Albury-Wodonga Development (Financial Assistance) Amendment Act 1982
No. 42 of 1982
An Act to vary the conditions of certain financial assistance provided pursuant to the Albury-Wodonga Development (Financial Assistance) Act 1973 and to repeal section 10 of that Act
[Assented to 9 June 1982]
BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:
Short title, &c.
1. (1) This Act may be cited as the Albury-Wodonga Development (Financial Assistance) Amendment Act 1982.
(2) The Albury-Wodonga Development (Financial Assistance) Act 19731 is in this Act referred to as the Principal Act.
Commencement
2. (1) Subject to sub-section (2), this Act shall come into operation on the day on which it receives the Royal Assent.
(2) Section 3 shall be deemed to have come into operation on 1 July 1981.
Payment for certain purposes to be loans
3. Section 10 of the Principal Act is repealed.
Conditions relating to repayment, &c., of certain financial assistance deemed to cease to apply
4. (1) Where an amount by way of financial assistance in respect of expenditure referred to in section 4 of the Principal Act, other than financial assistance in respect of such of that expenditure as was expenditure on municipal works, was paid or advanced under the Principal Act as in force at a time before the commencement of section 3 of this Act to a State by way of a loan—
(a) every condition to which that payment or advance was subject immediately before 1 July 1981, being a condition relating to—
(i) the repayment of the principal, or payment of interest, by the State in respect of that payment or advance; or
(ii) the payment by the State of an amount in respect of such interest,
shall be deemed to have ceased to apply in relation to that payment or advance on 1 July 1981; and
(b) where, by reason of such a condition, an amount of interest payable by the State in respect of that payment or advance, or an amount payable by the State in respect of such interest, had accrued before that date, but that amount had not been, and was not required to be, paid before that date, the obligation to pay that amount shall be deemed to have ceased on that date.
(2) Nothing in sub-section (1) shall be taken to affect any condition other than a condition referred to in that sub-section to which a payment or advance to which that sub-section applies is, or has at any time been, subject.
NOTE
1. No. 190, 1973. For previous amendments, see No. 36, 1978.
Overview
The Albury-Wodonga Development (Financial Assistance) Amendment Act 1982 was enacted to modify the financial assistance conditions set out in the Albury-Wodonga Development (Financial Assistance) Act 1973. The legislation was passed by the Queen, in accordance with the authority of the Senate and the House of Representatives of the Commonwealth of Australia, aiming to amend specific provisions of the principal Act to better suit the developmental needs of the region. The primary objective of this amendment was to address the financial assistance related to the Albury-Wodonga region's development by altering certain conditions, including the cessation of repayment obligations for financial assistance provided before a specific date. This Act specifically repealed section 10 of the Principal Act and altered the conditions relating to the repayment of loans given for certain purposes.
Scope and Application
The Albury-Wodonga Development (Financial Assistance) Amendment Act 1982 is a piece of legislation that amends the conditions of financial assistance provided under the Albury-Wodonga Development (Financial Assistance) Act 1973. This Act applies specifically to financial assistance paid or advanced to a state under the Principal Act as a loan, with the exception of assistance related to municipal works. The Act modifies the terms of repayment and interest payments for such loans, deeming certain conditions to cease to apply as of 1 July 1981. This includes the cessation of obligations for repayment of principal, interest, or any accrued interest that had not been paid prior to this date. Importantly, the Act does not affect conditions other than those specifically related to repayment and interest. The Act extends to the Commonwealth of Australia and applies to any financial assistance provided under the Principal Act before the specified amendments took effect, thus impacting the terms of financial agreements and obligations between the Commonwealth and the states involved in the Albury-Wodonga Development project.
Key Provisions
The Albury-Wodonga Development (Financial Assistance) Amendment Act 1982 (hereafter referred to as the "Amendment Act") primarily modifies the financial assistance provisions stipulated in the Albury-Wodonga Development (Financial Assistance) Act 1973 (the "Principal Act"). Section 3 of the Amendment Act repeals section 10 of the Principal Act, while Section 4 details that certain conditions relating to the repayment of principal and interest, as well as any interest payable by the state, are deemed to have ceased on 1 July 1981. It is important to note that this cessation of conditions applies specifically to financial assistance provided for expenditures under the Principal Act, excluding those for municipal works.
Under the Amendment Act, the obligations imposed on the parties involved are primarily centred on the cessation of certain conditions related to financial assistance payments. For example, Section 4(1)(a) stipulates that conditions relating to the repayment of principal or interest, as well as any interest payable by the state, cease to apply to payments or advances made under the Principal Act before the commencement of Section 3 of the Amendment Act. Moreover, Section 4(1)(b) indicates that any accrued interest or interest payable by the state, which was not required to be paid before 1 July 1981, shall no longer be payable. The Amendment Act does not alter any other conditions to which the financial assistance payments may be subject.
The Amendment Act also outlines the consequences of breaching the provisions outlined within it. However, the text of the Act does not explicitly state any offences, penalties, or civil or criminal consequences for breach. It is essential to consult the Principal Act or relevant case law to determine any potential repercussions for non-compliance with the provisions of the Amendment Act. It is worth noting that the maximum penalties for breaches of financial assistance-related legislation can vary, and the relevant authorities should be consulted for specific details.