Cellulose Acetate Flake Bounty Act 1973

Overview

The Cellulose Acetate Flake Bounty Act 1973 was enacted to amend the Cellulose Acetate Flake Bounty Act 1956–1971. This Act was passed by the Queen, the Senate, and the House of Representatives of Australia and received Royal Assent on 19 September 1973. The primary objective of this legislation was to update the bounty rates and the period to which the bounty applied for cellulose acetate flake, thereby ensuring that the incentives for the industry remained relevant and effective. The Act specified the new bounty rate of 8.8 cents per kilogram for cellulose acetate flake sold after its commencement and adjusted the available bounty amounts for specific periods, reflecting the changing needs and circumstances of the industry.

Scope and Application

The Cellulose Acetate Flake Bounty Act 1973 applies to the bounty paid for cellulose acetate flake sold within Australia, specifically addressing the period from 1 January 1973 to 30 June 1976. This Act amends the Cellulose Acetate Flake Bounty Act 1956–1971, which it refers to as the Principal Act, and together they constitute the Cellulose Acetate Flake Bounty Act 1956–1973. The Act establishes the bounty rate for cellulose acetate flake sold post-amendment at 8.8 cents per kilogram and specifies the financial limits for bounty payments, allocating $200,000 for the years 1973 and the two years following, and $100,000 for the period from 1 January 1976 to 30 June 1976. The geographic scope of the Act is nationwide, affecting all entities and persons involved in the sale of cellulose acetate flake within Australia during the specified period. The Act does not explicitly mention any exclusions, exemptions, or thresholds, nor does it indicate any extension or restriction of its application through subordinate instruments.

Key Provisions

The Cellulose Acetate Flake Bounty Act 1973 amends the Cellulose Acetate Flake Bounty Act 1956–1971, with specific changes outlined in its provisions. Firstly, Section 3 redefines the "period to which this Act applies" to include the year beginning on 1 January 1973, the two succeeding years, and the period from 1 January 1976 to 30 June 1976. This change ensures clarity on the timeframes for which the bounty applies. Secondly, Section 4 repeals Section 7 of the Principal Act and introduces a new rate for the bounty on cellulose acetate flake sold on or after the Act’s commencement, setting it at 8.8 cents per kilogram (Section 7). Thirdly, Section 5 amends Section 8 of the Principal Act to specify the limits for bounty payments, setting a cap of Two hundred thousand dollars for periods other than the 1976 period, and One hundred thousand dollars for the 1976 period (Section 8(1)). The Act imposes several obligations on the parties involved, primarily those responsible for the production and sale of cellulose acetate flake. These obligations include adhering to the newly defined periods for which the bounty applies and ensuring that any bounty claims fall within the specified monetary limits. Producers must also provide accurate records and documentation of their sales to substantiate their claims for the bounty. Furthermore, the Act mandates that all bounty payments must be made in accordance with the rates and limits outlined within the Act, ensuring that the financial support provided is correctly allocated. Failure to comply with the provisions of the Cellulose Acetate Flake Bounty Act 1973 can result in various consequences. Section 10 stipulates that any person found guilty of providing false or misleading information in their bounty claims is liable for penalties. The maximum penalty for such offences is set at five thousand dollars or imprisonment for a term of up to two years, or both (Section 10). Additionally, any person who fails to meet the obligations or requirements outlined in the Act may be subject to legal action, including fines and potential disqualification from future bounty payments. These provisions ensure that the bounty system remains fair and properly administered, protecting the integrity of the financial support provided to the industry.