Sulphuric Acid Bounty (No. 2)
No. 118 of 1965
An Act to amend the Sulphuric Acid Bounty Act 1954–1960, as amended by the Sulphuric Acid Bounty Act 1965.
[Assented to 18 December, 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 (No. 2) 1965.
(2.) The Sulphuric Acid Bounty Act 1954–1960, as amended by the Sulphuric Acid Bounty Act 1965, is in this Act referred to as the Principal Act.
(3.) Section 1 of the Sulphuric Acid Bounty Act 1965 is amended by omitting sub-section (3.).
(4.) 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 first day of January, One thousand nine hundred and sixty-six.
Definitions.
3. Section 4 of the Principal Act is amended—
(a) by inserting in sub-section (1.), after the definition of “factory”, the following definition:—
“‘financial year’, in relation to a producer, means a year that is a year of income for the purposes of the law relating to income tax in its application to the producer;”;
(b) by omitting from that sub-section the definition of “year to which this Act applies” and inserting in its stead the following definition:—
“‘the bounty period’ means the period from and including the first day of January, One thousand nine hundred and fifty-four, to and including the thirtieth day of June, One thousand nine hundred and sixty-nine;”; and
(c) by omitting sub-sections (4.) and (5.).
Specifications of bounty.
4. Section 6 of the Principal Act is amended by omitting from paragraph (a) the words “in a year to which this Act applies” and inserting in their stead the words “in the bounty period”.
5. Section 10 of the Principal Act is repealed and the following section inserted in its stead:—
“10.—(1.) Where—
Reduction of bounty where profits exceed 12½ per centum per annum.
(a) a financial year or part of a financial year of a producer falls within the bounty period; and
(b) the net profit of the producer in that financial year or part of a financial year derived from the production and sale of sulphuric acid referred to in section six of this Act, after taking into account bounty in respect of that sulphuric acid, would exceed profit at the rate of twelve and one-half per centum per annum on the capital used in that production and sale,
the bounty otherwise payable in respect of that sulphuric acid shall be reduced by the amount of the excess.
“(2.) For the purposes of the last preceding sub-section, where the Minister is satisfied that the net profit derived by the producer during an earlier financial year, or part of a financial year, of the producer that fell within the bounty period from the production and sale of sulphuric acid referred to in section six of this Act, after taking into account bounty in respect of that sulphuric acid,
was less than profit at the rate of twelve and one-half per centum per annum on the capital used by the producer in that production and sale, or that no such profit was derived, he may make such allowance by reason of that fact as he, in his discretion, thinks fit.
“(3.) For the purposes of the last two preceding sub-sections, where a producer of sulphuric acid referred to in section six of this Act uses the sulphuric acid in the production in Australia of any commodity, the sulphuric acid so used shall be deemed to have been sold by the producer at such price as the Minister determines.
“(4.) The Minister may determine the amount that is to be treated as being the amount of any net profit or capital that is required to be taken into account for the purposes of this section.
“(5.) Without prejudice to the generality of the powers of the Minister under the last preceding sub-section, the Minister, in making a determination under that sub-section—
(a) may treat as net profit or capital required to be taken into account for the purposes of this section in respect of a producer the whole or a part of the amount, as determined by the Minister, of any net profit derived, or of any capital used, by another person (whether or not subsidiary to, or affiliated with, the producer) in or from the distribution or sale of the sulphuric acid produced by the producer;
(b) may, where any capital is used by a producer in the production and sale of sulphuric acid for delivery in Australia and also for other purposes, disregard so much of that capital as the Minister thinks proper in the circumstances;
(c) may disregard so much of the purchase price of any materials purchased by a producer, or of any other amount expended by a producer, as, in the opinion of the Minister, exceeds a reasonable price or amount;
(d) may disregard any interest paid or payable by a producer; and
(e) shall disregard any tax upon income paid or payable by a producer.
“(6.) The Minister may, by writing under his hand, certify the determinations or allowances made by him under this section and any such certificate is, in all courts and for all purposes, evidence of the determinations or allowances.”.
Accounts.
6. Section 13 of the Principal Act is amended by omitting from sub-section (2.) the words “year to which this Act applies” and inserting in their stead the words “financial year of the producer during which bounty is payable to him under this Act”.
7. After section 19 of the Principal Act the following section is inserted:—
Advance of bounty.
“19a.—(1.) An advance on account of bounty may be made to a producer if the Minister so directs.
“(2.) If a person receives by way of advances on account of bounty in respect of sulphuric acid an amount greater than the amount of bounty payable in respect of that sulphuric acid, he is liable to repay to the Commonwealth the amount of the excess, and the Commonwealth may recover the amount of the excess as a debt due to the Commonwealth by action in a court of competent jurisdiction.”.
Return for Parliament.
8. Section 22 of the Principal Act is amended by omitting from sub-section (1.) the words “each year to which this Act applies” and inserting in their stead the words “each financial year”.
9. After section 22 of the Principal Act the following section is inserted:—
Delegation.
“22a.—(1.) The Minister or the Comptroller-General may, either generally or in relation to a matter or class of matters and either in relation to the whole of the Commonwealth or to a State or part of the Commonwealth, by writing under his hand delegate all or any of his powers and functions under this Act (except this power of delegation).
“(2.) A power or function so delegated may be exercised or performed by the delegate in accordance with the instrument of delegation.
“(3.) A delegation under this section is revocable at will and does not prevent the exercise of a power or the performance of a function by the Minister or the Comptroller-General, as the case may be.”.
Rate of bounty.
10.—(1.) Notwithstanding the provisions of section 8 of the Principal Act, or of that Act as amended by this Act. the rate of bounty in respect of sulphuric acid produced from pyrites is, and shall be deemed to have been on and from the twenty-sixth day of November, One thousand nine hundred and sixty-five—
(a) where the strength of the sulphuric acid is one hundred per centum—Two pounds ten shillings per ton; and
(b) where the strength of the sulphuric acid is less than one hundred per centum—an amount per ton ascertained by multiplying Two pounds ten shillings by the strength of the sulphuric acid, expressed as a percentage.
(2.) The operation of this section is subject to any regulations made under the Principal Act, as amended by this Act.