Copper Bounty Act 1963

Overview

The Copper Bounty Act 1963 was enacted by the Commonwealth Parliament to amend the existing Copper Bounty Act 1958–1960. This Act was introduced to address issues related to the bounty payable to copper producers under certain conditions. The primary policy objective of the Act is to adjust the criteria for bounty reductions based on the quantity of refined copper produced and sold by the producers. This amendment aims to provide more precise guidelines for bounty calculations, ensuring that smaller producers are not disproportionately affected by the bounty reduction provisions. The Act also includes provisions for the delegation of powers and functions under the Act by the Minister or the Comptroller-General, thereby facilitating more efficient administration of the bounty scheme. By amending the Principal Act, this legislation effectively updates the bounty criteria and delegation mechanisms to better suit the needs of the copper industry during the specified periods.

Scope and Application

The Copper Bounty Act 1963 amends the Copper Bounty Act 1958–1960 to adjust the terms under which a bounty is payable to producers of refined copper. This legislation applies to producers of refined copper who meet certain thresholds of copper ore production and sales within specified periods. The Act specifies conditions under which the bounty payable to a producer is reduced if their profits exceed a certain percentage. The geographic reach of this Act is national, as it pertains to the Commonwealth of Australia. The Act allows for delegation of powers and functions by the Minister or the Comptroller-General, though this delegation is revocable at will and does not preclude the exercise of these powers by the Minister or the Comptroller-General themselves. There are no stated exclusions, exemptions, or specific thresholds within the text provided, though the Act does refer to specific periods for determining copper production quantities.

Key Provisions

The Copper Bounty Act 1963 amends the Copper Bounty Act 1958–1960, introducing specific changes to the eligibility criteria and bounty payment conditions for copper producers. Section 3 of the Act reduces the bounty payable to producers in certain circumstances, specifically where profits exceed ten per cent per annum. The bounty will not be reduced if the producer sells less than a specified amount of refined copper during the applicable period (subsection 6 of section 8). The Act further amends the definition of certain terms by omitting and adding new paragraphs to section 2 of the Principal Act (subsection 2(a), (b), (c), (h), and (i)) and modifies the eligibility criteria for returns to be submitted to Parliament by removing certain conditions in section 21 of the Principal Act (subsection 4). Additionally, the Act introduces a new section, 21a, which allows the Minister or the Comptroller-General to delegate their powers and functions under the Act to a delegate, either generally or in relation to specific matters or areas (subsections 21a(1), (2), and (3)). Under the Copper Bounty Act 1963, copper producers are subject to specific obligations regarding the quantity of refined copper they must produce to remain eligible for the bounty. Producers must ensure that the quantity of refined copper obtained from copper ore during the applicable period is less than fifty tons (subsection 6(a) of section 8) or twenty-five tons (subsection 6(b) of section 8) depending on the period in which the refined copper is sold. For the periods commencing on the first day of January, One thousand nine hundred and sixty-four, and ending on the thirty-first day of December, One thousand nine hundred and sixty-five, the quantity must be less than one hundred tons (subsection 6(c) of section 8). Producers must also adhere to the new eligibility criteria for submitting returns to Parliament, ensuring they are not referred to in subsection 6 of section 8 (subsection 4). Furthermore, the Minister or the Comptroller-General may delegate their powers and functions under the Act, subject to the terms and conditions set out in section 21a. The Copper Bounty Act 1963 imposes specific penalties and consequences for breaches of its provisions. While the Act does not explicitly state penalties, it is implied that non-compliance with the bounty payment conditions and eligibility criteria may result in the denial of the bounty to producers. Additionally, the delegation of powers under section 21a must be exercised in accordance with the instrument of delegation, and any delegation is revocable at will. Failure to adhere to these terms may result in the invalidation of the delegation and the exercise of the powers or performance of the functions by the Minister or the Comptroller-General themselves. The Act does not specify maximum penalties for breaches, but non-compliance with the bounty conditions and eligibility criteria may lead to significant financial losses for producers.