Gold Tax Collection Act (No. 2) 1940 (Cth)

GOLD TAX COLLECTION (No. 2).

No. 95 of 1940.

An Act to amend the Gold Tax Collection Act 1939, as amended by the Gold Tax Collection Act 1940.

[Assented to 17th December, 1940.]

[Date of commencement, 14th January, 1941.]

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 Gold Tax Collection Act (No. 2) 1940.

 

(2.) Section one of the Gold Tax Collection Act 1940 is amended by omitting sub-section (3.).

(3.) The Gold Tax Collection Act 1939, as amended by the Gold Tax Collection Act 1940, is in this Act referred to as the Principal Act.

(4.) The Principal Act, as amended by this Act, may be cited as the Gold Tax Collection Act 1939-1940.

2.After section seven of the Principal Act the following section is inserted:—

Variation of agreements relating to proceeds of gold.

“7a. In any agreement relating to the sharing, distribution or disposal in any manner whatever, of the proceeds of the realization of gold, any reference to those proceeds shall, notwithstanding anything contained in any other law, be deemed not to include, nor at any time to have included, a reference to any portion of the proceeds which is deducted in pursuance of the last preceding section, unless there is in the agreement any provision, covenant, condition or stipulation to the contrary.”.