PETROLEUM
OIL SEARCH.
No. 67 of 1941.
An
Act to amend the Petroleum Oil Search Act
1936–1940.
[Assented
to 3rd December, 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 Petroleum Oil Search Act 1941.
(2.) The Petroleum
Oil Search Act 1936–1940 is in this Act
referred to as the Principal Act.
(3.) The Principal Act, as amended by this Act,
may be cited as the Petroleum Oil Search
Act 1936–1941.
Commencement.
2. This Act shall come into operation on the day on which it receives
the Royal Assent.
Petroleum
Oil Search Trust Account.
3. Section five of the Principal Act is amended by omitting paragraph
(a) of sub-section (5.) and inserting
in its stead the following paragraph:—
“(a) in the name of the Commonwealth enter
into such agreements relating to the advances, and take such securities for
repayment of the advances, as he thinks fit; and”.
Maximum
advance.
4. Section six of the Principal Act is amended by inserting after the
word “not” (wherever occurring) the words “(unless, in any particular case, the
Minister, by notice published in the Gazette,