SCIENCE AND INDUSTRY RESEARCH APPROPRIATION.
No. 7 of 1938.
An Act to grant and apply out of the Consolidated Revenue Fund the sum of Two hundred and fifty thousand pounds for the purpose of scientific and industrial Research.
[Assented to 30th June, 1938.]
Preamble.
BE it enacted by the King’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.
1. This Act may be cited as the Science and Industry Research Appropriation Act 1938.
Commencement.
2. This Act shall come into operation on the day on which it receives the Royal Assent.
Science and Industry Capital Trust Account.
3.—(1.) For the purposes of this Act, there shall be a Trust Account which shall be known as the Science and Industry Capital Trust Account.
(2.) The account established in pursuance of this section shall be a Trust Account for the purposes of section sixty-two a of the Audit Act 1901–1934.
Payment to Trust Account.
4. There shall be payable out of the Consolidated Revenue Fund, which is hereby appropriated accordingly, to the credit of the Science and Industry Capital Trust Account, the sum of Two hundred and fifty thousand pounds.
Payments from Trust Account.
5. The moneys standing to the credit of the Science and Industry Capital Trust Account may be applied for the construction and equipment of laboratories and other buildings for the purposes of scientific and industrial investigations and research by the Commonwealth Council for Scientific and Industrial Research constituted under the Science and Industry Research Act 1920–1937.