Urea Bounty Act 1969

Overview

The Urea Bounty Act 1969, enacted in 1969, serves to amend the Urea Bounty Act 1966. This legislation was introduced to address the need for extending the period for which the urea bounty is payable, thereby ensuring that producers have a clear and potentially extended timeframe to benefit from the bounty scheme. The Act was enacted by the Parliament of Australia with the intent to provide flexibility in setting the duration of the bounty period. The policy objective of this Act is to offer a financial incentive to urea producers during a specified period, thus supporting the agricultural sector by making urea more affordable.

Scope and Application

The Urea Bounty Act 1969 amends the Urea Bounty Act 1966, expanding the scope and application of the legislation. The Act applies to the payment of bounty for urea sold during a specified period, which can be extended by the Governor-General through proclamation, beginning from 1 January 1970 and ending on a date not later than 30 June 1970. The Governor-General has the authority to adjust the terminating date of this period by issuing further proclamations. The Act also introduces a limit on the available bounty, calculated based on the proportion of the specified period to a twelve-month period. This amendment is significant for entities involved in the sale of urea within the declared period, ensuring that bounty payments are proportionate to the duration of the specified period. The jurisdictional reach of this Act is at the Commonwealth level, affecting entities and transactions related to the sale of urea across Australia.

Key Provisions

The Urea Bounty Act 1969 (C1969A00067) amends the Urea Bounty Act 1966, introducing new provisions regarding the period for which bounty is payable and adjusting the limit of available bounty. A key provision is the insertion of section 3a (paragraph 2) which allows the Governor-General to extend the period for bounty payments through proclamation. This period can commence on 1 January 1970 and terminate on a specified date not later than 30 June 1970. Furthermore, the Governor-General has the authority to amend the terminating date by issuing a subsequent proclamation, provided the new date is earlier but not before the date of publication in the Gazette. The original proclamation is deemed amended as of its original effective date. Under the new section 3a, any period declared by proclamation to be applicable under the Act is considered to have been subject to the Act from its commencement. This provision provides flexibility in managing the bounty payment period. Additionally, section 3 of the Act modifies section 7 of the Principal Act by altering the formula for calculating the bounty limit. Specifically, the amendment introduces a new calculation method for urea sold during the period declared under section 3a, adjusting the proportion of the $500,000 limit based on the length of the declared period relative to a standard twelve-month period. The Urea Bounty Act 1969 imposes several obligations on the parties involved. The Governor-General, through the issuance of proclamations, must ensure that the period for bounty payments is clearly defined and can be adjusted if necessary. This includes publishing any amendments in the Gazette to maintain transparency and legal certainty. The Act also requires that calculations for the bounty limit be conducted according to the new formula specified in section 3, ensuring accurate and fair distribution of the bounty. Failure to comply with the provisions of the Urea Bounty Act 1969 can result in civil or criminal consequences, although specific offences and penalties are not detailed in the provided text. Generally, breaches of legislation of this nature may result in fines, imprisonment, or other penalties as prescribed by law. The maximum penalties would depend on the specific nature of the breach and relevant jurisdictional laws, but could include significant financial penalties or imprisonment terms as deemed appropriate by the court.