States
Grants (Capital Assistance)
No. 129 of 1971
An Act to grant Financial
Assistance to the States in connexion with Expenditure of a Capital Nature and
to Authorize the Borrowing of Certain Moneys by the Commonwealth.
[Assented to 16 December 1971]
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.
1. This Act may be cited as the States Grants (Capital
Assistance) Act 1971.
Commencement.
2.This Act shall come into operation on the day on which
it receives the Royal Assent.
Grants
to States during year 1971–72.
3.—(1.) There is payable to a State specified in the
first column of the Schedule to this Act, during the year ending on the
thirtieth day of June, One thousand nine hundred and seventy-two, for the
purpose of financial assistance in connexion with expenditure of a capital
nature, the amount specified in the second column of that Schedule opposite to
the name of that State, less the sum of any advances made to that State under
section 7 of the States Grants (Capital Assistance) Act 1970.
(2.) Payments for the purposes of this section
shall be made in such amounts and at such times as the Treasurer determines.
Authority
to borrow.
4.—(1.) Subject to the next succeeding sub-section,
the Treasurer may, during the year ending on the thirtieth day of June, One
thousand nine hundred and seventy-two, in accordance with the provisions of the
Commonwealth Inscribed Stock Act 1911–1966,
or in accordance with the provisions of an Act authorizing the issue of
Treasury Bills, borrow moneys not exceeding in the aggregate Two hundred and
nine million, eight hundred thousand dollars.
(2.) Where the
Treasurer has, at any time during the period commencing on the first day of
July, One thousand nine hundred and seventy-one, and ending immediately before
the commencement of this Act, borrowed any moneys for the purpose of making
grants of financial assistance to the States in connexion with expenditure of a
capital nature, the aggregate amount of moneys that may be borrowed under the
last preceding sub-section is the amount specified in that sub-section less the
sum of the moneys borrowed during that period.
Application
of moneys borrowed.
5.Moneys borrowed under sub-section (1.) of the last
preceding section shall be issued and applied only for the expenses of
borrowing, for the purpose of making payments to the States in accordance with
section 3 of this Act and for the purpose of making payments to the
Consolidated Revenue Fund in accordance with sub-section (2.) of the next
succeeding section.
Grants
may be paid out of Consolidated Revenue Fund.
6.—(1.) A payment to a State in accordance with
section 3 of this Act may be made out of the Consolidated Revenue Fund, which
is appropriated accordingly.
(2.) Where an amount has been paid out of the
Consolidated Revenue Fund under section 7 of the States Grants (Capital
Assistance) Act 1970 or under the
last preceding sub-section, the Treasurer may authorize the payment to that
Fund, out of the Loan Fund, of an amount not exceeding the amount so paid.
(3.) In any statement of the receipts and
expenditure, or of the expenditure, of the Consolidated Revenue Fund prepared
by the Treasurer under section 49 or section 50 of the Audit Act 1901–1969, amounts paid to the Consolidated Revenue Fund
under the last preceding sub-section shall not be shown as receipts of that
Fund but shall be shown as having reduced the total of the amounts expended
from that Fund under section 7 of the States
Grants (Capital Assistance) Act 1970 and under sub-section (1.) of
this section.
Advance
payments for year 1972–73.
7.—(1.) The Treasurer may, during the period of six
months commencing on the first day of July, One thousand nine hundred and
seventy-two, make payments to a State specified in the first column of the
Schedule to this Act, for the purpose of financial assistance in connexion with
expenditure of a capital nature, of amounts not exceeding in the aggregate the
amount specified in the third column of that Schedule opposite to the name of
that State.
(2.) Payments to a State for the purposes of this
section shall be made out of the Consolidated Revenue Fund, which is
appropriated accordingly.
THE
SCHEDULE Sections 3 and 7.
First
Column State | Second
Column Amount of Grant | Third
Column Maximum Aggregate Amount of Payments |
$ | $ |
New South Wales.............................................................. | 66,730,000 | 33,365,000 |
Victoria............................................................................. | 53,520,000 | 26,760,000 |
Queensland....................................................................... | 26,530,000 | 13,265,000 |
South Australia................................................................. | 28,760,000 | 14,380,000 |
Western Australia.............................................................. | 19,600,000 | 9,800,000 |
Tasmania.......................................................................... | 14,660,000 | 7,330,000 |
209,800,000 | 104,900,000 |