Cotton Industries Bounty Act 1932 (Cth)

COTTON INDUSTRIES BOUNTY.

No. 17 of 1932.

An Act to amend the Cotton Industries Bounty Act 1930.

[Assented to 28th May, 1932.]

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 and citation.

1.—(1.) This Act may be cited as the Cotton Industries Bounty Act 1932.

(2.) The Cotton Industries Bounty Act 1930 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the Cotton Industries Bounty Act 1930-1932.

Limit of amount of bounty.

2.Section five of the Principal Act is amended—

(a) by inserting in sub-section (1.), after the word “year”, the words “prior to the financial year beginning on the first day of July One thousand nine hundred and thirty-two”;

(b) by inserting after sub-section (1.) the following sub-section:—

“(1a.) The total amount of bounty authorized to be paid under this Act in the financial year beginning on the first day of July One thousand nine hundred and thirty-two and in each financial year thereafter during which bounty is payable under this Act, shall not exceed. One hundred and fifty thousand pounds.”; and

(c) by omitting from sub-section (2.) the words “in respect of seed cotton or cotton yarn, as the case may be,” (wherever occurring).

Specification of bounties.

3.Section six of the Principal Act is amended by omitting sub-section (1.) and inserting in its stead the following sub-section:—

“(1.) The bounties under this Act shall be payable—

(a) in respect of seed cotton which—

(i) has been grown in Australia;

(ii) has been delivered to an appointed place; and

(iii) has, on or before the thirtieth day of September One thousand nine hundred and thirty-six, been graded in one of the grades prescribed under section eight of this Act; and

 

(b) in respect of cotton yarn manufactured in Australia and delivered from a factory on or before the thirtieth day of June One thousand nine hundred and thirty-two:

Provided that, in any particular case, bounty shall, with the approval of the Minister, be payable in respect of lint produced, on or before the thirtieth day of September One thousand nine hundred and thirty-six, from Australian-grown seed cotton, instead of in respect of the seed cotton from which the lint is produced.”.

Rates of bounty.

4.The Second Schedule to the Principal Act is amended—

(a) by omitting the word “September” (first occurring) and inserting in its stead the word “June”; and

(b