Federal Register of Legislation - Australian Government

Primary content

Solar Observatory Fund Act 1930

Authoritative Version
Act No. 5 of 1930 as made
An Act to provide a Fund for the Establishment and Endowment of a Solar Observatory in the Territory for the Seat of the Government.
Date of Assent 29 Mar 1930
Date of repeal 16 Oct 1953
Repealed by Commonwealth Observatory Trust Fund Act 1953

 

SOLAR OBSERVATORY FUND.

 

No. 5 of 1930.

An Act to provide a Fund for the Establishment and Endowment of a Solar Observatory in the Territory for the Seat of Government.

[Assented to 29th March, 1930.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title.

1.  This Act may be cited as the Solar Observatory Fund Act 1930.

Definitions

2.  In this Act, unless the contrary intention appears—

“the Director” means the Director of the Observatory and, where there is a vacancy in the office of Director, includes the officer for the time being in charge of the Observatory;

“the Fund” means the Fund established under this Act;

“the Observatory” means the Solar Observatory in the Territory for the Seat of Government;

“the trustees” means the trustees appointed by or under this Act.


 

Establishment of Fund.

3.  For the purposes of this Act, there shall be a Fund which shall be known as “The Commonwealth Solar Observatory Foundation and Endowment Fund”.

Control of Fund.

4.  The Fund shall be vested in and placed under the control of the trustees.

Trustees.

5.  The Director, the Secretary to the Department of the Treasury, the Secretary to the Department of Home Affairs, and such other person as the Minister may appoint, shall be the trustees of the Fund.

Constitution of Fund.

6.  The Fund shall consist of—

(a) donations contributed for the purposes of the foundation and endowment of the Observatory whether such donations are in the form of money or securities;

(b) investments made out of donations contributed prior to the commencement of this Act for the purposes of the Observatory; and

(c) any other money or property received by the trustees for the purposes of the Fund.

Requests and donations.

7.  Where any money or other property is given, devised or bequeathed to the Commonwealth for the purposes of the Observatory, the Minister may, after report by the trustees, direct that the money or property, or any specified part thereof, shall form part of the Fund and thereupon that money or property or part thereof shall be paid or transferred to the trustees for the purposes of the Fund.

Investment of Fund.

8.  The trustees may—

(a) invest moneys standing to the credit of the Fund in securities of the Commonwealth or on deposit in the Commonwealth Bank or in the Commonwealth Savings Bank; and

(b) convert into money any securities forming part of the Fund.

Expenditure from investments.

9.  The trustees may expend for the purposes of the Observatory the income accruing from investments of moneys constituting the Fund.

Report.

10.  The trustees shall, in the month of July in each year, furnish the Minister with a report showing the amount at credit of the Fund, the total amount of donations received during the preceding financial year, the securities in which moneys constituting the Fund have been invested, the income accruing there from and the total expenditure during the preceding financial year from the income of those securities and the purposes for which the expenditure was incurred.

Audit.

11.   All books and accounts kept by the trustees shall be audited from time to time by the Auditor-General for the Commonwealth who shall make a report of each audit to the Minister.

Regulations.

12.  The Governor-General may make regulations, not inconsistent with this Act, prescribing all matters which are required or permitted to be prescribed or which are necessary or convenient to be prescribed for carrying out or giving effect to this Act.