COPPER BOUNTY.
No. 31 of 1960.
An Act to amend the Copper Bounty Act 1958.
[Assented to 26th May, 1960.]
[Date of commencement, 23rd June, 1960.]
BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, for the purpose of appropriating the grant originated in the House of Representatives, as follows:—
Short title and citation.
1.—(1.) This Act may be cited as the Copper Bounty Act 1960.
(2.) The Copper Bounty Act 1958 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 Bounty Act 1958-1960.
Interpretation.
2. Section three of the Principal Act is amended—
(a) by inserting in sub-section (1.), after the definition of “the Comptroller-General”, the following definition:—
“‘the prescribed quantity’ means—
(a) in relation to the first or second year to which this Act applies—fifty tons; and
(b) in relation to the period commencing on the first day of July, One thousand nine hundred and sixty, and ending on the thirty-first day of December of that year—twenty-five tons;”;
(b) by omitting from paragraph (a) of the definition of “year to which this Act applies” in sub-section (1.) the word “or”; and
(c) by adding at the end of that definition the following word and paragraph:—
“; or (c) the period commencing on the first day of July, One thousand nine hundred and sixty, and ending on the thirty-first day of December of that year.”.
Reduction of bounty where profits exceed ten per centum per annum.
3. Section eight of the Principal Act is amended—
(a) by omitting from sub-section (2.) the words “the second year to which this Act applies” and inserting in their stead the words “a year to which this Act applies other than the first such year”;
(b) by omitting from sub-section (2.) the words “during the first year” and inserting in their stead the words “during an earlier year”;
(c) by omitting from sub-section (2.) the words “in that first year” and inserting in their stead the words “in that earlier year”; and
(d) by omitting from sub-section (6.) the words “fifty tons” and inserting in their stead the words “the prescribed quantity”.
Return for Parliament.
4. Section twenty-one of the Principal Act is amended by omitting from paragraph (a) of sub-section (1.) the words “fifty tons” and inserting in their stead the words “the prescribed quantity”.
Overview
The Copper Bounty Act 1960 was enacted by the Queen's Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia to amend the Copper Bounty Act 1958. The Act was designed to address certain deficiencies in the original legislation by introducing specific changes to the definitions and provisions within the Copper Bounty Act 1958. The changes introduced by this Act include adjustments to the prescribed quantity of copper eligible for bounty payments, the reduction of bounty where profits exceed a certain percentage, and amendments to the return for Parliament. This amendment act commenced on 23rd June, 1960, and it allows the amended Principal Act to be cited as the Copper Bounty Act 1958-1960.
The primary policy objective of the Copper Bounty Act 1960 is to refine the financial support mechanisms for copper production, ensuring that the bounty system remains effective and equitable. By adjusting the prescribed quantity of copper and modifying the conditions under which bounty reductions apply, the Act aims to support the copper industry while maintaining fiscal responsibility. These changes are intended to provide clarity and stability to the copper bounty system, ultimately benefiting both producers and the broader economy.
Scope and Application
The Copper Bounty Act 1960 is an amendment to the Copper Bounty Act 1958, enacted to appropriate a grant originating in the House of Representatives. This Act applies to the entities and persons engaged in the copper industry within the Commonwealth of Australia. The legislation modifies the scope of the bounty provided to copper producers based on their profit margins, specifically reducing the bounty for those whose profits exceed a certain threshold. The geographic reach of the Act is limited to the Commonwealth, affecting all relevant entities and individuals operating within Australia. The Act also introduces the concept of a "prescribed quantity" of copper, which is defined differently for specific periods within the year, affecting the bounty calculation. Any changes to the bounty or prescribed quantities are to be made through amendments to the Act, as it does not extend its application through subordinate instruments.
Key Provisions
The Copper Bounty Act 1960 amends the Copper Bounty Act 1958, introducing specific changes to the definitions and conditions governing the copper bounty. Section 1 establishes the short title and citation for the Act, referring to the 1958 Act as the "Principal Act" and the amended version as the "Copper Bounty Act 1958-1960". Section 2 amends the interpretation section of the Principal Act, defining "the prescribed quantity" as fifty tons for the first and second years, and twenty-five tons for the period from July 1, 1960, to December 31, 1960. This change modifies the definition of "year to which this Act applies" by removing the word "or" and adding a new paragraph (c) to specify the latter period.
Section 3 modifies the conditions under which the bounty may be reduced if profits exceed ten percent per annum. It amends the Principal Act to adjust the language in sub-section (2) of Section 8, replacing references to "the second year" with "a year to which this Act applies other than the first such year", and changing "during the first year" to "during an earlier year" in sub-section (2). Furthermore, it updates sub-section (6) by replacing "fifty tons" with "the prescribed quantity". These changes ensure that the bounty reduction conditions are applied consistently across the specified periods.
The obligations and requirements imposed by the Act on the parties involved include adherence to the newly defined "prescribed quantity" when calculating the bounty. Those involved in the copper industry must ensure that they report quantities accurately according to the specified periods: fifty tons for the first and second years, and twenty-five tons for the period from July 1, 1960, to December 31, 1960. Additionally, the changes to sub-section (2) in Section 3 necessitate that the conditions for reducing the bounty based on profit margins are applied correctly, ensuring compliance with the amended provisions.
The Act does not explicitly state any offences, penalties, or consequences for breaches. However, by amending the conditions for bounty eligibility and reporting, it implies that non-compliance could result in penalties or legal consequences under the broader legislative framework governing copper bounties. Although specific penalties are not outlined in the Act, breaches of such provisions could lead to civil or criminal actions, including fines or other sanctions as determined by relevant authorities. The exact penalties would depend on the jurisdiction and the nature of the breach.