Financial Relief Act (No. 2) 1935

Overview

The Financial Relief Act (No. 2) 1935 was enacted to address the pressing financial difficulties faced by primary producers during the economic challenges of the mid-1930s. This Act was passed by the Parliament of the Commonwealth of Australia, aiming to provide necessary financial relief by amending the Financial Relief Act 1934. The key objective of this legislative intervention was to increase the financial support allocated to primary producers by amending the appropriation amount specified in the Principal Act. By enacting this amendment, the government sought to bolster the economic stability and viability of primary producers, thereby mitigating the adverse effects of the economic downturn on this critical sector. The Financial Relief Act (No. 2) 1935 represents a direct response to the economic hardships experienced by primary producers, reflecting a policy objective to enhance financial assistance and support for this essential industry. This legislative effort underscores the government's commitment to addressing sector-specific economic challenges and ensuring the resilience of the agricultural sector during a period of economic uncertainty.

Scope and Application

The Financial Relief Act (No. 2) 1935 amends section nineteen of the Financial Relief Act 1934–1935, which itself has been modified by the Financial Relief Act 1935 and the Primary Producers Relief Act 1935. This Act serves to increase the appropriation for relief to primary producers from £250,000 to £325,000, enhancing financial support for this sector. The application of this Act is national, extending across the Commonwealth of Australia and affecting all entities and persons within the scope of the Financial Relief Act 1934–1935. It does not specify any exclusions, exemptions, or thresholds in its current form. The Act's provisions may be further detailed or extended through subordinate instruments, which are not explicitly mentioned in the provided text.

Key Provisions

The main operative sections of the Financial Relief (No. 2) Act 1935 (section 2) amend the Financial Relief Act 1934-1935 by increasing the appropriation for relief to primary producers from £250,000 to £325,000. This amendment ensures that more funds are available for the financial assistance intended for primary producers, reflecting a shift in the government's commitment to support this sector during economic difficulties. The amendment is straightforward, merely updating the monetary value specified in the original act to better match the needs of the time. The obligations and requirements imposed by the Act on the relevant parties are primarily administrative. The increased appropriation means that the government is obligated to allocate an additional £75,000 to the relief funds for primary producers. This change necessitates adjustments in budgeting and financial planning processes to ensure that the additional funds are effectively managed and distributed. The Act itself does not introduce new administrative burdens beyond this financial adjustment, but it does require meticulous record-keeping to track the increased allocation and its expenditure. Offences, penalties, or consequences for breach under this Act are not explicitly stated within the text provided. Typically, breaches of legislative provisions concerning financial appropriations and amendments are treated under general statutory and common law principles, which may include civil or administrative penalties for mismanagement of funds. While the maximum penalties are not detailed in the excerpt, they would generally be determined based on the severity of the breach and relevant statutory provisions governing financial misconduct and mismanagement of public funds.