IRON AND STEEL PRODUCTS BOUNTY.

No. 28 of 1933.

An Act to amend the Iron and Steel Products Bounty Act 1922-1929.

[Assented to 4th December, 1933.]

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 and citation.

1.—(1.)   This Act may be cited as the Iron and Steel Products Bounty Act 1933.

(2.)  The Iron and Steel Products Bounty Act 1922-1929 is in this Act referred to as the Principal Act.

(3.)  The Principal Act, as amended by this Act, may be cited as the Iron and Steel Products Bounty Act 1922-1933.

Authority to pay bounty.

2.  Section three of the Principal Act is amended by inserting after the first proviso thereto the following proviso:—

“Provided further that when the rates of bounty payable on any traction engines have been decreased in pursuance of the last preceding proviso, and a further Customs Tariff has been introduced bringing into operation decreased duties of Customs on those articles, then the rates of bounty payable on those articles, delivered from the Australian factory after the introduction of such further Customs Tariff, may be increased by an amount which, in the opinion of the Minister, after inquiry and report by the Tariff Board, corresponds to the amount by which the duties of Customs are decreased and which is recommended by the Tariff Board as necessary for the maintenance of the industry, but nothing contained in this proviso shall authorize the Minister to increase the rates of bounty so as to exceed the rates set out in the Schedule to this Act.”.