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Berry Fruit-growers' Relief Act 1941

Authoritative Version
Act No. 23 of 1941 as made
An Act to authorize the making of Loans to the State of Tasmania for the Purpose of Relief to Berry Fruit-growers, and for other purposes.
Date of Assent 07 Apr 1941
Date of repeal 31 Dec 1950
Repealed by Statute Law Revision Act 1950

BERRY FRUIT- GROWERS’ RELIEF.

 

No. 23 of 1941.

An Act to authorize the making of Loans to the State of Tasmania for the Purpose of Relief to Berry Fruit-growers, and for other purposes.

[Assented to 7th April, 1941.]

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 Berry Fruit-growers’ Relief Act 1941.

Commencement.

2.  This Act shall come into operation on the day on which it receives the Royal Assent.

Loans to State of Tasmania.

3.  The Treasurer may make loans, not exceeding in the whole the sum of Twenty thousand pounds, to the State of Tasmania for the purpose of the alleviation by that State, in accordance with agreements made between the Commonwealth and the State, of hardship suffered by berry fruit-growers in consequence of damage to crops by frost or hail.

Conditions of loan to State.

4.—(1.)     Moneys loaned to the State in accordance with the provisions of this Act shall be repaid by that State to the Commonwealth by four equal annual payments, the first to be made not later than four years after the making of the loan and the last to be made not later than seven years after the making of the loan.

(2.)    The State shall pay to the Commonwealth interest on the loans at the rate of three and one quarter per centum per annum.

Additional payments to State in respect of portion of interest.

5.  During the first year after the making to the State of a loan in accordance with the provisions of this Act, the Treasurer may pay to the State a sum not exceeding the interest on the loan payable by the State to the Commonwealth in respect of that year, and, during

 

each of the next following six years, the Treasurer may pay to the State a sum not exceeding one-half of the interest on the loan payable by the State to the Commonwealth in respect of that year.

Appropriation.

6.  Moneys loaned or paid in accordance with the provisions of this Act shall be payable out of the Consolidated Revenue Fund, which is hereby appropriated accordingly.