SULPHURIC ACID BOUNTY.

No. 30 of 1960.

An Act to amend the Sulphuric Acid Bounty Act 1954-1959.

[Assented to 26th May, 1960.]

[Date of commencement, 23rd June, 1960.]

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 Sulphuric Acid Bounty Act 1960.

(2.) The Sulphuric Acid Bounty Act 1954-1959 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the Sulphuric Acid Bounty Act 1954-1960.

Definitions.

2. Section four of the Principal Act is amended by adding at the end of the definition of “year to which this Act applies” the words “, and includes the period commencing on the first day of July, One thousand nine hundred and sixty, and ending on the thirty-first day of December of that year”.

3. Section ten of the Principal Act is amended—

Reduction of bounty where profits exceed 12½ per centum per annum.

(a) by inserting after sub-section (1.) the following sub-section:—

“(1a.) In relation to profit derived during the period commencing on the first day of July, One thousand nine hundred and sixty, and ending on the thirty-first day of December of that year, a reference in the last preceding sub-section to one-eighth shall be read as a reference to one-sixteenth.”; and

(b) by omitting from sub-section (2.) the words “the last preceding sub-section” and inserting in their stead the words “sub-section (1.) of this section”.