any land, offices, shipyards, wharfs or other
premises and any gear or equipment necessary for the purposes of carrying on
the business of the Board:
(d) subject
to the consent of the Treasurer, to dispose of any ships, land, offices,
ship-yards, wharfs, or other premises acquired by or vested in the Board in
pursuance of this Act;
(e) to
act as agents for ship-owners;
(f)
to establish offices and local boards, and appoint agents, in such places as it
thinks fit; and
(g)
to do anything incidental to any of its powers.
Appointment
of officers.
11.The
Board may appoint such officers and servants as it thinks necessary for
efficiently conducting its business.
Management
of Line.
12 The
management of the Line is vested in the Board.
Transfer
of ships, &c., to Board.
13.—(1.) All the right, title and interest of the
Commonwealth in and to—
(a)the merchant ships specified in the
Schedule of this Act, together with their tackle, apparel, gear, spare gear,
furniture, stores and equipment, and office furniture and fittings; and
(b)the stores or other property owned by
the Commonwealth, which are on hand at the commencement of this Act and are
used for the purposes of those ships,
are by force of this Act transferred to and
vested in the Board:
Provided
that, in the case of the four steamers in course of construction, the transfer
and vesting shall not take effect until they are completed and taken over by
the Board.
(2.) The transfer shall, in the case of the ships
and other property specified in paragraph (a)of
the last preceding sub-section, be at the valuation specified in the Schedule,
and in the case of the stores and other property specified in paragraph (b) of that sub-section, be at a
valuation to be mutually agreed.
Transfer
of Cockatoo and Schnapper Islands to Board.
14.—(1.) All
the right, title and interest of the Commonwealth in and to—
(a)the
Islands situated in the Harbour of Port Jackson, in the State of New South
Wales, and known as Cockatoo
Island and Schnapper Island, and in and to all improvements,
buildings, structures, erections, dockyards, machinery, tools, plant, craft,
furniture, and fittings on those Islands respectively; and
(b)all stock on hand which at the
commencement of this Act is the property of the Ship Construction Board,
are by force of this Act transferred to and
vested in the Board.
(2.)The
transfer shall, in the case of the Islands and other property specified in
paragraph (a)of the last preceding
sub-section, be at the valuation of Four hundred thousand pounds, and, in the
case of the stock specified in paragraph (b)of
that sub-section, be at a valuation to be mutually agreed.
(3.) The management of the works and establishments
on the said Islands is vested in the Board.
(4.) The Board shall have power to carry on in
respect of those Islands the business of manufacturer, engineer, dock-owner,
shipbuilder and repairer, and any other business incidental thereto or to the
said works and establishments.
Debentures
in respect of transferred property.
15.Where
ships and other property are transferred to the Board under either of the last
two preceding sections, the Board shall issue to the Commonwealth debentures in
the prescribed form for the amount of the valuation specified in relation to
the ships and property so transferred.
Raising
of working capital.
16.—(1.) For
the purpose of enabling the Board to defray any expenses incidental to the
establishment and working of the Line, and of any works and establishments
transferred to the Board in pursuance of this Act, the Treasurer, at the
request of the Board—
(a)may, out of the Consolidated Revenue
Fund, which is hereby appropriated accordingly, make advances to the Board to
such amount as he determines is requisite in order to provide a reasonable
amount of working capital for the Board; and
(b)may guarantee to any banking
corporation the settlement of any overdraft which the Board may require, and
which does not exceed the amount determined by the Treasurer under paragraph (a) of this sub-section:
Provided
that the total of the advances made under paragraph (a), and the amount of overdraft guaranteed under paragraph (b), shall not at any time together
exceed twenty-five per centum of the amount of the debentures issued and not
redeemed.
(2.) The Treasurer may pay, out of moneys
appropriated by the Parliament for the purpose, any amounts which may become
due and payable under any guarantee given by him in pursuance of this section.
(3.) The Board shall issue to the Commonwealth
debentures in the prescribed form for any amount advanced under sub-section
(1.), or paid under a guarantee under sub-section (2.), of this section.
Conditions
of debentures.
17.—(1.) Any
debentures issued under this Act by the Board to the Commonwealth shall, except
as provided in this section, be interminable and shall bear interest at the
rate of five per centum per annum payable half-yearly.
(2.) The debentures shall be subject to the right
of the Board, with the consent of the Treasurer, to apply towards their
redemption any amounts received from the realization of capital assets of the
Line.
Additional
capital.
18.Subject
to the approval by resolution of both Houses of the Parliament, the Board shall
have power to raise additional capital by the issue of debentures, or in such
other manner, and subject to such conditions, as are prescribed.
Application
of profits.
19—(1.) The
Board may pay any or all of the profits of the Line to a Reserve Fund until the
amount at credit of that Fund reaches a sum equivalent to twenty-five per
centum of the amount of the debentures issued and not redeemed, or whenever the
amount at credit of that Fund falls below that sum.
(2.) Whenever the amount at credit of the Reserve
Fund reaches the sum referred to in the last preceding sub-section, not more
than fifty per centum of the profits shall be paid to the Reserve Fund and the
balance shall be paid to the Treasurer of the Commonwealth.
(3.) Any amounts received by the Treasurer under
this section shall be paid to a Trust Account.
(4.) The Treasurer may apply any amount standing to
the credit of the Trust Account towards the redemption of debentures issued by
the Board to the Commonwealth, or may pay any such amount to the Consolidated
Revenue Fund.
(5.) Any Insurance Fund created by the Board shall
not be included in the amount of the Reserve Fund specified in this section.
(6.) Subject to this Act, the Board shall have
power to invest any of its accumulated reserves or other moneys, in securities
of the Commonwealth or a State, or on fixed deposit in a bank.
