NEW SOUTH WALES GRANT (CHRYSOTILE CORPORATION) ACT 1978
No. 190 of 1978
An Act to grant financial assistance to New South Wales in relation to Chrysotile Corporation.
BE IT ENACTED by the Queen, and the Senate and House of Representatives of the Commonwealth of Australia, as follows:
Short title
1. This Act may be cited as the New South Wales Grant (Chrysotile Corporation) Act 1978.
Commencement
2. This Act shall come into operation on the day on which it receives the Royal Assent.
Approval of execution of agreements
3. Approval is given to the execution, on behalf of the Commonwealth, whether before or after the commencement of this Act, of an agreement or agreements between the Commonwealth and New South Wales for the payment by the Commonwealth to New South Wales, for the purpose of assisting the continuation of the operation of Chrysotile Corporation of Australia Pty. Limited’s mine at Barraba in New South Wales from 1 October 1978 to 31 December 1979, inclusive, of amounts not exceeding, in the aggregate, $1,400,000.
Payments and advances under agreements
4. (1) Any payments (including advances) by the Commonwealth to New South Wales that are provided for in any agreement referred to in section 3 may be made to New South Wales, by way of financial assistance, on the terms and conditions contained in the agreement.
(2) The payments (including advances) referred to in sub-section (1) may be made out of the Consolidated Revenue Fund, which is appropriated accordingly.
Overview
The New South Wales Grant (Chrysotile Corporation) Act 1978 was enacted to provide financial assistance to New South Wales to support the Chrysotile Corporation, specifically the operation of its mine at Barraba. This Act was introduced to address the economic challenges faced by the corporation, which was pivotal to the regional economy of Barraba, and to prevent potential job losses and economic downturn in the area. Enacted by the Parliament of Australia, the policy objective of this Act was to ensure the continuity of the Chrysotile Corporation's operations through the provision of financial support from the Commonwealth. The Act authorises the execution of agreements between the Commonwealth and New South Wales, allowing payments not exceeding $1,400,000 to be made to support the Corporation from 1 October 1978 to 31 December 1979.
Scope and Application
The New South Wales Grant (Chrysotile Corporation) Act 1978 applies specifically to the granting of financial assistance by the Commonwealth of Australia to the state of New South Wales for the operation of Chrysotile Corporation of Australia Pty. Limited’s mine at Barraba, New South Wales, for the period from 1 October 1978 to 31 December 1979. This Act authorises the execution of an agreement between the Commonwealth and New South Wales, allowing the Commonwealth to provide financial assistance not exceeding $1,400,000 in total, with payments made to New South Wales out of the Consolidated Revenue Fund. The Act is limited to the specified financial assistance for the mine's operation during the defined timeframe and does not extend to any other entities, industries, or activities outside this scope. The geographic reach of the Act is confined to the Commonwealth and New South Wales, with no mention of broader jurisdictional implications or extensions through subordinate instruments. The Act does not detail any exclusions, exemptions, or thresholds beyond the financial assistance specified for the mine at Barraba.
Key Provisions
The New South Wales Grant (Chrysotile Corporation) Act 1978 (sections 1-4) provides the framework for financial assistance to be granted by the Commonwealth to New South Wales. This assistance is intended to support the continuation of Chrysotile Corporation of Australia Pty. Limited’s operations at their mine in Barraba, New South Wales, from 1 October 1978 to 31 December 1979. Specifically, Section 3 grants approval for the execution of agreements between the Commonwealth and New South Wales, while Section 4 details the terms under which payments can be made, including the source of funds being the Consolidated Revenue Fund.
The Act imposes several obligations and requirements on the parties involved. The primary requirement is the formal execution of an agreement between the Commonwealth and New South Wales, as approved under Section 3. This agreement must outline the terms and conditions for the financial assistance. Additionally, Section 4 mandates that any payments made under these agreements must be within the specified terms and sourced from the Consolidated Revenue Fund.
In terms of legal consequences, the Act does not explicitly outline offences, penalties, or civil/criminal consequences for breaches within its text. However, the non-compliance with the terms and conditions of the agreement or any misuse of the funds could potentially lead to legal ramifications under other applicable laws. The Act’s primary focus is on the facilitation of financial support within the specified parameters and does not delve into punitive measures for breaches of the Act itself.