CELLULOSE ACETATE FLAKE BOUNTY.
No. 48 of 1964.
An Act to amend the Cellulose Acetate Flake Bounty Act 1956-1961.
[Assented to 28th May, 1964.]
[Date of commencement, 25th June, 1964.]
BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—
Short title and citation.
1.—(l.) This Act may be cited as the Cellulose Acetate Flake Bounty Act 1964.
(2.) The Cellulose Acetate Flake Bounty Act 1956-1961 is in this Act referred to as the Principal Act.
(3.) The Principal Act, as amended by this Act, may be cited as the Cellulose Acetate Flake Bounty Act 1956-1964.
Specification of bounty.
2. Section five of the Principal Act is amended by adding at the end thereof the following sub-section:—
“(2.) The bounty is also payable in respect of cellulose acetate flake produced at a factory and, in the period commencing on the first day of July, One thousand nine hundred and sixty-four, and ending on the thirty-first day of December in that year, sold for use in the manufacture in Australia of cellulose acetate rayon yarn.”.
3. Section eight of the Principal Act is repealed and the following section inserted in its stead:—
Limit of bounty.
“8.—(1.) The amount available for payment of bounty is—
(a) in respect of cellulose acetate flake sold in each of the last two years to which this Act applies—Ninety thousand pounds; and
(b) in respect of cellulose acetate flake sold in the period referred to in sub-section (2.) of section five of this Act—Forty-five thousand pounds.
“(2.) Where the amount available for the payment of bounty in respect of cellulose acetate flake sold in a year or other period referred to in the last preceding sub-section is insufficient for the payment in full of all valid claims, the bounty otherwise payable in respect of each of those claims shall be reduced to an amount that bears the same proportion to the amount of the claim as the amount so available bears to the total amount of all of those claims.
“(3.) If the Minister is of the opinion that the amount available for the payment of bounty in respect of cellulose acetate flake sold in a year or other period referred to in sub-section (1.) of this section will be insufficient for the payment in full of all valid claims, he may withhold payment of the whole or any part of the bounty otherwise payable upon any of those claims until he has ascertained the total value of all of those claims.”.
Overview
The Cellulose Acetate Flake Bounty Act 1964 was enacted to amend the Cellulose Acetate Flake Bounty Act 1956-1961, extending the scope of the bounty to include cellulose acetate flake produced and sold for use in the manufacture of cellulose acetate rayon yarn within a specified period. This Act was passed by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, and it commenced on 25th June, 1964. The policy objective of this legislation was to provide financial incentives for the production of cellulose acetate flake for specific industrial use, ensuring the availability of necessary materials for the manufacturing sector while managing the financial burden through a structured bounty limit.
Scope and Application
The Cellulose Acetate Flake Bounty Act 1964 amends the Cellulose Acetate Flake Bounty Act 1956-1961, and applies to entities involved in the production and sale of cellulose acetate flake in Australia. Specifically, the Act extends the scope of bounty eligibility to include cellulose acetate flake produced at a factory and sold for use in the manufacture of cellulose acetate rayon yarn within the specified period from July 1, 1964, to December 31, 1964. This Act operates within the Commonwealth jurisdiction, impacting industry practices and transactions related to the specified cellulose acetate flake production and sale. The Act specifies the financial limits for the bounty payments, detailing the allocation of funds for claims made within the two-year period covered by the Principal Act and the additional period defined by this amendment. Should the available bounty funds be insufficient to meet all valid claims, the bounty payable to each claimant will be proportionately reduced. Furthermore, the Minister has the discretion to withhold payments until the total value of all claims is ascertained.
Key Provisions
The Cellulose Acetate Flake Bounty Act 1964 amends the Cellulose Acetate Flake Bounty Act 1956-1961 to include new provisions for the payment of bounty on cellulose acetate flake produced and sold for use in the manufacture of cellulose acetate rayon yarn in Australia between 1 July 1964 and 31 December 1964 (section 2). This addition extends the scope of the bounty to cover a specific period and purpose, previously not covered under the Principal Act. The Act also modifies the limit of bounty available, setting aside specific amounts for different periods: ninety thousand pounds for each of the last two years and forty-five thousand pounds for the period from 1 July to 31 December 1964 (section 8). If the bounty available is insufficient to cover all valid claims, the bounty payable is pro-rated based on the proportion of the available amount to the total claims (section 8(2)). Furthermore, the Minister has the discretion to withhold part of the bounty payment until the total value of claims is ascertained (section 8(3)).
Under the Act, there are specific obligations and requirements for the parties involved. Manufacturers of cellulose acetate flake who wish to claim the bounty must ensure their production and sales activities fall within the defined periods and uses as stipulated in the Act. They must also comply with any additional requirements or documentation specified by the Minister to substantiate their claims. Additionally, the Minister has a responsibility to manage the bounty fund, ensure the correct distribution of the bounty, and make decisions on withholding payments if necessary to prevent over-commitment of the available funds (section 8(3)).
Failure to comply with the requirements or the misuse of the bounty provisions can result in serious consequences. While the Act does not explicitly state the penalties for non-compliance, it is reasonable to infer that breaches could lead to legal actions under relevant administrative or penal laws. Given the nature of the Act, penalties could include fines, recovery of incorrectly paid bounties, and possibly other administrative sanctions. The exact penalties would be determined in accordance with the general legal principles and specific regulations governing the administration of bounties and subsidies in Australia.