COTTON BOUNTY.

No. 61 of 1952.

An Act to amend the Cotton Bounty Act 1951.

[Assented to 21st October, 1952.]

BE it enacted by the Queen’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 and citation.

1.—(1.) This Act may be cited as the Cotton Bounty Act 1952.

(2.) The Cotton Bounty Act 1951, as amended by this Act, may be cited as the Cotton Bounty Act 1951–1952.

Commencement.

2. This Act shall come into operation on the first day of January, One thousand nine hundred and fifty-three.

Rate of bounty.

3. Section eight of the Cotton Bounty Act 1951 is amended—

(a) by omitting from sub-section (1.) the word “Where” and inserting in its stead the words “Subject to this section, where”;

(b) by omitting from that sub-section the words “Ninepence half-penny” (wherever occurring) and inserting in their stead the words “One shilling and two pence”; and

(c) by inserting after that sub-section the following sub-sections:—

“(1a.) Notwithstanding anything contained in the last preceding sub-section, where seed cotton in respect of which bounty is payable is delivered to a processor after the year in which it was harvested—

(a) the rate of bounty in respect of that seed cotton is the rate applicable in respect of seed cotton delivered to that processor in the year in which that seed cotton was harvested; and

(b) that seed cotton shall not be taken into account in ascertaining, for the purposes of that subsection, the average price per pound for seed cotton delivered to that processor in the year in which it was so delivered.

“(1b.) The regulations may provide that, in relation to seed cotton delivered to a processor in a year specified in the regulations, being a year subsequent to the year commencing on the first day of January, One thousand nine hundred and fifty-three, sub-section (1.) of this section shall operate as if the references in that sub-section to the amount of One shilling and two pence were references to an amount (not being less than Ninepence half-penny) specified in the regulations.”.