Supply Act (No. 1) 1968-69

Overview

The Supply (No. 1) Act 1968-69 was enacted to address the need for interim financial provisions for the appropriation of moneys out of the Consolidated Revenue Fund for the financial year ending on the thirtieth day of June, 1969. This Act was passed by the Parliament of Australia and received Royal Assent on 22 May 1968. The primary objective of the Act was to authorise the Treasurer to issue and apply a total sum of $1,119,110,000 for the specified services outlined in the Schedule. The appropriation covers various government departments and services, including defence services, as well as business undertakings, ensuring that the necessary funds are available to meet the operational requirements for that financial year.

Scope and Application

The Supply Act (No. 1) 1968-69 is an Australian Commonwealth Act that makes interim provision for the appropriation of funds from the Consolidated Revenue Fund for the financial year ending 30 June 1969. The Act authorises the Treasurer to issue and apply the sum of $1,119,110,000 for specified services and departments as outlined in the Act's Schedule. The appropriation covers both government departments and business undertakings. The geographic and jurisdictional reach of this Act is confined to the Commonwealth level, applying across various federal departments and services as detailed within the Act. The Act does not explicitly state any exclusions, exemptions, or thresholds, and its provisions are directly applicable as written without the need for subordinate instruments to extend or restrict its application.

Key Provisions

Section 3(1) of the Supply (No. 1) 1968-69 Act permits the Treasurer to issue and apply a specified sum from the Consolidated Revenue Fund for designated services and departments for the financial year ending on 30 June 1969. The total amount authorised for appropriation is One thousand one hundred and nineteen million one hundred and ten thousand dollars, which is divided between various departments and services as listed in the Schedule to the Act. The Consolidated Revenue Fund is appropriated to the extent necessary to cover these allocations, as stated in section 3(2). The Act imposes several obligations on the Treasurer and relevant departments. The primary obligation is for the Treasurer to ensure that the funds are issued and applied strictly in accordance with the specified services and amounts detailed in the Schedule. Each department and service must adhere to the allocated budget outlined in the Act and use the funds for the purposes for which they are appropriated. The Act does not provide detailed mechanisms for monitoring compliance, but it implies that these departments must maintain records and accounts of their expenditure to ensure that they stay within their allocated budgets. In terms of potential consequences for breaches, the Act does not explicitly outline offences, penalties, or civil/criminal consequences for non-compliance. However, misapplication or unauthorised use of funds could potentially lead to financial discrepancies, which might be subject to internal audits, reviews, and possibly corrective actions by the relevant authorities. There are no specific maximum penalties mentioned within the text of the Act itself. Any legal consequences would likely be determined by other relevant financial and administrative regulations and laws.