CELLULOSE ACETATE FLAKE BOUNTY (No. 2).

No. 57 of 1961.

An Act to amend the Cellulose Acetate Flake Bounty Act 1956-1959, as amended by the Cellulose Acetate Flake Bounty Act 1961.

[Assented to 24th October, 1961.]

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 Cellulose Acetate Flake Bounty Act (No. 2) 1961.

(2.) The Cellulose Acetate Flake Bounty Act 1956-1959, as amended by the Cellulose Acetate Flake Bounty Act 1961, is in this Act referred to as the Principal Act.

(3.) Section one of the Cellulose Acetate Flake Bounty Act 1961 is amended by omitting sub-section (3.).

(4.) The Principal Act, as amended by this Act, may be cited as the Cellulose Acetate Flake Bounty Act 1956-1961.

Commencement.

2. This Act shall be deemed to have come into operation on the first day of July, One thousand nine hundred and sixty-one.

Definitions.

3. Section three of the Principal Act is amended by omitting from the definition of “year to which this Act applies” the words “five succeeding years” and inserting in their stead the words “eight succeeding years”.

Extension of period in respect of which bounty is payable.

4. Section three a of the Principal Act is repealed.

5. Section seven of the Principal Act is repealed and the following section inserted in its stead:—

Rate of bounty.

“7. The rate of the bounty is—

(a) in respect of cellulose acetate flake sold before the fourteenth day of September, One thousand nine hundred and sixty-one—Tenpence per pound; or

(b) in respect of cellulose acetate flake sold on or after that date—Sevenpence per pound.”.

Limit of annual bounty.

6. Section eight of the Principal Act is amended—

(a) by omitting from sub-section (1.) the words “Subject to the next succeeding sub-section, the” and inserting in their stead the word “The”;

(b) by omitting from sub-section (1.) the words “each year” and inserting in their stead the words “each of the first six years”;

(c) by omitting sub-section (1a.) and inserting in its stead the following sub-section:—

“(1a.) The amounts available for payment of bounty in respect of cellulose acetate flake sold after the thirtieth day of June, One thousand nine hundred and sixty-one, are—

(a) in respect of cellulose acetate flake sold in the period that commences on the first day of July, One thousand nine hundred and sixty-one, and ends on the thirteenth day of September, One thousand nine hundred and sixty-one—the amount that bears to One hundred and forty-two thousand pounds the same proportion as that period bears to twelve months;

(b) in respect of cellulose acetate flake sold in the period that commences on the fourteenth day of September, One thousand nine hundred and sixty-one, and ends on the thirtieth day of June, One thousand nine hundred and sixty-two—the amount that bears to Ninety thousand pounds the same proportion as that period bears to twelve months; and

(c) in respect of cellulose acetate flake sold in each of the last two years to which this Act applies—Ninety thousand pounds.”;

(d) by omitting from sub-section (2.) the words “a year to which this Act applies” and inserting in their stead the words “a year or other period referred to in either of the last two preceding sub-sections”; and

(e) by omitting from sub-section (3.) the words “a year to which this Act applies” and inserting in their stead the words “a year or other period referred to in sub-section (1.) or (1a.) of this section”.