Government Railways and Sydney Harbour Trust (Financial Provisions) Act 1945 (1946 No 8) (NSW)

GOVERNMENT RAILWAYS AND SYDNEY HARBOUR TRUST (FINANCIAL PRO- VISIONS) ACT.

poses connected therewith. [Assented to,
7th Januarv, 1940.] BE

Act No. 8, 1940.

An Act to amend the Government Railways Act.

1912, the Sydney Harbour Trust Act, 1900,!

and certain other Acts, in certain respects:

IO validate certain matters; and for pur-

BE it enacted by the King's Most Excellent Majesty, lative Council and Legislative Assembly of New South by and with the advice and consent of the Legis­	Wales in Parliament assembled, and by the authority of
the same, as follows :—
1 . This Act may be cited as the "Government Pail- ways and Sydney Harbour Trust (Financial Provisions) Act, 1945."
2 . (1) The Government Railways Act, 1912, as amended by subsequent Acts, is amended by inserting at the end of section 41B the following new subsections:— (5) (a) There shall be created in the books of the Commissioner a Special Reserve within the fund to which shall be transferred such amounts as may from time to time be deter­ mined by the Commissioner out of moneys appropriated by Parliament from the fund.

(b) Moneys at credit of the Special Reserve shall be available only to meet such appro­ priations as Parliament may make for main­ tenance deferred in previous years, renewals, reconstructions, conversions of assets, special works of maintenance and other special expenditure not chargeable to work­ ing expenses.

(6) (a) There shall be credited in the books of the Commissioner a Fire and Accident Insur­ ance Reserve within the fund, to which shall be transferred such amounts as may from	time to time be determined by the Commis­
sioner out of moneys appropriated by Parliament.
(b)	Moneys at credit of the Fire and Accident Insurance Reserve shall be available only to meet expenditure not chargeable to working expenses which the Commissioner deems to be properly attributable to—

(i)   loss or damage to any property caused either directly or indirectly by fire;

(ii)

(ii)   damage to any property arising out of the operations of the railway ser­ vices; and

(iii)   claims for accidents to passengers and others (excluding employees on duty).

(2) Subsection one of this section shall be deemed to have commenced upon the first day of July, one thousand nine hundred and forty-five.

(3) The Government Railways Act, 1912, as

amended by subsequent Acts, is further amended—

(a) by inserting at the end of section 41c the follow­ ing new subsection:—

(3) The Commissioner shall as soon as practicable, but not later than eight weeks after the close of each financial year, submit to the Colonial Treasurer, in the form approved by him, an income and expenditure account and a balance- sheet for that year in respect of the Government Railways and any other ser­ vice carried out by the Commissioner.

(b)

by inserting next after section -41 it the follow­ in this Act the setting - aside of reserves within 41s. (1) Notwithstanding anything contained

the Government Railways Fund from revenue earned before the first day of July, one thousand nine hundred and forty-five, and the times at

were constituted, shall be deemed always to which and the manner in which such reserves

have been authorised.

(2) All expenditure from such reserves before the first day of July, one thousand nine hundred and forty-five, shall be deemed always to have been authorised.

(3) The Special Reserve created under subsection five of section 41B of this Act, shall, as at the thirtieth day of June, one thousand sine hundred and forty-five, be deemed to be in

credit

credit in the sum of nine million eight hundred and sixty thousand seven hundred and twenty- nine pounds thirteen shillings and two pence.

(4) The Fire and Accident Insurance Reserve created under subsection six of section 41B of this Act, shall as at the thirtieth day of June, one thousand nine hundred and forty-five, be deemed to be in credit in the sum of one hundred and sixty-one thousand four hundred and fifty-three pounds five shillings and four pence.

3. (1) The Sydney Harbour Trust Act, 1900, as

amended by subsequent Acts is amended—

(a)	by inserting at the end of subsection two of section 77A the following new paragraph:—
(c)	to meet such appropriations as may be made by Parliament.
(b)	by inserting next after section 77L the following now sections:—

77M. The Maritime Services Board shall as soon as practicable but not later than eight weeks after the close of each financial year submit to the Colonial Treasurer in the form approved by him an income and expenditure account and a balance-sheet for that year in respect of all activities and transactions of the Board affecting the Sydney Harbour Trust Fund.

77N. The payment of the sum of seven hundred and fifty thousand pounds to the Consolidated Revenue Fund from the Sydney

Harbour Trust Fund during the year ended thirtieth day of June, one thousand nine hundred and forty-five, is hereby validated.

(2) Paragraph (a) of subsection one of this section shall be deemed to have commenced upon the first day of July, one thousand nine hundred and forty-four.

M O R A T O R I U M