Pyrites Bounty (No. 3)
No. 151 of 1965
An Act to amend the Pyrites Bounty Act 1960, as amended by the Pyrites Bounty Act 1965 and by the Pyrites Bounty Act (No. 2) 1965, in relation to Decimal Currency.
[Assented to 18 December, 1965]
BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—
Short title and citation.
1.—(1.) This Act may be cited as the Pyrites Bounty Act (No. 3) 1965.
(2.) The Pyrites Bounty Act 1960, as amended by the Pyrites Bounty Act 1965 and by the Pyrites Bounty Act (No. 2) 1965, is in this Act referred to as the Principal Act.
(3.) Section 1 of the Pyrites Bounty Act (No. 2) 1965 is amended by omitting sub-section (4.).
(4.) The Principal Act, as amended by this Act, may be cited as the Pyrites Bounty Act 1960–1965.
Commencement.
2. This Act shall come into operation on the fourteenth day of February, One thousand nine hundred and sixty-six.
Interpretation.
3. Section 3 of the Principal Act is amended by omitting the definition of “‘the landed cost per ton’” in sub-section (1.) and inserting in its stead the following definition:—
“‘the landed cost per ton’, in relation to crude brimstone imported into Australia in a quarter, means the amount ascertained by dividing the total cost of all crude brimstone imported into Australia in that quarter by the number of tons of crude brimstone so imported and, if the result so ascertained is not a multiple of Ten cents, increasing or decreasing the amount to the nearest multiple of Ten cents except where the result is a multiple of Five cents, in which case the amount shall be increased by Five cents;”.
Rate of bounty.
4. Section 7 of the Principal Act is amended—
(a) by omitting from sub-section (2.) the words “Sixteen pounds” and “Three pounds” and inserting in their stead the words “Thirty-two dollars” and “Six dollars”, respectively; and
(b) by omitting sub-section (3.) and inserting in its stead the following sub-section:—
“(3.) When the landed cost per ton of crude brimstone imported into Australia in a quarter is more or less than Thirty-two dollars, the rate of bounty that becomes payable in respect of any pyrites during that quarter is an amount per ton of the sulphur content of the pyrites ascertained—
(a) where that landed cost is more than Thirty-two dollars—by subtracting from the amount of Six dollars the amount by which that landed cost is more than Thirty-two dollars; or
(b) where that landed cost is less than Thirty-two dollars—by adding to an amount of Six dollars the amount by which that landed cost is less than Thirty-two dollars.”.
Stocktaking and inspection of production and accounts.
5. Section 13 of the Principal Act is amended by omitting the words “Fifty pounds” and inserting in their stead the words “One hundred dollars”.
Penalty for refusing to answer questions. &c.
6. Section 16 of the Principal Act is amended by omitting the words “Fifty pounds” and inserting in their stead the words “One hundred dollars”.
Offences.
7. Section 20 of the Principal Act is amended by omitting from sub-section (1.) the words “Five hundred pounds” and inserting in their stead the words “One thousand dollars”.
Regulations.
8. Section 22 of the Principal Act is amended by omitting from paragraph (c) the words “Fifty pounds” and inserting in their stead the words “One hundred dollars”.
Application of amendments.
9. The amendments made by sections 3 and 4 of this Act apply in relation to all payments of bounty on or after the date of commencement of this Act, and, for the purposes of calculating the amount of any such payment, the reference to “Australian currency” in the definition of “total cost” in section 3 of the Principal Act, as amended by this Act, shall be read as a reference to the currency provided for by the Currency Act 1965.