STATUTORY RULES.
1940. No. 173.
REGULATIONS UNDER THE NATIONAL SECURITY ACT 1939-1940.*
I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the National Security Act 1939-1940.
Dated this twenty first day of August, 1940.
(SGD.) GOWRIE.
Governor-General.
By His Excellency’s Command,
for and on behalf of the Minister of State for Defence Co-ordination.
Amendment of National Security (Hide and Leather Industries) Regulations.†
Commencement.
1. These Regulations shall be deemed to have commenced on the date of commencement of the National Security (Hide and Leather Industries) Regulations.
Finance.
2. Regulation 33 of the National Security (Hide and Leather Industries) Regulations is amended by inserting after sub-regulation (2.) the following sub-regulations:—
“(2a.) The Board may withdraw from the account any moneys not immediately required for any of the purposes specified in the last preceding sub-regulation, and may lodge those moneys on fixed deposit in the name of the Board at the Commonwealth Bank of Australia for such period as the Board thinks fit.
“(2b.) Notwithstanding anything contained in this regulation, the Board may authorize any person licensed under regulation 17 of these Regulations to receive any moneys derived from the sale of or other dealings in any hides by him on behalf of the Commonwealth, and—
(a) to deduct therefrom any amounts payable to that person under these Regulations in connexion with those hides; and
(b) to pay thereout any compensation payable to any person in respect of those hides.
* Notified in the Commonwealth Gazette on , 1940.
† Statutory Rules 1939, No. 153.
4775.—6/5.8.1940.—Price 3d.
“(2c.) Any person authorized under the last preceding sub-regulation to receive moneys shall—
(a) as soon as practicable, pay to the Board the balance (if any) remaining after making all authorized deductions and payments; and
(b) present to the Board such returns and accounts as the Board directs.”.
By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.
Overview
The Statutory Rules 1940, No. 173, titled Regulations under the National Security Act 1939-1940, was introduced to provide additional regulatory mechanisms to support the National Security Act 1939-1940. Enacted by the Governor-General in Council, these regulations aimed to refine and enhance the existing legislative framework, particularly concerning the management and control of financial transactions within the hide and leather industries. The policy objective was to ensure that the financial operations related to these industries were effectively regulated and aligned with national security requirements during a time of heightened national concern. These regulations sought to provide the Board with more flexibility in managing funds and ensuring accountability within the specified industries.
Scope and Application
The Statutory Rules 1940, No. 173, made under the National Security Act 1939-1940, pertain specifically to the amendment of the National Security (Hide and Leather Industries) Regulations. These regulations apply to entities within the hide and leather industries and govern financial transactions related to hides and leather within the Commonwealth of Australia. The amendment allows the Board to withdraw moneys not immediately required for specified purposes and to lodge them on fixed deposit, while also permitting authorised individuals to handle moneys from hides sales, including deductions and compensations, with mandatory reporting to the Board. The Regulations extend to transactions within the industries specified and are subject to the overarching National Security Act, with any additional specifics or exclusions being detailed within the principal Act or subsequent subordinate instruments.
Key Provisions
The main provisions of these Regulations, as outlined in the Statutory Rules, pertain to the amendment of the National Security (Hide and Leather Industries) Regulations. Specifically, Regulation 33 is amended with the addition of new sub-regulations (2a), (2b), and (2c) (sub-regulation (2) of Regulation 33). These new sub-regulations allow the Board to withdraw moneys not immediately required for specified purposes and lodge them on fixed deposit (sub-regulation (2a)). Furthermore, the Board can authorize licensed persons to handle moneys derived from the sale or other dealings in hides, including deductions for amounts payable to the licensed person and payments of compensation to others (sub-regulation (2b)). The authorised person is also required to remit the remaining balance to the Board and submit any requested returns and accounts (sub-regulation (2c)).
Under these Regulations, the Board is given the authority to manage funds in a manner that ensures their prudent use, including the ability to place unneeded funds on fixed deposit. The Board can also delegate specific financial responsibilities to licensed persons, who must handle these funds in accordance with the terms set out in the Regulations. Licensed persons must ensure that any balances remaining after deductions and payments are remitted to the Board and must provide any requested financial documentation. These provisions aim to facilitate efficient financial management within the context of the hide and leather industries under the broader framework of national security.
The Regulations impose several obligations on the parties involved. The Board must exercise its discretion in managing funds, ensuring that unneeded moneys are placed on fixed deposit. Licensed persons authorised by the Board must handle funds derived from hide sales or dealings in a manner that complies with the Regulations. This includes making deductions for any amounts owed to the licensed person and paying any compensation due to others. Licensed persons must also remit any remaining balances to the Board and provide any required financial returns and accounts. These obligations are designed to ensure that financial transactions within the hide and leather industries are conducted transparently and in accordance with the provisions of the National Security Act 1939-1940.
Failure to comply with the provisions of these Regulations could result in various consequences, including civil or criminal penalties. However, the specific offences, penalties, or consequences are not detailed within the text of these Regulations. The National Security Act 1939-1940, under which these Regulations are made, likely provides for enforcement mechanisms and penalties for non-compliance. Entities and individuals failing to meet their obligations under these Regulations could face legal action, fines, or other sanctions as prescribed by the overarching legislation. The precise penalties would depend on the nature and severity of the breach, as well as the provisions of the primary Act.