STATES GRANTS (SPECIAL FINANCIAL
ASSISTANCE).
No.
63 of 1953.
An
Act to grant and apply out of the Consolidated Revenue Fund sums for the
purpose of Financial Assistance to the States.
[Assented to 28th October, 1953.]
BE it enacted
by the Queen’s Most Excellent Majesty, the Senate, and the House of
Representatives of the Commonwealth of Australia, for the purpose of
appropriating the grant originated in the House of Representatives, as
follows:—
Short
title
1. This Act may be cited as the States Grants (Special
Financial Assistance) Act 1953
Commencement.
2.This Act shall come into operation on the day on which
it receives the Royal Assent.
Financial
assistance to States.
3.There is payable to each State, during the year which
commenced on the first day of July, One thousand nine hundred and fifty-three,
for the purpose of financial assistance, an amount or amounts calculated in
accordance with the next succeeding section.
Amount
of financial assistance payable.
4.—(1.) Subject to the next succeeding sub-section,
the amount payable to a State under this Act is the amount by which the amount
calculated in respect of that State under sections six and seven of the States Grants (Tax Reimbursement) Act 1946-1948
in respect of the year which commenced on the first day of July, One thousand
nine hundred and fifty-three, is less than the amount which would be payable to
that State if the aggregate grant to be divided amongst the States in
accordance with section seven of that Act in respect of that year were One
hundred and forty-two million pounds.
(2.) In addition to the amount calculated in
accordance with the last preceding sub-section, there is payable—
(a) to the State of Victoria, the amount
(if any) by which the amount so calculated in respect of that State is less
than Thirty-five million pounds; and
(b) to the State of Tasmania, an amount
of Forty thousand pounds.
Appropriation.
5.