Australian Coastal Shipping Commission Act 1966

Overview

The Australian Coastal Shipping Commission Act 1966 was enacted to address the need for amendments to the Australian Coastal Shipping Commission Act 1956–1964, particularly in light of the transition to decimal currency. This Act was brought into force by the Queen’s Most Excellent Majesty, with the assent and cooperation of the Senate and the House of Representatives of the Commonwealth of Australia. The primary objective of this legislation is to update the Principal Act by omitting certain subsections and adjusting monetary values to align with the decimal currency system. The amendments focus on modifying specific sections to reflect the new currency values, ensuring that the legal framework remains relevant and effective in the changed economic environment. The Act commenced on 29 April 1966, providing a structured transition for the Australian Coastal Shipping Commission to operate under the new monetary standards.

Scope and Application

The Australian Coastal Shipping Commission Act 1966 amends the Australian Coastal Shipping Commission Act 1956–1964 to adjust borrowing provisions and update references to monetary amounts in response to the decimal currency reform in Australia. This Act applies to the Australian Coastal Shipping Commission, a statutory body established under the Principal Act, and to any entities or persons subject to the Commission's regulatory authority in the context of coastal shipping activities. The jurisdictional reach of this Act is federal, applying across the Commonwealth of Australia. There are no specific exclusions or exemptions noted within the text, and the amendments pertain specifically to updating monetary figures to align with the new decimal currency system. The amendments made by this Act are direct and do not extend through subordinate instruments, as all necessary changes are incorporated within the Act itself and the accompanying Schedule.

Key Provisions

The Australian Coastal Shipping Commission Act 1966 (referred to as the "Act") amends the Australian Coastal Shipping Commission Act 1956–1964 (referred to as the "Principal Act"). The Act primarily deals with modifications to the Principal Act in relation to borrowing by the Commission and the conversion of currency to decimal format. Section 2 of the Act removes subsection (6) from section 30 of the Principal Act, which pertains to borrowing by the Commission. This amendment likely streamlines the borrowing processes for the Commission, although the exact implications are not detailed in the text provided. The Act imposes certain obligations and requirements on the Australian Coastal Shipping Commission, particularly in light of the changes to monetary values in the Principal Act. For example, section 3 of the Act, through the Schedule, adjusts various monetary thresholds and values from pounds to dollars to reflect the decimal currency system adopted in Australia. This includes updating figures in sections 16(3), 22(2), 48(4), 49(1)(g), and 50 of the Principal Act. These changes ensure that the monetary provisions within the Principal Act remain relevant and consistent with the new currency system. Regarding consequences for breach, the Act does not explicitly outline specific offences, penalties, or consequences for non-compliance within the provided text. However, it is reasonable to infer that any failure to adhere to the monetary adjustments and borrowing provisions outlined in the Act could potentially lead to legal repercussions. These might include administrative actions, fines, or other penalties as might be prescribed under the broader legal framework governing the Commission. The exact nature and severity of these consequences would depend on additional legislative provisions and regulatory guidelines that are not detailed in the text provided.