The Dry Dock Guarantee Act 1902 (SA)

ANNO SECUNDO

EDWARDI V11 EEGIS.

A.D. 1902.

No. 811.

An Act to Guarantee Payment of the Interest on the Capital Expended in the Construction of a Dry Dock at Port Adelaide.

[Assen k d to, November 13th, 1902.1

E it Enacted by the Governor, with the advice and consent ot

B the Parliament of South Australia, as follows:

1, This Act may be cited for all purposes as " The Dry Dock short title.

Guarantee Act, 1902."

2. In this Act, unless the context shall otherwise determine- Definition.

" Dock" shall mean the dry dock constructed and situated

as defined by this Act:

" Company " shall mean the persons owning the dock:

a Treasurer " shall mean the Treasurer of the State:

l

Government" shall mean the Government of South Aus-

tralia.

3. The Government, subject to the provisions of this Act, Guarantee, con-

guarantees payment ro the company of interest on the capital ~ ~ ~ ~ ~ l ' ~; $ $ \ ~ ~ r

expended by i t in the construction of a dry lock at Port Adelaide expended.

up to, but not exceeding, the sum of Fifty Thousand Pounds, at the

rate of Three Pounds per centum per annnm for a period of seve.n

years.

811 4, The

2 O EDWARDI VII, No. 811.

The DV Dock Guarantee Act.-1902.

4, The dock, if constructed, shall-

Dock to be con.

etructed at Port (a) Be situated in such a place in the hundred of Port Adelaide

Adelaide - as may be approved by the Govt.rnor:

( b ) Be not less than four hundred and fifty feet in length, and constructed on a site which will allow its extension to six hundred and fifty feet; the width at its entrance to be at least seventy-five feet, and shall be so constructed"as to have not less than twenty-one feet of water on its sill at low water:

Within five years

from passing of Act ( c ) Be constructed within a period of five years from the passing

of this Act, to the approval and satisfaction of the Engineer-

to the approval and

strtiefaction of the

Engineer-in-Chief.	in-Chief.
How moneys received

from dock to be 5, The company shall appropriate the gross earnings from the

applied.	dock in each year after construction, so far as the same will permit,
in the order and manner following: --

( a ) I n payment of the reasonable working and managerial ex-

penses of the dock:

( b ) In payment of interest on the amount hereby guaranteed up

to Three Pounds per centunl per annum:

( c ) Any balance remaining after such last-mentioned payment shall

be placed to an account to be called the interest account, but it shall not be obligatory upon the company to keep more than One Thousand Five Hundred Pounds to the credit of the interest account.

When liability to 6,

No liability for the payment of interest by the Government shnll commence until the Engineer-in-Chief shall have given a written certificate to the Treasurer that the dock has been constructed in accordance with the provisions of this Act.

commence.

Government to pay

under guarantee after	7. The Government shall only be liable to pay interest to the the amount (if any) to the credit of the interest account, shall be insutiicient to pay working expensps and interest as aforesaid; nor shall the Government be liable to pay any interest to the company until after appropri;~tion of the gross earnings and of all moneys to credit in the interest account, as hereinbefore provided.
nll available moneye	company to the extent to which the gross earnings, together with
of company are
expended.

D O C ~ to be kept 8. If at any time the company shall, for a period of three months

available for rhipe. continuously, cease to keep the dock in suitable condition and available for the docking of ships, the guarantee of the Govern- ment under this Act shall cease and determine.

Persons tb be auowed Q. The company shall not preclude any person or persons from

to work in dock or carrying on the business of building or repairing ships in or about

guam,, . ,

the dock, and should it so preclude any such person or persons the'

guarantee of the Government shall thereupon cease and detcrmine.

10. The

z0 EDWARDI VII, No 811. 3

The Dry Dock Gwarantee Act.-1902.

10, The company shall a t thp end of each year, and whenever statement t obe furni~hed by corn

required by the Treasurer so to do, furnish a true statement of pan,.

accounts of all matters affecting the earnings and expe~lditure

connected with the management, maintenance, and working of the

dock, and showing therein all outstanding accounts, actual receipts,

and the expenditure made or proposed to be made.

tee, any officer authorised by the Treasurer may a t all reasonable booh and papers. 11. When any interest is claimed or paid pursuant to the guaran- Treasurer may inspect

times examine and inspect all books and papers of the company.

12. A11 matters in dispute between any of the parties affected by Mattars in dispute to

' be referred to

the provisions of this Act shall be decided by arbitration. S arbitmtion.

13. Al l moneys paid pursuant to this *4ct shall be paid out of the lnbrest to be paid out of General

General Revenue. Revenue.

In the name and on behalf of His Majesty, I hereby assent to

this Bill.

S. J. WAY, Lieutenant-Governor.

- --7

Adelaide : By authority, C. E. BEI~TOW, Government Printer, North Ter*oe.