Federal Register of Legislation - Australian Government

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Commonwealth Observatory Fund Act 1944

Authoritative Version
  • - C1944A00041
  • No longer in force
Act No. 41 of 1944 as made
An Act to amend the Solar Observatory Fund Act 1930-1932.
Date of Assent 07 Dec 1944
Date of repeal 16 Oct 1953
Repealed by Commonwealth Observatory Trust Fund Act 1953

COMMONWEALTH OBSERVATORY FUND.

 

No. 41 of 1944.

An Act to amend the Solar Observatory Fund Act 1930-1932.

[Assented to 7th December, 1944.]

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 and citation.

1.—(1.)   This Act may be cited as the Commonwealth Observatory Fund Act 1944.

(2.)  The Solar Observatory Fund Act 1930-1932 is in this Act referred to as the Principal Act.

(3.)  The Principal Act, as amended by this Act, may be cited as the Commonwealth Observatory Fund Act 1930-1944.

Commencement.

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

Title.

3.   The title of the Principal Act is amended by omitting the words “a Solar Observatory in the Territory for the Seat of Government” and inserting in their stead the words “an Observatory in the Australian Capital Territory”.

Definitions.

4.   Section two of the Principal Act is amended—

(a) by omitting the definition of “the Director” and inserting in its stead the following definition:—

“‘the Commonwealth Astronomer’ includes the officer in charge of the Observatory during any vacancy in the office of Commonwealth Astronomer;”; and

(b) by omitting the definition of “the Observatory” and inserting in its stead the following definition:—

“‘the Observatory’ means the Commonwealth Observatory in the Australian Capital Territory;”.

Establishment of Fund.

5.   Section three of the Principal Act is amended by omitting the word “Solar”.


 

Trustees.

6.   Section five of the Principal Act is amended by omitting the word “Director” and inserting in its stead the words “Commonwealth Astronomer”.

7.   Section nine of the Principal Act is repealed and the following section inserted in its stead:—

Commonwealth Astronomer’s Account.

“9.—(1.)  The trustees shall, at the end of each quarter in each financial year, deposit to the credit of the Commonwealth Astronomer in an account to be opened in the Commonwealth Savings Bank (in this section referred to as ‘the Commonwealth Astronomer’s Account’) the net income accruing during that quarter from investments of moneys constituting the Fund.

“(2.)   The Commonwealth Astronomer may expend for the purposes of the Observatory any moneys standing to his credit in the Commonwealth Astronomer’s Account.

“(3.)   The Commonwealth Astronomer may invest in securities of the Commonwealth any moneys standing to his credit in the Commonwealth Astronomer’s Account.

“(4.)   The Commonwealth Astronomer may convert any such securities into money, and shall pay the proceeds of any such conversion into the Commonwealth Astronomer’s Account.

“(5.)   The Commonwealth Astronomer shall, within fourteen days after the commencement of each financial year, furnish the trustees with a report showing particulars of the amounts paid into the Commonwealth Astronomer’s Account during the preceding financial year, the withdrawals from that account during the year, the purposes for which the withdrawals were made, the investments made or converted by him in pursuance of this section during the year, the unexpended balance remaining in the Commonwealth Astronomer’s Account at the end of the year and the investments held at the end of the year.”.

Audit.

8.   Section eleven of the Principal Act is amended by omitting the word “Director” and inserting in its stead the words “Commonwealth Astronomer”.

Continuance of existing Fund, Account and investments.

9.   All moneys standing to the credit of the Commonwealth Solar Observatory Foundation and Endowment Fund and the Director’s Account established under the Principal Act shall, upon the. commencement of this Act, be transferred respectively to the Commonwealth Observatory Foundation and Endowment Fund and the Commonwealth Astronomer’s Account established under the Principal Act as amended by this Act, and all investments made out of the first-mentioned Fund and Account shall, as from the commencement of this Act be deemed to have been made out of the second-mentioned Fund and Account respectively, and may be dealt with accordingly.