States Grants
(Capital Assistance) (No. 3)
No. 77 of 1972
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 27 September 1972]
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 (No. 3) 1972.
Commencement.
2.This Act shall come into operation on the day on which
it receives the Royal Assent.
Grants
to States during year 1972–73.
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-three, 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 payments made to that State under sub-section (1.) of section 7 of the States Grants (Capital Assistance) Act 1971–1972.
(2.) In addition to the amount payable under the
last preceding sub-section, 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-three, for the purpose of
financial assistance in connexion with expenditure of a capital nature on
primary schools and secondary schools conducted by that State, the amount
specified in the third column of that Schedule opposite to the name of that
State, less the sum of any payments made to that State under sub-section (1a.) of section 7 of the States Grants (Capital Assistance) Act 1971–1972.
(3.) Payments for the purposes of this section
shall be made in such amounts and at such times as the Treasurer determines.
Advance
payments to States for year 1973–74.
4.The Treasurer may, during the period of six months
commencing on the first day of July, One thousand nine hundred and
seventy-three, 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 fourth column of that Schedule opposite to the name of
that State.
Payments
to States to be made out of Consolidated Revenue Fund or Loan Fund.
5. Payments to a State for the purposes of this Act may be made out of
the Consolidated Revenue Fund or the Loan Fund.
Authority
to borrow.
6.—(1.) Subject to the next succeeding sub-section,
the Treasurer may, during the period commencing on the date of commencement of
this Act and ending on the thirty-first day of December, One thousand nine
hundred and seventy-three, 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 Three hundred and
eighty-six million, one hundred and forty-eight thousand, five hundred 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-two, and ending immediately before the date of 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 reduced by the sum of the moneys borrowed during that period.
Application
of moneys borrowed.
7. 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 this Act and for
the purpose of making payments to the Consolidated Revenue Fund in accordance
with the next succeeding section.
Reimbursement
of Consolidated Revenue Fund from Loan Fund.
8.—(1.) Where an amount has been paid out of the
Consolidated Revenue Fund under this Act or under section 7 of the States Grants (Capital Assistance) Act 1971–1972,
the Treasurer may authorize the payment to that Fund, out of the Loan Fund, of
an amount not exceeding the amount so paid.
(2.) 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 this Act and under section 7 of the States Grants (Capital
Assistance) Act 1971–1972.
Appropriations.
9. The Consolidated Revenue Fund and the Loan Fund are appropriated as
necessary for the purposes of this Act.
THE
SCHEDULE Sections 3 and
4.
First Column | Second Column | Third Column | Fourth Column |
State | Amount
of Grant under Section 3 (1.) | Amount
of Grant under Section 3 (2.) | Maximum
Aggregate Amount of Payments under Section 4 |
$ | $ | $ |
New South Wales............................................ | 79,051,000 | 4,246,000 | 39,525,500 |
Victoria........................................................... | 63,405,000 | 3,405,000 | 31,702,500 |
Queensland..................................................... | 31,429,000 | 1,683,000 | 15,714,500 |
South Australia............................................... | 34,074,000 | 1,823,000 | 17,037,000 |
Western Australia............................................ | 23,213,000 | 1,242,000 | 11,606,500 |
Tasmania........................................................ | 17,367,000 | 941,000 | 8,683,500 |
248,539,000 | 13,340,000 | 124,269,500 |