South Australia Grant (Fruit Canneries)
No. 127 of 1971
An Act to make provision for the grant of Financial Assistance to the State of South Australia to enable that State to make Loans to Jon Preserving Co-operative Limited and Riverland Fruit Products Co-operative Limited.
[Assented to 16 December 1971]
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.
1. This Act may be cited as the South Australia Grant (Fruit Canneries) Act 1971.
Commencement.
2. This Act shall be deemed to have come into operation on the tenth day of May, One thousand nine hundred and seventy-one.
Definition.
3. In this Act, “the State” means the State of South Australia.
Grant of financial assistance.
4.—(1.) Subject to this Act, there is payable to the State, by way of financial assistance, an amount equal to each amount expended by the State in making an advance to Jon Preserving Co-operative Limited or Riverland Fruit Products Co-operative Limited to enable that company to reduce its financial indebtedness.
(2.) The total of the amounts payable to the State under this Act in respect of a company referred to in the last preceding sub-section shall not exceed—
(a) in the case of Jon Preserving Co-operative Limited—Three hundred and ninety thousand dollars; and
(b) in the case of Riverland Fruit Products Co-operative Limited—Nine hundred thousand dollars.
Conditions.
5.—(1.) Payment of an amount payable to the State under this Act is subject to such conditions, if any, as the Minister, by instrument in writing, determines.
(2.) The conditions that may be determined by the Minister under the last preceding sub-section may include a condition as to repayment of the whole or part of the amount.
Appropriation.
6. The amounts payable to the State under this Act are payable out of the Consolidated Revenue Fund, which is appropriated accordingly.
Overview
The South Australia Grant (Fruit Canneries) Act 1971 was enacted by the Parliament of Australia to address the financial difficulties faced by two fruit canning co-operatives in South Australia: Jon Preserving Co-operative Limited and Riverland Fruit Products Co-operative Limited. The policy objective of this Act was to provide financial assistance to the State of South Australia, enabling it to offer loans to these struggling companies. This assistance aimed to alleviate the financial burden of these co-operatives, thereby supporting the local fruit canning industry and safeguarding jobs within the region. The Act ensures that the financial aid provided is subject to specific conditions that the Minister may impose, including terms for the repayment of the granted amounts.
Scope and Application
The South Australia Grant (Fruit Canneries) Act 1971 applies specifically to the financial assistance granted to the State of South Australia to facilitate loans made to two entities, Jon Preserving Co-operative Limited and Riverland Fruit Products Co-operative Limited. These entities are the primary subjects of the Act, aimed at reducing their financial indebtedness. The Act's provisions are applicable within the jurisdiction of the Commonwealth of Australia, and it extends its financial support mechanisms to aid these particular co-operatives. The Act does not explicitly detail exclusions or exemptions but does specify maximum thresholds for the financial assistance payable to each of the co-operatives, capping the total assistance for Jon Preserving Co-operative Limited at three hundred and ninety thousand dollars and for Riverland Fruit Products Co-operative Limited at nine hundred thousand dollars. Additionally, the Minister has the authority to impose conditions on the payment of this financial assistance, including the terms for repayment, through written instruments.
Key Provisions
The South Australia Grant (Fruit Canneries) Act 1971 provides for the financial assistance to the State of South Australia to facilitate loans to Jon Preserving Co-operative Limited and Riverland Fruit Products Co-operative Limited. The Act specifies that financial assistance will be provided to the State to the extent of the amounts it expends in making loans to these two companies to reduce their financial indebtedness (section 4(1)). The maximum amounts payable to the State are capped at USD 390,000 for Jon Preserving Co-operative Limited and USD 900,000 for Riverland Fruit Products Co-operative Limited (section 4(2)). The Act also outlines that any payment under the Act is subject to conditions that may be determined by the Minister in writing, which may include conditions regarding the repayment of the amounts (section 5).
The Act imposes several obligations on the parties involved. The Minister is tasked with determining the conditions, if any, under which the financial assistance will be paid to the State (section 5(1)). The Minister may include conditions for the repayment of the whole or part of the amounts (section 5(2)). The State, upon receiving the financial assistance, is expected to use it strictly for the purpose of making loans to the specified companies to alleviate their financial burden (section 4).
The Act does not explicitly outline specific offences, penalties, or consequences for breach. However, the provisions imply that non-compliance with the conditions set by the Minister for the financial assistance could potentially lead to the withholding of payment or other administrative actions as deemed appropriate by the Minister. The Act ensures the amounts payable to the State are appropriated out of the Consolidated Revenue Fund (section 6), indicating a formal process for financial oversight and accountability.