TASMANIA GRANT.
No. 23 of 1929.
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 13th December, 1929.]
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 Art 1929.
Payment of £250,000 per annum for financial assistance to Tasmania.
2. Subject to this Act, there shall be payable, for the purposes of financial assistance to the State of Tasmania, in each financial year
during a period of five years commencing on the first day of July, One thousand nine hundred and twenty-nine, the sum of Two hundred and fifty thousand pounds.
Period and method of payment.
3. The amount payable under this Act in any year shall be paid in equal monthly instalments.
Appropriation.
4. Payments in accordance with this Act shall be made out of the Consolidated Revenue Fund, which is hereby appropriated accordingly.
Overview
The Tasmania Grant Act 1929 was enacted to address a financial shortfall experienced by the State of Tasmania. Passed by the Commonwealth Parliament, this Act aimed to provide substantial financial assistance to Tasmania, allocating a sum of £250,000 annually for five years to support the state's fiscal needs. This legislative measure was a response to the economic difficulties faced by Tasmania at the time, ensuring that the state could maintain essential services and infrastructure. The payments were to be made in equal monthly instalments from the Consolidated Revenue Fund, highlighting the federal government's commitment to supporting the states during economic hardship.
Scope and Application
The Tasmania Grant Act 1929 applies specifically to the allocation of funds from the Commonwealth's Consolidated Revenue Fund to provide financial assistance to the State of Tasmania. This Act, enacted under the authority of the Commonwealth of Australia, authorises the payment of £250,000 per annum over a period of five years starting from July 1, 1929. The payments are to be made in equal monthly instalments, ensuring a steady flow of financial support to the state. The geographic reach of the Act is limited to the state of Tasmania, with no explicit mention of its application to specific entities, industries, or types of conduct or transactions beyond the general financial assistance provision. The Act does not delineate any exclusions, exemptions, or thresholds beyond what is stated within its provisions, and there is no indication of extensions or restrictions applied through subordinate instruments.
Key Provisions
The Tasmania Grant Act 1929 (s 2) primarily requires the payment of £250,000 per annum to the State of Tasmania for financial assistance. This payment is to be made in equal monthly instalments over a period of five years, starting from 1 July 1929 (s 3). The amount to be paid under this Act is sourced from the Consolidated Revenue Fund, which is appropriated for this purpose (s 4). The Act aims to provide the necessary financial assistance to Tasmania for a specified duration.
The obligations imposed by the Act are primarily financial in nature. The Commonwealth is obligated to make the specified payments to Tasmania as outlined in the Act. These payments are to be made in equal monthly instalments, ensuring a consistent flow of funds to the state over the designated period. The Consolidated Revenue Fund is the source of these payments, and the Act explicitly appropriates these funds for this purpose, ensuring that the financial commitment is met.
The Act does not explicitly outline specific offences, penalties, or consequences for breach in the provided text. However, it is implied that the Commonwealth's failure to make the required payments could have significant financial and administrative implications. Such a failure could potentially lead to legal challenges or disputes regarding the fulfilment of the financial commitment stipulated by the Act. While the text does not provide detailed information on penalties or consequences, it is evident that adherence to the payment schedule and appropriation of funds is crucial to the Act's purpose.