RAYON YAM BOUNTY.
No. 44 of 1959.
An Act to amend the Rayon Yarn Bounty Act 1954–1956.
[Assented to 22nd May, 1959.]
[Date of commencement, 19th June, 1959.]
BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, for the purpose of appropriating the grant originated in the House of Representatives, as follows:—
Short title and citation.
1.—(1.) This Act may be cited as the Rayon Yarn Bounty Act 1959.
(2.) The Rayon Yarn Bounty Act 1954–1956 is in this Act referred to as the Principal Act.
(3.) The Principal Act, as amended by this Act, may be cited as the Rayon Yarn Bounty Act 1954–1959.
Definitions.
2. Section three of the Principal Act is amended—
(a) by inserting after the definition of “factory” the following definition:—
“‘period to which this Act applies’ means—
(a) the year that commenced on the first day of November, One thousand nine hundred and fifty-four;
(b) any of the next three years succeeding that year; or
(c) the period commencing on the first day of November, One thousand nine hundred and fifty-eight, and ending on a date fixed by Proclamation, being a date during the period commencing on the first day of July, One thousand nine hundred and fifty-nine, and ending on the thirty-first day of December, One thousand nine hundred and fifty-nine, but not earlier than the date on which the Proclamation is published in the Gazette;”;
(b) by omitting the definition of “year to which this Act applies”; and
(c) by adding at the end thereof the following sub-section:—
“(2.) A Proclamation made for the purposes of the definition of ‘ period to which this Act applies’ in the last preceding sub-section may be revoked and a fresh Proclamation made fixing a date earlier than the date fixed by the revoked Proclamation, but not earlier than the date on which the fresh Proclamation is published in the Gazette.”.
Specification of bounty.
3. Section five of the Principal Act is amended by omitting the word “year” and inserting in its stead the word “period”.
Limit of annual bounty.
4. Section eight of the Principal Act is amended—
(a) by omitting from sub-section (1.) the words “each year” and inserting in their stead the words “a period”;
(b) by omitting from sub-section (2.) the word “ year “ and inserting in its stead the word “period”; and
(c) by omitting from sub-section (3.) the word “year” and inserting in its stead the word “period”.
Reduction of bounty where profits exceed ten per centum per annum.
5. Section nine of the Principal Act is amended by omitting the word “year” (wherever occurring) and inserting in its stead the word “period”.
Accounts.
6. Section twelve of the Principal Act is amended by omitting from sub-section (2.) the word “year” and inserting in its stead the word “period”.
Return for Parliament.
7. Section twenty-one of the Principal Act is amended by omitting from sub-section (1.) the word “year” (wherever occurring) and inserting in its stead the word “period”.