Cellulose Acetate Flake Bounty Act 1971

Overview

The Cellulose Acetate Flake Bounty Act 1971 was enacted to amend the Cellulose Acetate Flake Bounty Act 1956–1970, updating the duration and rate of the bounty on cellulose acetate flake. This Act was assented to by Queen Elizabeth II on 19 March 1971 and was enacted by the Australian Parliament. The primary objective of this legislation was to extend the period in respect of which the bounty is payable and to adjust the rate of the bounty for the cellulose acetate flake sold within specific timeframes. The Act also set the limit of available bounty for each period, ensuring that the bounty remains within the financial constraints set by the government.

Scope and Application

The Cellulose Acetate Flake Bounty Act 1971 applies to the bounty payable on cellulose acetate flake sold within specific periods and years as outlined in the Act. It amends the Cellulose Acetate Flake Bounty Act 1956–1970, extending its application to cover the period from 1 July 1970 to 31 December 1970, as well as the years 1971, 1972, and 1973. The Act is applicable nationally, within the Commonwealth of Australia, and applies to any person or entity involved in the sale of cellulose acetate flake within the specified timeframes. There are no stated exclusions or exemptions within the Act itself, though its application may be further defined or restricted through subordinate instruments. The Act sets the rate of bounty for cellulose acetate flake sold within the specified periods and limits the amount of bounty available for each period.

Key Provisions

The Cellulose Acetate Flake Bounty Act 1971 primarily amends and extends the bounty provisions related to cellulose acetate flake set out in the Cellulose Acetate Flake Bounty Act 1956–1970 (referred to as the Principal Act). The operative sections of this Act, namely sections 3, 4, 5, and 6, make significant changes to the definitions, period of bounty payment, rate of bounty, and the limit of available bounty. The Act extends the period for which a bounty is payable for cellulose acetate flake sold from 1 July 1970 to 31 December 1973. It also modifies the rate of bounty from 5 cents per pound to 4 cents per pound for flake sold after 1 December 1970. Furthermore, it specifies the limits of available bounty for each period, ranging from $93,330 for the period 1 July 1970 to 30 November 1970, to $200,000 for each of the years 1971, 1972, and 1973. The Act imposes several obligations on the entities and individuals it governs. Firstly, it mandates that the bounty is payable only for cellulose acetate flake sold within the specified periods outlined in section 3. The rate of bounty must adhere to the rates defined in section 5, which stipulate 5 cents per pound for flake sold before 1 December 1970 and 4 cents per pound for flake sold on or after that date. Additionally, the total amount of bounty available for each specified period, as set out in section 6, must be respected, and claims for bounty must not exceed these limits. Failure to comply with these provisions could result in the denial of bounty payments. Breach of the requirements set out in the Cellulose Acetate Flake Bounty Act 1971 can lead to various civil and criminal consequences. While the Act does not explicitly list offences or penalties, the non-compliance with the bounty provisions can result in the disqualification from receiving the bounty, as well as potential legal action for misrepresentation or fraud. In cases where deliberate misreporting or fraudulent claims are made, the offenders could face criminal charges under related legislation, which might include fines and imprisonment. The specific penalties would depend on the nature and severity of the breach, as well as any additional laws applicable to the case.