New Guinea Timber Agreement Act 1953

Overview

The New Guinea Timber Agreement Act 1953 was enacted to amend the New Guinea Timber Agreement Act 1952. It was introduced to address the need for additional funding to meet the financial liabilities arising under the timber agreement between Australia and New Guinea. The Act was assented to on 10th December, 1953, and was enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia. The primary purpose of this legislation is to appropriate an additional sum of Two hundred and fifty thousand pounds from the Consolidated Revenue Fund to cover the specified liabilities, thereby ensuring the continued operation and obligations of the timber agreement are met. The Act came into operation on the day it received Royal Assent.

Scope and Application

The New Guinea Timber Agreement Act 1953 is an Act of the Commonwealth of Australia, serving as an amendment to the New Guinea Timber Agreement Act 1952. This legislation is focused on the appropriation of funds to meet the Commonwealth's liabilities arising under the Agreement, specifically adding an additional sum of Two hundred and fifty thousand pounds to the Consolidated Revenue Fund. The Act applies to the Commonwealth of Australia and its obligations under the New Guinea Timber Agreement, ensuring that the financial provisions necessary to fulfil these obligations are appropriately allocated and accounted for. Geographically, the Act pertains to the Commonwealth's responsibilities and does not specify a broader jurisdictional reach beyond what is outlined within the Agreement itself. There are no stated exclusions or exemptions within the text of this particular Act, and its scope is limited to the financial appropriation specified. Subordinate instruments may further define the application and implementation of the funds appropriated by this Act, but such details are not provided in the text.

Key Provisions

The New Guinea Timber Agreement Act 1953 (sections 1-3) serves to amend the New Guinea Timber Agreement Act 1952, providing additional funding for the timber agreement. Section 1 establishes the title and citation of the amended Act, while Section 2 specifies that the Act comes into operation upon receiving Royal Assent. Section 3 adds a new sub-section to Section five of the 1952 Act, appropriating an additional £250,000 for the timber agreement. The amended Act imposes specific obligations and requirements on the parties involved in the timber agreement. Section 5, as modified by Section 3, mandates the allocation of the appropriated funds to cover the Commonwealth's liabilities arising from the agreement. This ensures that the necessary financial resources are available to meet contractual obligations and facilitate the operations outlined in the timber agreement. Breaches of the obligations set forth in the Act may result in both civil and criminal consequences. Although the specific provisions of the original 1952 Act regarding offences and penalties are not detailed in this 1953 Act, it is reasonable to infer that the 1952 Act's provisions remain in effect unless explicitly altered. Therefore, any violations of the timber agreement or its financial obligations could potentially lead to legal actions, including fines or other penalties as stipulated in the original Act. It is crucial for parties involved to adhere to the terms and conditions set forth in both Acts to avoid any legal repercussions.