Copper and Brass Strip Bounty Act 1964

Legislation au C1964A00096 Not in force Act

Legislation content

COPPER AND BRASS STRIP BOUNTY.

 

No. 96 of 1964.

An Act to amend the Copper and Brass Strip Bounty Act 1962.

[Assented to 18th November, 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.—(1.) This Act may be cited as the Copper and Brass Strip Bounty Act 1964.

(2.) The Copper and Brass Strip Bounty Act 1962 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the Copper and Brass Strip Bounty Act 1962-1964.

Commencement.

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Interpretation.

3. Section three of the Principal Act is amended—

(a) by adding at the end of sub-section (2.) the following word and paragraph:—

“; and (c) the period of six months commencing on the first day of October, One thousand nine hundred and sixty-four.”; and

(b) by inserting after that sub-section the following sub-sections:—

“(2a.) The Governor-General may, by Proclamation, specify a date, being a date before the thirty-first day of March, One thousand nine hundred and sixty-five, but not before the date on which the Proclamation is published in the Gazette, as the date on which bounty shall cease to be payable.


“(2b.) Where a Proclamation has been made under the last preceding sub-section, then, for the purposes of this Act, the period commencing on the first day of October, One thousand nine hundred and sixty-four, and ending on the date specified in the Proclamation shall be deemed to be, and at all times from the first day of October, One thousand nine hundred and sixty-four, to have been, a period to which this Act applies in lieu of the period of six months commencing on the last-mentioned date.”.

Limit of available bounty.

4. Section eight of the Principal Act is amended by omitting sub-section (1.) and inserting in its stead the following sub-section:—

“(1.) The amount available for payment of bounty—

(a) in respect of metal strip sold in each of the first two periods to which this Act applies—is One hundred and ninety thousand pounds; and

(b) in respect of metal strip sold in the third period to which this Act applies—

(i) if that period ends on the thirty-first day of March, One thousand nine hundred and sixty-five—is Ninety-five thousand pounds; or

(ii) where a Proclamation has been made under sub-section (2a.) of section three of this Act—is the amount that bears to One hundred and ninety thousand pounds the same proportion as the number of days in the period from and including the first day of October, One thousand nine hundred and sixty-four, to the date specified in the Proclamation bears to three hundred and sixty-five.”.

Reduction of bounty where profits exceed ten per centum per annum.

5. Section nine of the Principal Act is amended by omitting sub-section (2.) and inserting in its stead the following sub-section:—

“(2.) For the purposes of the last preceding sub-section, where the Minister is satisfied that the net profit derived by the producer, during an earlier period to which this Act applies, from the production and sale of metal strip for use in Australia, after taking into account bounty in respect of that strip, was less than profit at the rate of ten per centum per annum on the capital used in that production and sale, or that no such profit was derived, he may make such allowance by reason of that fact as he, in his discretion, thinks fit.”.

Overview

The Copper and Brass Strip Bounty Act 1964 was enacted to amend the Copper and Brass Strip Bounty Act 1962, addressing issues related to the payment of bounties for copper and brass strip production in Australia. The Act was assented to on 18th November, 1964, and came into operation on the same date. This legislation was enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, reflecting its importance in regulating the bounty system for the specified metals. The overarching policy objective is to adjust the bounty payment structure and eligibility criteria in response to economic conditions and production metrics, ensuring the scheme remains fair and supportive of the industry.

Scope and Application

The Copper and Brass Strip Bounty Act 1964 applies to producers of copper and brass strip within Australia, providing them with financial incentives, or bounties, for their production efforts during specified periods. This Act serves to amend the earlier Copper and Brass Strip Bounty Act 1962, thereby adjusting the parameters under which the bounty is awarded. The Act applies to persons or entities engaged in the production and sale of copper and brass strip for use within Australia, and it extends to the Commonwealth jurisdiction. The geographic reach of the Act is nationwide, covering all states and territories of Australia. The Act specifies exclusions and thresholds related to the bounty eligibility and payment, such as the limitation of the bounty amount and conditions under which the bounty may be reduced based on the producer's profit margins. The Act also allows for the extension or restriction of its application through subordinate instruments, such as proclamations by the Governor-General to specify dates for the cessation of bounty payments.

Key Provisions

The Copper and Brass Strip Bounty Act 1964 amends the Copper and Brass Strip Bounty Act 1962 to alter the bounty scheme for copper and brass strip sold in Australia. The main operative sections (sections 2 to 5) introduce new provisions regarding the duration of the bounty, the limit of available bounty, and the conditions under which the bounty can be adjusted. Section 3 amends the interpretation clause to extend the period to which the bounty applies and allows the Governor-General to specify an earlier end date for bounty payments. Section 4 modifies the limit of available bounty, setting specific amounts for the first two periods and a formula-based amount for the third period, depending on the duration of that period. Section 5 allows the Minister to make allowances for the bounty if the net profit from the sale of metal strip was less than ten per centum per annum. The Act imposes several obligations on the parties it governs. Producers of copper and brass strip are required to comply with the new bounty limits and conditions set forth in the Act. The Minister must ensure that the bounty is applied according to the provisions outlined, including making allowances if the net profit from earlier periods was below ten per centum per annum. The Governor-General must issue a proclamation if an earlier end date for bounty payments is to be specified, as per section 3(2a). There are no explicit offences, penalties, or civil/criminal consequences mentioned in the Act for breaches of its provisions. However, the Act provides the framework within which the bounty is administered, and any failure to comply with the Act’s requirements could potentially lead to legal challenges or administrative actions. The Minister’s discretion in making allowances under section 5(2) also implies that any misuse or improper application of the bounty could be subject to scrutiny or review.

Legal classification tags

Area of Law
Commercial Law
Instrument
Act
Concepts
Definitions & Interpretation
Commencement Provisions
Repeal & Amendment
Limit of available bounty
Reduction of bounty where profits exceed ten per centum per annum

Interactions

Authorises

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.