RAYON YARN BOUNTY (No. 2).
No. 80 of 1959.
An Act to amend the Rayon Yarn Bounty Act 1954-1956, as amended by the Rayon Yarn Bounty Act 1959.
[Assented to 2nd December, 1959.]
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 Rayon Yarn Bounty Act (No. 2) 1959.
(2.) Section one of the Rayon Yarn Bounty Act 1959 is amended by omitting sub-section (3.).
(3.) The Rayon Yarn Bounty Act 1954–1956, as amended by the Rayon Yarn Bounty Act 1959 and by this Act, may be cited as the Rayon Yarn Bounty Act 1954–1959.
Commencement.
2. This Act shall come into operation on the day on which it receives the Royal Assent.
Interpretation.
3. Section three of the Rayon Yarn Bounty Act 1954–1956, as amended by the Rayon Yarn Bounty Act 1959, is amended—
(a) by omitting from sub-section (1.) the definition of “period to which this Act applies”; and
(b) by omitting sub-section (2.) and inserting in its stead the following sub-section:—
“(2.) For the purposes of this Act, each of the following periods is a period to which this Act applies:—
(a) the year that commenced on the first day of November, One thousand nine hundred and fifty-four;
(b) each of the next four years succeeding the year referred to in the last preceding paragraph;
(c) the period commencing on the first day of November, One thousand nine hundred and fifty-nine, and ending on the thirtieth day of June, One thousand nine hundred and sixty; and
(d) each of the next two years succeeding the period referred to in the last preceding paragraphs”.
Overview
The Rayon Yarn Bounty Act (No. 2) 1959 was enacted to amend the Rayon Yarn Bounty Act 1954-1956, with the objective of extending the period for which the bounty on rayon yarn was payable. This legislation was introduced to address the need to provide continued financial support to the rayon yarn industry, ensuring its stability and growth within Australia. Enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, the Act aims to align the periods for which the bounty applies with the operational needs of the industry, thereby supporting its continued development and economic contribution.
The Act serves to refine the scope of the original bounty provisions by modifying the definitions and periods for which the bounty is applicable. This adjustment ensures that the financial assistance is appropriately targeted to support the industry during critical growth phases, as outlined in the amended periods specified within the Act. The legislative amendment reflects a commitment to maintaining the viability of the rayon yarn sector by providing the necessary fiscal incentives.
Scope and Application
The Rayon Yarn Bounty Act 1954-1959, as amended by the Rayon Yarn Bounty Act 1959 and subsequently by the Rayon Yarn Bounty Act (No. 2) 1959, applies to specific periods within the span of 1 November 1954 to 30 June 1962, encompassing six years in total. This Act pertains to the regulation and administration of a bounty related to rayon yarn within the Commonwealth of Australia. The legislation primarily affects entities engaged in the production and trade of rayon yarn, ensuring compliance with the bounty terms and conditions as specified within the Act. The Act's jurisdiction is confined to the Commonwealth, applying uniformly across Australia. The Act does not explicitly state exclusions or exemptions; however, it is subject to amendment and interpretation by subordinate instruments, which may introduce specific exclusions or modifications to its application.
Key Provisions
The main operative sections of the Rayon Yarn Bounty Act (No. 2) 1959 concern the amendment of the Rayon Yarn Bounty Act 1954-1956 and the specification of the periods to which the Act applies. Section 1 amends the citation of the Act, while Section 2 provides that the Act comes into operation on the day it receives Royal Assent. Section 3 modifies the interpretation of certain terms by removing the previous definition of “period to which this Act applies” and replacing it with a new definition that specifies the exact years and periods covered by the Act.
The Act imposes obligations on the parties involved, particularly in relation to the bounty provided for rayon yarn. By amending the original Act, it clarifies the scope and duration of the bounty, ensuring that the provisions apply to the specified periods. The modified interpretation section helps to delineate the exact time frames during which the bounty is applicable, ensuring clarity and consistency in the administration of the bounty.
There are no explicit offences, penalties, or civil/criminal consequences detailed in the text provided for breach of the provisions within this Act. The Act primarily focuses on the administrative aspects of the rayon yarn bounty, such as its definition, application, and the specific periods it covers. As such, it does not outline punitive measures for non-compliance, but rather ensures that the bounty is applied correctly and transparently during the specified periods.