Sulphuric Acid Bounty Act 1965

Legislation au C1965A00036 Not in force Act

Legislation content

Sulphuric Acid Bounty

No. 36 of 1965

An Act to amend the Sulphuric Acid Bounty Act 1954-1960.

[Assented to 2 June, 1965]

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 Sulphuric Acid Bounty Act 1965.

(2.) The Sulphuric Acid Bounty Act 1954-1960 is in this Act referred to as the Principal Act.


(3.) The Principal Act, as amended by this Act, may be cited as the Sulphuric Acid Bounty Act 1954-1965.

Commencement.

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Interpretation.

3. Section 4 of the Principal Act is amended—

(a) by adding at the end of the definition of “year to which this Act applies” in sub-section (1.) the words “,and includes the period of six months commencing on the first day of July, One thousand nine hundred and sixty-five”; and

(b) by adding at the end thereof the following sub-sections:—

“(4.) The Governor-General, may, by Proclamation, specify a date, being a date before the thirty-first day of December, One thousand nine hundred and sixty-five, but not before the date on which the Proclamation is published in the Gazette, as the date on which bounty shall cease to be payable.

“(5.) Where a Proclamation has been made under the last preceding sub-section, then, for the purposes of this Act, the period commencing on the first day of July, One thousand nine hundred and sixty-five, and ending on the date specified in the Proclamation shall be deemed to be, and at all times from the first day of July, One thousand nine hundred and sixty-five, to have been, substituted for the period of six months commencing on the last-mentioned date referred to in the definition of ‘year to which this Act applies’ in sub-section (1.) of this section.”.

Reduction of bounty where profits exceed 12½ per centum per annum.

4. Section 10 of the Principal Act is amended by inserting after sub-section (1.) the following sub-section:—

“(1a.) In relation to profit derived during the period of six months commencing on the first day of July, One thousand nine hundred and sixty-five, the last preceding sub-section shall be read—

(a) as though for the words ‘one-eighth of the capital’ in that sub-section there were substituted the words ‘profit at the rate of twelve and one-half per centum per annum on the capital’;

(b) as though for the words ‘one-eighth of that capital’ in paragraph (a) of that sub-section there were substituted the words ‘profit at the rate of twelve and one-half per centum per annum on that capital’; and

(c) as though for the words ‘one-eighth of that capital’ in paragraph (b) of that sub-section there were substituted the words ‘profit at the rate of twelve and one-half per centum per annum on that capital’.”.


Application of regulations.

5. The regulations made under sub-section (2.) of section 8 of the Principal Act that were in force immediately before the commencement of this Act apply in relation to bounty that becomes payable during the period of six months commencing on the first day of July, One thousand nine hundred and sixty-five, or, if a Proclamation is made under sub-section (4.) of section 4 of the Principal Act as amended by this Act, during the period commencing on the last-mentioned date and ending on the date specified by the Proclamation, as the case may be, but may be amended, in so far as they so apply, by regulations made under section 23 of the Principal Act as amended by this Act.

 

Overview

The Sulphuric Acid Bounty Act 1965 was enacted to amend the Sulphuric Acid Bounty Act 1954-1960, extending the period for which bounty payments are applicable and introducing adjustments to the bounty calculation based on profit thresholds. This Act was passed by the Parliament of Australia and received Royal Assent on 2 June 1965, addressing the need to update the existing legislative framework to accommodate new economic conditions and regulatory requirements. The policy objective of the Act is to provide a more flexible and responsive approach to the administration of bounties for sulphuric acid production, ensuring that the scheme remains effective and fair in light of changing market conditions and operational realities within the industry.

Scope and Application

The Sulphuric Acid Bounty Act 1954-1965, as amended by the Sulphuric Acid Bounty Act 1965, applies to entities involved in the production and sale of sulphuric acid within Australia, specifically targeting those eligible for the bounty scheme. This Act extends to cover the six-month period starting from the first of July, 1965, and includes provisions for the Governor-General to specify a termination date for the bounty through a proclamation. The Act’s jurisdiction is national, as it is a Commonwealth Act, and its amendments apply to all states and territories within Australia. The bounty is subject to reduction if the profits of the entities exceed a specified rate, thereby linking the financial health of the industry with the bounty provisions. Subordinate regulations, initially in place under the Principal Act, continue to apply but can be amended to suit the specific provisions of this Act.

Key Provisions

The Sulphuric Acid Bounty Act 1965 (Act) amends the Sulphuric Acid Bounty Act 1954-1960 (Principal Act) to adjust the bounty system for sulphuric acid production. The primary amendments include altering the period for which the bounty applies and adjusting the rate of bounty based on the profit percentage derived by the manufacturers (Sections 1-5). Specifically, the bounty period is extended to cover six months from 1 July 1965, and the bounty rate is set at twelve and a half per centum per annum on the capital for this period (Section 4). Under the Act, certain obligations are placed on the manufacturers and the governing authorities. Manufacturers must ensure compliance with the specified profit rate to qualify for the bounty, and the Governor-General has the authority to specify a date by proclamation, before 31 December 1965, when the bounty will cease to be payable (Section 4). The regulations previously in force under the Principal Act continue to apply to the bounty for the period starting from 1 July 1965 but can be amended as necessary (Section 5). The Act does not explicitly state any offences, penalties, or consequences for breach of its provisions. However, given the regulatory nature of the Act, failure to comply with the bounty rate conditions or other specified requirements could potentially lead to legal consequences under other related legislation or administrative actions by the relevant authorities. It is essential for manufacturers to adhere to the conditions set forth to avoid any adverse implications.

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.