COPPER BOUNTY.

No. 31 of 1960.

An Act to amend the Copper Bounty Act 1958.

[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 Copper Bounty Act 1960.

(2.) The Copper Bounty Act 1958 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the Copper Bounty Act 1958-1960.

Interpretation.

2. Section three of the Principal Act is amended—

(a) by inserting in sub-section (1.), after the definition of “the Comptroller-General”, the following definition:—

“‘the prescribed quantity’ means—

(a) in relation to the first or second year to which this Act applies—fifty tons; and

(b) in relation to 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—twenty-five tons;”;

(b) by omitting from paragraph (a) of the definition of “year to which this Act applies” in sub-section (1.) the word “or”; and

(c) by adding at the end of that definition the following word and paragraph:—

“; or (c) 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.”.

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

3. Section eight of the Principal Act is amended—

(a) by omitting from sub-section (2.) the words “the second year to which this Act applies” and inserting in their stead the words “a year to which this Act applies other than the first such year”;

(b) by omitting from sub-section (2.) the words “during the first year” and inserting in their stead the words “during an earlier year”;

(c) by omitting from sub-section (2.) the words “in that first year” and inserting in their stead the words “in that earlier year”; and

(d) by omitting from sub-section (6.) the words “fifty tons” and inserting in their stead the words “the prescribed quantity”.

Return for Parliament.

4. Section twenty-one of the Principal Act is amended by omitting from paragraph (a) of sub-section (1.) the words “fifty tons” and inserting in their stead the words “the prescribed quantity”.