TASMANIA GRANT.

No. 27 of 1924.

An Act to grant and apply out of the Consolidated Revenue Fund a sum for the purposes of Financial Assistance to the State of Tasmania.

[Assented to 26th September, 1924.]

Preamble.

BE it enacted by the King’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.

1.  This Act may be cited as the Tasmania Grant Act 1924.

Payment of £255,000 for financial assistance to Tasmania.

2.  Subject to this Act, there shall be payable, for the purposes of financial assistance to the State of Tasmania, the sum of Two hundred and fifty-five thousand pounds.

Payments to extend over period of five years.

3.—(1.)  Payments of the said sum of Two hundred and fifty-five thousand pounds shall extend over a period of five years according to the scale in the Schedule so that in each financial year mentioned in the first column of the Schedule there shall be paid the sum set opposite to that financial year in the second column of the Schedule.

(2.)    The amount payable in any year shall be paid in equal monthly instalments.

Payment of lottery tax to Tasmania.

4.  In addition to the payment provided in section two of this Act, there shall be payable to the State of Tasmania a sum which is equal to the amount of income tax received by the Commonwealth in respect of prizes won on or after the first day of July, One thousand nine hundred and twenty-four, in lotteries held in that State.

Appropriation.

5.  Payments in accordance with this Act shall be made out of the Consolidated Revenue Fund which is hereby appropriated accordingly.

THE SCHEDULE.