TASMANIA GRANT.
No. 13 of 1912.
An Act to grant and apply out of the Consolidated Revenue Fund a sum for the purposes of Financial Assistance to the State of Tasmania.
[Assented to 6th November, 1912.]
Preamble.
BE it enacted by the King'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 Tasmania Grant Act 1912.
Appropriation of £500,000 for financial assistance to Tasmania.
2. Subject to this Act, there shall be payable out of the Consolidated Revenue Fund, which is hereby appropriated accordingly, for the purposes of financial assistance to the State of Tasmania, the sum of Five hundred thousand pounds.
Payments to extend over period of ten years.
3.—(1.) Payments of the said sum of Five hundred thousand pounds shall extend over a period of ten years according to the scale in the Schedule so that in each financial year mentioned in the first column of the Schedule there shall be paid the sum set opposite to that financial year in the second column of the Schedule.
(2.) The amount payable in any year shall be paid in equal monthly instalments.
THE SCHEDULE.
Financial Year. | Amount Payable. |
| £ |
1912-13.................................. | 95,000 |
1913-14.................................. | 85,000 |
1914-15.................................. | 75,000 |
1915-16.................................. | 65,000 |
1916-17.................................. | 55,000 |
1917-18.................................. | 45,000 |
1918-19.................................. | 35,000 |
1919-20.................................. | 25,000 |
1920-21.................................. | 15,000 |
1921-22.................................. | 5,000 |
Overview
The Tasmania Grant Act 1912 was enacted by the Parliament of the Commonwealth of Australia to address the financial difficulties faced by the State of Tasmania. This legislation provided a financial assistance package of £500,000 to be disbursed over a period of ten years, beginning in 1912-1913. The grant aimed to alleviate Tasmania's financial burdens, supporting its economic stability and development. The disbursement was structured in decreasing annual instalments, reflecting an intention to gradually reduce the financial support as the state's fiscal situation improved. The Act's policy objective was to ensure that Tasmania could meet its financial obligations and continue its developmental projects without undue hardship.
Scope and Application
The Tasmania Grant Act 1912 is a Commonwealth Act that provides for a financial grant to the State of Tasmania, allocating a sum of Five hundred thousand pounds from the Consolidated Revenue Fund for this purpose. The Act specifies that these payments will be made over a period of ten years, with the amounts varying annually according to a detailed schedule provided in the Act itself. The payments are intended to be made in equal monthly instalments, ensuring a steady flow of financial assistance to Tasmania. This Act applies specifically to the Commonwealth of Australia and the State of Tasmania, with no further extensions or exemptions mentioned within the text.
The Act outlines the appropriation and the schedule of payments meticulously, with no exclusions or exemptions detailed within the text. The jurisdictional reach of this Act is strictly within the Commonwealth of Australia, providing financial assistance to the state of Tasmania. There are no indications of subordinate instruments extending or restricting the application of this Act beyond what is stated within the text itself.
Key Provisions
The Tasmania Grant Act 1912, as indicated in section 1, provides the legal framework for the appropriation of funds from the Consolidated Revenue Fund for the purpose of financial assistance to the State of Tasmania. Section 2 of the Act specifies the appropriation of £500,000, which is to be paid out over a period of ten years to assist Tasmania financially. The payments are to be made according to a schedule detailed in section 3, with payments divided into equal monthly instalments within each financial year.
The Act imposes obligations on the government to make payments as scheduled, ensuring the stipulated amounts are distributed accurately and punctually. Section 3(1) mandates that payments are to extend over a period of ten years, with the amounts specified in the Schedule to be disbursed in equal monthly instalments, as detailed in section 3(2). This systematic approach ensures a consistent flow of funds to Tasmania over the specified period.
There are no explicit offences, penalties, or consequences outlined within the Act for breaches of its provisions. However, the legal and financial obligations imposed by the Act imply that any failure to adhere to the payment schedule or the appropriation of funds as specified could lead to legal repercussions, including potential financial restitution or legal action for non-compliance. The Act’s primary focus is on ensuring the timely and accurate disbursement of the grant to Tasmania, with the underlying assumption that the government will comply with its terms to avoid any adverse outcomes.