STATES GRANTS (SPECIAL FINANCIAL ASSISTANCE).
No. 108 of 1956.
An Act to grant and apply
out of the Consolidated Revenue Fund sums for the purpose of Financial
Assistance to the States.
[Assented to 15th November, 1956.]
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 1956.
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-six, 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-six, 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 seventy-three
million pounds.
(2.) In
addition to the amount calculated in accordance with the last preceding
sub-section, there is payable to the State of Victoria an amount of One million
and fifty thousand pounds.
Appropriation.
5.