Flax Industry Act Repeal Act 1960

Overview

The Flax Industry Act Repeal Act 1960 was enacted to formally repeal the Flax Industry Act 1953 and to address the need to wind up the affairs of the Flax Commission. This Act was introduced and passed by the Parliament of Australia, receiving Royal Assent on 5 May 1960. The primary objective of the Act was to ensure that the Flax Commission could no longer exercise any of its powers under the Flax Industry Act 1953 except for the specific purpose of winding up its affairs. Additionally, the Act required the Commission to prepare a report and financial statements for the period ending 31 March 1960, which were to be submitted to the Minister and subsequently laid before Parliament. The Act also facilitated the transfer of all property, rights, contracts, and liabilities of the Commission to the Commonwealth, ensuring continuity and legal standing in any existing proceedings.

Scope and Application

The Flax Industry Act Repeal Act 1960 serves to repeal the Flax Industry Act 1953 and outlines the processes and conditions under which this repeal will take effect. This Act applies to the Flax Commission, which was constituted under the Flax Industry Act 1953, and pertains to its powers, properties, and liabilities. The geographic reach of the Act is national, as it applies across the Commonwealth of Australia. Upon the Act receiving Royal Assent, the Flax Commission is prohibited from exercising any powers under the Flax Industry Act 1953 except for winding up its affairs. The Act mandates the Commission to prepare a report and financial statements for the period spanning from 1 July 1959 to 31 March 1960, to be submitted to the Minister and subsequently to the Auditor-General for verification before being tabled in Parliament. The repeal of the Flax Industry Act 1953 transfers all properties and rights of the Commission to the Commonwealth, and any existing contracts, agreements, or instruments involving the Commission will continue with the Commonwealth as the party. Legal proceedings involving the Commission at the time of repeal can be continued with the Commonwealth as the substituted party, and all liabilities and obligations of the Commission are transferred to the Commonwealth. The Act also provides for the appropriation of funds from the Consolidated Revenue Fund to cover any payments necessitated by these transitions.

Key Provisions

The Flax Industry Act Repeal Act 1960 (section 1) provides the framework for repealing the Flax Industry Act 1953 and establishing the procedures for winding up the affairs of the Flax Commission. The Act commences on the day it receives Royal Assent (section 2). For the purposes of this Act, "property" includes money, and "the Commission" refers to the Flax Commission constituted under the Flax Industry Act 1953 (section 3). The Commission is prohibited from exercising any of its powers under the Flax Industry Act 1953 after the Royal Assent of this Act, except for winding-up its affairs (section 4). The Commission has the obligation to prepare and furnish a report to the Minister on its operations, together with financial statements for the period from 1 July 1959 to 31 March 1960 (section 5(1)). Before submission to the Minister, the Commission must submit these financial statements to the Auditor-General for review (section 5(2)). The report, financial statements, and the Auditor-General's report must be presented to each House of Parliament within fifteen sitting days of their receipt by the Minister (section 5(3)). This Act results in the repeal of the Flax Industry Act 1953, effective from a date to be fixed by Proclamation (section 6(1)). All property and rights vested in the Commission immediately before the commencement of this section are vested in the Commonwealth (section 6(3)). Contracts, agreements, or instruments involving the Commission will continue in effect with the Commonwealth substituted for the Commission (section 6(4)). Legal proceedings involving the Commission that were pending or incomplete before the commencement of this section may continue or be completed with the Commonwealth as the party (section 6(5)). All liabilities and obligations of the Commission are transferred to the Commonwealth (section 6(6)). Finally, the Consolidated Revenue Fund is appropriated to cover any payments the Commonwealth is liable to make under this Act (section 6(7)). There are no explicit offences, penalties, or civil/criminal consequences outlined in the text of the Act for non-compliance with its provisions. However, the transfer of liabilities and obligations to the Commonwealth implies that failure to adhere to the prescribed procedures could result in legal ramifications for those involved.