RAW COTTON BOUNTY.
No. 9 of 1941.
An Act to amend the Raw Cotton Bounty Act 1940.
[Assented to 7th April, 1941.]
[Date of commencement, 5th May, 1941.]
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.—(1.) This Act may be cited as the Raw Cotton Bounty Act 1941.
(2.) The Raw Cotton Bounty Act 1940*, as amended by this Act, may be cited as the Raw Cotton Bounty Act 1940–1941.
Limit of annual bounty.
2. Section six of the Raw Cotton Bounty Act 1940 is amended by omitting from sub-section (1.) the word “fifty” and inserting in its stead the word “seventy”.
Rates of bounty.
3. Section nine of the Raw Cotton Bounty Act 1940 is amended by adding at the end thereof the following sub-sections:—
“(9.) Notwithstanding anything contained in this section, if the Minister is of opinion that, after taking into account bounty payable at the rates provided by this section, the average net return to any producer during the year ending on the thirty-first day of December, One thousand nine hundred and forty-one, or the year ending on the thirty-first day of December, One thousand nine hundred and forty-two, from all raw cotton of grades higher than the grade known as Strict Good Ordinary, and from all by-products of such raw cotton, is or will be less than twelve pence half-penny per pound of raw cotton, such additional amount of bounty shall be payable to that producer as is necessary to increase that average net return to twelve pence half-penny per pound of raw cotton.
“(10.) The additional amount of bounty payable to any producer under sub-section (9.) of this section in respect of either of the years mentioned in that sub-section may, if the Minister thinks fit, be paid in the form of not more than two interim payments at any time after that producer has ceased production of raw cotton for that year, and a final payment when the Minister is able to determine exactly the average net return to the producer for that year.”.
Overview
The Raw Cotton Bounty Act 1941 was enacted to amend the Raw Cotton Bounty Act 1940, addressing a specific economic need in the cotton industry during wartime. Passed by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, this Act increased the limit of the annual bounty for raw cotton from fifty to seventy. Additionally, it introduced provisions for additional bounty payments to ensure that cotton producers received a minimum average net return of twelve pence half-penny per pound of raw cotton for the years 1941 and 1942. This policy aimed to support the financial stability of cotton producers during a period of economic strain and to ensure the continuity of raw cotton production vital for the war effort.
Scope and Application
The Raw Cotton Bounty Act 1941 applies to producers of raw cotton within the Commonwealth of Australia, specifically those involved in the production and sale of raw cotton and its by-products. The Act amends the Raw Cotton Bounty Act 1940, adjusting the limit of annual bounty and introducing new rates of bounty for specific conditions. It targets the cotton industry, focusing on financial support mechanisms to ensure that producers receive a minimum net return for their raw cotton and its by-products. The Act is geographically confined to the Commonwealth of Australia and extends its application by potentially modifying the bounty rates based on the Minister's assessment of the producers' average net returns. The Act allows for additional bounty payments if the Minister determines that the average net return falls below a specified threshold, providing financial support to producers during specific years. The Act may also be extended or restricted through subordinate instruments, although specific details on such instruments are not provided within the text.
Key Provisions
The Raw Cotton Bounty Act 1941 primarily amends the Raw Cotton Bounty Act 1940 by increasing the annual bounty limit and introducing new provisions for additional bounty payments (sections 2 and 3). Specifically, section 2 raises the annual bounty limit from fifty to seventy. Section 3 introduces new sub-sections that provide for an additional bounty if the Minister determines that the average net return to a producer from higher-grade raw cotton and its by-products falls below twelve and a half pence per pound for the specified years. This additional bounty can be paid in up to two interim payments and a final payment once the average net return is calculated.
Under the Act, cotton producers must comply with the stipulated bounty rates and may be eligible for additional payments if their net returns fall below the specified threshold. The Minister’s discretion to adjust bounty payments based on the average net return of producers is crucial, ensuring that producers receive adequate compensation. Producers must also provide the necessary information to allow the Minister to accurately determine their average net returns.
The Act does not explicitly outline specific offences or penalties for non-compliance with its provisions. However, breaches of related legislative requirements or misuse of bounty payments could potentially lead to civil or criminal liabilities under other applicable laws. The absence of explicit penalties in this Act suggests that reliance may be placed on general legal principles and other relevant legislation to address non-compliance and misconduct.