STATES GRANTS (SPECIAL FINANCIAL ASSISTANCE).
No. 38 of 1954.
An Act to grant and apply out of the Consolidated Revenue Fund sums
for the purpose of Financial Assistance to the States.
[Assented to 29th October, 1954.]
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 1954.
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-four, for the purpose of financial assistance,
an amount calculated in accordance with the next succeeding section.
Amount
of financial assistance payable.
4. The
amount payable to a State underthis
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-four, is less than the amount that 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 fifty million
pounds.
Appropriation.
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