STATES
GRANTS (SPECIAL FINANCIAL ASSISTANCE).
No. 54 of 1958.
An Act to grant and apply out of the
Consolidated Revenue Fund sums for the purpose of Financial Assistance to the
States.
[Assented
to 1st October, 1958.]
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 1958.
Commencement.
2. This Act shall come into operation on the day on which it receives
the Royal Assent.
Financial
assistance to the 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-eight, 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 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-eight, 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 Two hundred and five million pounds.
Appropriation.
5.