Pyrites Bounty
(No. 3)
No. 151 of 1965
An Act to
amend the Pyrites Bounty Act 1960, as amended by the Pyrites Bounty
Act 1965 and by the Pyrites Bounty Act (No. 2) 1965, in relation to Decimal Currency.
[Assented to 18 December, 1965]
BE it enacted by the Queen’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 Pyrites Bounty
Act (No. 3) 1965.
(2.) The Pyrites
Bounty Act 1960, as amended by the Pyrites Bounty Act 1965 and by
the Pyrites Bounty Act (No. 2) 1965, is in this Act referred to
as the Principal Act.
(3.) Section 1 of the Pyrites
Bounty Act (No. 2) 1965 is amended by omitting sub-section (4.).
(4.) The Principal
Act, as amended by this Act, may be cited as the Pyrites Bounty Act 1960–1965.
Commencement.
2. This Act
shall come into operation on the fourteenth day of February, One thousand nine
hundred and sixty-six.
Interpretation.
3. Section 3 of
the Principal Act is amended by omitting the definition of “‘the landed cost
per ton’” in sub-section (1.) and inserting in its stead the following
definition:—
“‘the landed cost per ton’, in
relation to crude brimstone imported into Australia in a quarter, means the
amount ascertained by dividing the total cost of all crude brimstone imported
into Australia in that quarter by the number of tons of crude brimstone so
imported and, if the result so ascertained is not a multiple of Ten cents,
increasing or decreasing the amount to the nearest multiple of Ten cents except
where the result is a multiple of Five cents, in which case the amount shall be
increased by Five cents;”.
Rate
of bounty.
4. Section 7 of
the Principal Act is amended—
(a)by
omitting from sub-section (2.) the words “Sixteen pounds” and “Three pounds”
and inserting in their stead the words “Thirty-two dollars” and “Six dollars”,
respectively; and
(b)by
omitting sub-section (3.) and inserting in its stead the following
sub-section:—
“(3.) When the landed cost per ton
of crude brimstone imported into Australia in a quarter is more or less than
Thirty-two dollars, the rate of bounty that becomes payable in respect of any
pyrites during that quarter is an amount per ton of the sulphur content of the
pyrites ascertained—
(a)where that landed cost is more than Thirty-two dollars—by subtracting from
the amount of Six dollars the amount by which that landed cost is more than
Thirty-two dollars; or
(b)where that landed
cost is less than Thirty-two dollars—by adding to an amount of Six dollars the
amount by which that landed cost is less than Thirty-two dollars.”.
Stocktaking
and inspection of production and accounts.
5. Section 13 of the
Principal Act is amended by omitting the words “Fifty pounds” and inserting in
their stead the words “One hundred dollars”.
Penalty
for refusing to answer questions. &c.
6. Section 16
of the Principal Act is amended by omitting the words “Fifty pounds” and
inserting in their stead the words “One hundred dollars”.
Offences.
7. Section 20 of the
Principal Act is amended by omitting from sub-section (1.) the words “Five
hundred pounds” and inserting in their stead the words “One thousand dollars”.
Regulations.
8. Section 22 of the
Principal Act is amended by omitting from paragraph (c) the words “Fifty
pounds” and inserting in their stead the words “One hundred dollars”.
Application
of amendments.
9. The amendments made by sections
3 and 4 of this Act apply in relation to all payments of bounty on or after the
date of commencement of this Act, and, for the purposes of calculating the
amount of any such payment, the reference to “Australian currency” in the
definition of “total cost” in section 3 of the Principal Act, as amended by
this Act, shall be read as a reference to the currency provided for by the Currency
Act 1965