STATES GRANTS (FRUIT CANNERIES) ACT
1976
No. 9 of 1976
An Act to make Provision
for the Grant of Financial Assistance to New South Wales, Victoria and South
Australia to enable those States to make Loans to certain Canners of Fruit.
BE IT
ENACTED by the Queen, and the Senate and House of Representatives of the
Commonwealth of Australia, as follows:—
Short
title.
1. This Act may be cited as the States Grants (Fruit Canneries) Act 1976.
Commencement.
2.This Act shall come into operation on the
day on which it receives the Royal Assent.
Grant
of financial assistance.
3. (1) Subject to this Act, there is payable to a State
specified in the Schedule, by way of financial assistance, the amount necessary
to reimburse that State in respect of one-half of any moneys expended by that
State before 1 July 1976 in making an advance, in accordance with conditions
approved by the Minister, to a company specified in the Schedule for purposes
related to the making by that company of payments in respect of the supply to
it of fruit canned during the year that ended on 30 June 1975.
(2) The total of the
amounts payable to a State under this Act in respect of a company shall not
exceed the amount specified in the Schedule, in relation to that State, in
respect of that company.
Conditions.
4. (1) Payment of an amount to a State under this Act is
subject to such conditions as the Minister, by instrument in writing,
determines.
(2) The
conditions determined by the Minister under sub-section (1) shall provide for
repayment of the amount by the State to the Commonwealth and for payment of
interest on so much of the amount as has not been repaid.
(3) The conditions
referred to in sub-section (2) shall provide for completion of the repayment by
30 June 1978, but may provide for extension of the time for completion of
repayment in special circumstances.
Payments
to be made out of Consolidated Revenue Fund or Loan Fund.
5.Payments under this Act may be made out of
the Consolidated Revenue Fund or the Loan Fund.
Authority
to borrow.
6.The Treasurer may, during the period
commencing on the date of commencement of this Act and ending on 30 June 1976,
in accordance with the provisions of the Commonwealth
Inscribed Stock Act 1911-1973, or in accordance with the
provisions of an Act authorizing the issue of Treasury Bills, borrow moneys not
exceeding in the aggregate $2,456,567.
Application
of moneys borrowed.
7.Moneys
borrowed under section 6 shall be issued and applied only for the expenses of
borrowing, for the purpose of making payments to the States under this Act and
for the purpose of making payments to the Consolidated Revenue Fund in
accordance with section 8.
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, 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 50 of
the Audit Act 1901-1975, amounts paid to
the Consolidated Revenue Fund under sub-section (1) of this 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.
(3) Where there has been
a payment from the Loan Fund to the Consolidated Revenue Fund under sub-section
(1) in respect of an amount paid out of the Consolidated Revenue Fund under
this Act, the amount so paid out of the Consolidated Revenue Fund, shall, for
the purposes of sections 9 and 10 of the National Debt
Sinking Fund Act 1966-1967, be deemed to have been paid out of
the Loan Fund.
Appropriation.
9.The Consolidated Revenue Fund and the Loan
Fund are appropriated as necessary for the purposes of this Act.
________
SCHEDULE Section 3
$ | $ |
NEW SOUTH WALES |
Letona Co-op
Limited....................................................................... | 338,222 |
VICTORIA |
SPC Limited...................................................................................... | 306,375.50 |
Ardmona Fruit
Products Co-operative Company Limited................ | 628,451.50 |
Kyabram
Preserving Company Limited............................................ | 771,018.00 |
1, 705,845 |
SOUTH AUSTRALIA |
Riverland Fruit
Products Co-operative Ltd....................................... | 412,500 |
TOTAL........................................................................................ | 2, |