URBAN AND REGIONAL DEVELOPMENT

(FINANCIAL ASSISTANCE) ACT 1975

No. 74 of 1975

An Act to amend the Urban and Regional Development (Financial Assistance) Act 1974.

BE IT ENACTED by the Queen, the Senate and the House of Representatives of Australia, as follows: —

Short title and citation.

1. (1) This Act may be cited as the Urban and Regional Development (Financial Assistance) Act 1975.

(2) The Urban and Regional Development (Financial Assistance) Act 1974 is in this Act referred to as the Principal Act.

(3) The Principal Act, as amended by this Act, may be cited as the Urban and Regional Development (Financial Assistance) Act 1974-1975.

Commencement.

2. (1) Subject to sub-section (2), this Act shall come into operation on the day on which it receives the Royal Assent.

(2) Sections 3 and 4 shall be deemed to have come into operation on 9 December 1974.

Conditions.

3. Section 6 of the Principal Act is amended by adding at the end thereof the following sub-section:—

“(3) In relation to financial assistance provided to New South Wales or Victoria under this Act by way of loan for the purposes of the Agreement approved by the Albury-Wodonga Development Act 1973, sub-clause 12(4) of that Agreement shall, for the purposes of paragraph (1)(a) of this section, be deemed to be a condition provided for by this Act.”.

Financial assistance by way of loan.

4. Section 7 of the Principal Act is amended by omitting paragraph of sub-section (1) and substituting the following paragraph:—

“(a) repay the loan in such manner, and within such period, as are specified in the agreement in accordance with which the financial assistance is provided; and”.

Financial assistance during 1974-1975.

5. Section 9 of the Principal Act is amended by omitting from sub-section (3) the figures “$258,398,000” and substituting the figures “$258,848,000”.

Schedule.

6. The Schedule to the Principal Act is amended—

(a) by inserting after item 5 the following item:—

“6. Flood mitigation................................................450,000”;

and

(b) by omitting the figures “258,398,000” and substituting the figures “258,848,000”.