Apple and Pear (Appropriation) Act 1940

Overview

The Apple and Pear (Appropriation) Act 1940 was enacted by the Parliament of Australia to address the need for repaying advances made by the Commonwealth Bank of Australia to the Commonwealth for the purposes of the National Security (Apple and Pear Acquisition) Regulations. This legislation was introduced to ensure that the financial obligations incurred during the acquisition of apples and pears for national security reasons were met through an appropriation from the Consolidated Revenue Fund. The act provided for the sum of Seven hundred and fifty thousand pounds to be paid from the Consolidated Revenue Fund for the specific purpose of repaying the Commonwealth Bank of Australia. The policy objective of this act was to facilitate the repayment of these advances in order to maintain the financial stability and trust between the Commonwealth and the Commonwealth Bank of Australia.

Scope and Application

The Apple and Pear (Appropriation) Act 1940 is a legislative enactment aimed at providing financial resources to repay funds advanced by the Commonwealth Bank of Australia for the specific purpose of the National Security (Apple and Pear Acquisition) Regulations. This Act applies to the Commonwealth Bank of Australia and the Commonwealth itself, facilitating the repayment of the specified sum to the Bank. The Act applies on a national level within the Commonwealth of Australia, as it pertains to the Consolidated Revenue Fund and the statutory regulations concerning national security. The Act does not specify any exclusions, exemptions, or thresholds, but its application is limited to the appropriation of funds for the repayment of advances made under the National Security (Apple and Pear Acquisition) Regulations. The scope of the Act is confined to the financial transaction specified and does not extend to other sectors or entities beyond those directly involved in the repayment process. The Act commenced on 13th January 1941, following its assent on 16th December 1940.

Key Provisions

The main operative sections of the Apple and Pear (Appropriation) Act 1940 are Section 1 and Section 2 (C1940A00073). Section 1 provides that the Act may be cited as the Apple and Pear (Appropriation) Act 1940. Section 2 specifies that there shall be payable out of the Consolidated Revenue Fund the sum of Seven hundred and fifty thousand pounds for the purpose of repaying to the Commonwealth Bank of Australia the moneys advanced by the Bank to the Commonwealth for the purposes of the National Security (Apple and Pear Acquisition) Regulations. The Act imposes specific obligations on the parties involved, primarily requiring the Commonwealth to repay the sum of Seven hundred and fifty thousand pounds to the Commonwealth Bank of Australia. This repayment is intended to cover the advances made by the Bank for the purposes of the National Security (Apple and Pear Acquisition) Regulations. The Consolidated Revenue Fund is the designated source for this repayment, highlighting the legislative commitment to ensure the repayment is made from public funds. Under the Act, any breach of the obligations or requirements would result in consequences, though the specific legal or financial penalties are not detailed within the provided text of the Act. Typically, failure to comply with legislative mandates can lead to legal action, financial penalties, or other civil or criminal consequences as prescribed by relevant laws. However, the precise nature of these consequences is not outlined in this particular Act. It is important to note that the Act's focus is primarily on the appropriation of funds rather than detailing the specific consequences of non-compliance.