PETROLEUM OIL SEARCH.
No. 22 of 1940.
An Act to amend the Petroleum Oil Search Acts 1936.
[Assented to 31st May, 1940.]
[Date of Commencement, 28th June, 1940.]
BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—
Short title and citation
1.—(l.) This Act may be cited as the Petroleum Oil Search Act 1940.
(2.) The Petroleum Oil Search Acts 1936 is in this Act referred to as the Principal Act.
(3.) The Principal Act, as amended by this Act, may be cited as the Petroleum Oil Search Act 1936-1940.
Petroleum Oil Search Trust Account.
2.—(1.) Section five of the Principal Act is amended—
(a) by omitting paragraph (b) of sub-section (3.) and inserting in its stead the following paragraph:—
“(b) in the purchase of drilling plant for use in connexion with such search;”; and
(b) by adding at the end of that sub-section the following paragraphs:—
“(d) towards the cost of any geological survey or scout drilling operations conducted by the Commonwealth in conjunction with a State in connexion with such search; and
(e) for the purpose of advances to persons engaged in the initial stages of the production of petroleum.”.
(2.) The amendments effected by sub-section (1.) of this section shall be deemed to have come into operation on the day on which the Petroleum Oil Search Act (No. 2) 1936 came into operation.