STATES GRANTS (ADDITIONAL ASSISTANCE) (No. 2).
No. 58 of 1962.
An Act to grant and apply out of the Consolidated Revenue Fund sums for the purpose of Additional Financial Assistance to the States.
[Assented to 23rd August, 1962.]
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.
1. This Act may be cited as the States Grants (Additional Assistance) Act (No. 2) 1962.
Commencement.
2. This Act shall come into operation on the day on which it receives the Royal Assent.
Financial assistance to States.
3.—(1.) There is payable to each State, during the year that commenced on the first day of July, One thousand nine hundred and sixty-two, for the purpose of financial assistance, the amount specified in the Schedule to this Act opposite to the name of the State.
(2.) The amount payable to a State under this Act is payable by instalments, the times and amounts of which shall be as determined by the Treasurer.
Appropriation.
4. Payments in accordance with this Act shall be made out of the Consolidated Revenue Fund, which is appropriated accordingly.
THE SCHEDULE. Section 3.
——
| £ |
New South Wales.................................... | 3,044,000 |
Victoria.......................................... | 2,442,000 |
Queensland........................................ | 3,640,000 |
South Australia..................................... | 1,312,000 |
Western Australia.................................... | 894,000 |
Tasmania......................................... | 1,168,000 |
| 12,500,000 |
Overview
The States Grants (Additional Assistance) Act (No. 2) 1962 was enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia to provide additional financial assistance to the states for the year commencing on 1 July 1962. This Act addresses the need for supplementary funding to support state-level financial requirements, which was identified as necessary to aid economic stability and development across various states. The policy objective is to provide financial relief and support to the states by appropriating sums out of the Consolidated Revenue Fund, as specified in the Act. The Act ensures that payments are made in instalments as determined by the Treasurer, facilitating a structured and manageable distribution of funds to each state.
The Act was enacted to specifically grant and apply sums from the Consolidated Revenue Fund for additional financial assistance to the states, with the amounts payable to each state outlined in the attached schedule. By appropriating funds in this manner, the Act aims to address the financial needs of the states, thereby contributing to the overall economic stability and development of the nation.
Scope and Application
The States Grants (Additional Assistance) Act (No. 2) 1962 is a Commonwealth legislative instrument designed to provide financial assistance to the various states of Australia for the fiscal year beginning 1 July 1962. This Act applies to the governments of each Australian state, namely New South Wales, Victoria, Queensland, South Australia, Western Australia, and Tasmania. The financial assistance is to be applied towards general state expenditures and is granted in the form of sums specified in the schedule attached to the Act, with payments made from the Consolidated Revenue Fund. The Act mandates that payments are to be issued in instalments, with the specific amounts and timing determined by the Treasurer. The legislation extends its reach to each of the specified states, offering a financial aid package to support their respective budgets and expenditures for the designated year. There are no exclusions or exemptions explicitly stated within the Act, and it does not extend its application beyond the specified states or financial year.
Key Provisions
The main operative sections of the States Grants (Additional Assistance) Act (No. 2) 1962 (sections 3 and 4) establish the framework for providing additional financial assistance to the states. Specifically, Section 3(1) states that each state is to receive a specified amount of money for financial assistance during the fiscal year commencing 1 July 1962, with the exact amounts listed in the Schedule. Section 3(2) clarifies that these payments will be made in instalments, with the timing and amount of each instalment determined by the Treasurer. Section 4 confirms that these payments will be made from the Consolidated Revenue Fund, thereby appropriating funds accordingly.
The Act imposes several obligations on the parties involved. Primarily, the Commonwealth government, through the Treasurer, is required to disburse the financial assistance in accordance with the Act. This includes making payments to each state in the amounts and on the schedules specified in the Schedule (section 3). Additionally, the Treasurer must determine the specific times and amounts of each instalment (section 3(2)). The Consolidated Revenue Fund serves as the source from which these payments are made, with this fund being appropriated for this purpose (section 4).
In terms of consequences for non-compliance, the Act does not explicitly outline specific offences, penalties, or civil/criminal consequences for breach within its text. However, failure to comply with the requirements of the Act, such as not making the specified payments or misappropriating funds, could potentially lead to legal actions or scrutiny under broader financial and appropriation laws in Australia. The exact penalties or consequences would likely depend on the specific nature of the breach and the applicable legal frameworks governing financial administration and appropriations in the Commonwealth of Australia.