Operations
of Board subject to rates and taxes.
20.The
income, property and operations of the Board shall be subject to the like
rates, taxes and charges that would be payable under the laws of the
Commonwealth or a State if the Board were carrying on business as a trading
corporation formed by private individuals.
Audit.
21.—(1.) The accounts of the Board shall be subject to
inspection and audit by the Auditor-General for the Commonwealth.
(2.)The
inspection and audit shall be conducted not less often than yearly, and the
Auditor-General shall report to the Treasurer the result of each inspection and
audit.
Balance-sheet.
22.The
Board shall, as soon as possible after the thirtieth day of June in each year,
prepare a balance-sheet in the prescribed form and submit it to the
Auditor-General for report, and shall forward the balance-sheet and report to
the Minister, who shall lay them before both Houses of the Parliament.
Regulations.
23.The
Governor-General may make regulations, not inconsistent with this Act,
prescribing all matters which are required or permitted to be prescribed, or
which are necessary or convenient to be prescribed, for carrying out or giving
effect to this Act.
THE SCHEDULE.
Particulars of Vessels
Transferred under Section 13 of the Act.
Tonnage. |
Steamer. | Gross. | Net. |
australbrook..................................................................
| 4,336 | .. | 2,802 |
australcrag.....................................................................
| 4,503 | .. | 2,855 |
australford.....................................................................
| 4,518 | .. | 2,883 |
australglen.....................................................................
| 4,506 | .. | 2,815 |
australmead....................................................................
| 4,151 | .. | 2,476 |
australmount..................................................................
| 4,338 | .. | 2,808 |
australpeak.....................................................................
| 4,432 | .. | 2,852 |
Australplain...................................................................
| 4,607 | .. | 3,327 |
australpool.....................................................................
| 4,326 | .. | 2,783 |
australport.....................................................................
| 3,687 | .. | 2,312 |
australrange...................................................................
| 4,533 | .. | 2,842 |
Araluen............................................................................
| 5,519 | .. | 3,485 |
Bakara..............................................................................
| 5,970 | .. | 3,687 |
Barambah.........................................................................
| 6,016 | .. | 3,681 |
Boonah..............................................................................
| 6,147 | .. | 3,801 |
booral...............................................................................
| 4,359 | .. | 2,724 |
Boorara............................................................................
| 6,570 | .. | 4,016 |
bulga.................................................................................
| 1,449 | .. | 907 |
Bulla.................................................................................
| 5,262 | .. | 3,219 |
Calulu..............................................................................
| 4,265 | .. | 2,631 |
Carina...............................................................................
| 5,486 | .. | 3,437 |
Cooee.................................................................................
| 4,328 | .. | 2,652 |
dongarra..........................................................................
| 5,601 | .. | 3,539 |
Gilgai................................................................................
| 5,512 | .. | 3,536 |
Parattah...........................................................................
| 4,229 | .. | 2,605 |
Talawa..............................................................................
| 3,834 | .. | 2,408 |
Toromeo............................................................................
| 4,149 | .. | 2,703 |
Mawatta...........................................................................
| 1,096 | .. | 539 |
Delungra..........................................................................
| 3,346 | .. | 1,934 |
Dllga................................................................................
| 3,308 | .. | 1,949 |
Ulnoga..............................................................................
| 3,341 | .. | 1,939 |
Dromana...........................................................................
| 3,350 | .. | 1,934 |
Dumosa..............................................................................
| 3,351 | .. | 1,941 |
Dundula............................................................................
| 3,344 | .. | 1,936 |
Emita.................................................................................
| 3,347 | .. | 1,919 |
Enoggera..........................................................................
| 3,359 | .. | 1,922 |
Eurelia..............................................................................
| 3,351 | .. | 1,921 |
Eromanga.........................................................................
| 3,359 | .. | 1,922 |
echuca...............................................................................
| 3,362 | .. | 1,924 |
echunga............................................................................
| 3,362 | .. | 1,923 |
Erriba................................................................................
| 3,345 | .. | 1,919 |
Eudunda............................................................................
| 3,352 | .. | 1,922 |
Eugowra...........................................................................
| 3,344 | .. | 1,908 |
euwarra............................................................................
| 3,349 | .. | 1,907 |
eurimbla...........................................................................
| 3,351 | .. | 1,916 |
Moreton Bay....................................................................
| 13,850 | .. | 8,447 |
Hobsons Bay.....................................................................
| 13,837 | .. | 8,440 |
Jeevis Bay.........................................................................
| 13,837 | .. | 8,440 |
Largs Bay.........................................................................
| 13,851 | .. | 8,457 |
Esperance Bay.................................................................
| 13,851 | .. | 8,457 |
The Schedule—continued.
Also
the four undermentioned steamers now in course of construction and which will
be taken over as soon as completed in every detail with all workmanship and
material guaranteed to be first-class in every respect and the vessels and
their machinery, tackle, gear, furniture and appliances conforming in all ways
with the rules and requirements for classification in the highest class granted
at Lloyds Registry of Shipping.
All
necessary certificates from Lloyds Registry to be procured and delivered with
the steamers.
Tonnage |
Gross. | Net. |
Elouera..............................
| about | 3,353 | about | 1,921 |
Euroa..................................
| ,, | 3,353 | ,, | 1,921 |
Fordsdale...........................
| ,, | 9,700 | ,, | 5,800 |
Eerndale............................
| ,, | 9,700 | ,, | 5,800 |
Valuation.
The whole of the
foregoing, together with their tackle, apparel, gear, spare gear, furniture,
stores and equipment........................................................................................... | £4,718,150 |
Office furniture and
fittings......................................................................... | 7,500 |
Total.................................................. | £4,725,650 |