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War Gratuity Appropriation Act 1948

Authoritative Version
Act No. 53 of 1948 as made
An Act to establish a War Gratuity Trust Account, to provide for the Payment of Moneys to the credit of that Account, and for other purposes.
Administered by: Finance
Date of Assent 25 Nov 1948
Date of repeal 22 Feb 2005
Repealed by Financial Framework Legislation Amendment Act 2005

WAR GRATUITY APPROPRIATION.

 

No. 53 of 1948.

An Act to establish a War Gratuity Trust Account, to provide for the Payment of Moneys to the credit of that Account, and for other purposes;

[Assented to 25th November, 1948.]

[Date of commencement, 23rd December, 1948.]

Preamble.

WHEREAS the Import Procurement Suspense Trust Account, the Marine War Risks Insurance Trust Account, the Overseas Shipping Trust Account and the War Damage Fund are Trust Accounts within the meaning of section sixty-two a of the Audit Act 1901-1947:

And whereas the moneys standing to the credit of the said Accounts are more than sufficient to meet the purposes for which those Accounts were established:

And whereas it is desirable that the moneys in excess of the requirements of the said Accounts shall be made available for the purpose of the payment of war gratuities under the War Gratuity Act 1945-1947:

And whereas it is desirable to establish a Trust Account to which the said moneys may be credited and from which the said war gratuities may be paid:


 

Be it therefore 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 War Gratuity Appropriation Act 1948.

War Gratuity Trust Account.

2.—(1.)    There shall be a War Gratuity Trust Account which, shall, be administered by the Treasurer and which shall be a trust account within the meaning of section sixty-two a of the Audit Act 1901-1947.

(2.)    Moneys standing to the credit of the War Gratuity Trust Account shall be applied in the payment of war gratuities under the War Gratuity Act 1945-1947.

Payment of moneys from certain trust accounts to Consolidated Revenue Fund.

3. There shall be paid to the Consolidated Revenue Fund—

(a) out of the Import Procurement Suspense Trust Account— the sum of Four million pounds;

(b) out of the Marine War Risks Insurance Trust Account the sum of Four million five hundred thousand pounds;

(c) out of the Overseas Shipping Trust Account—the sum of Three million pounds; and

(d) out of the War Damage Fund—the sum of Five million five hundred thousand pounds.

Appropriation of certain sums for war gratuities.

4.—(1.)   There shall be payable out of the Consolidated Revenue Fund, which, to the necessary extent, is hereby appropriated accordingly; for the purposes of the War Gratuity Trust Account established under section two of this Act—

(a) the sum of One million four hundred and twenty thousand four hundred and thirty pounds; and

(b) the sum of Twenty-two million pounds.

(2.)    There shall be credited to the War Gratuity Trust Account such further sums as are provided by the Parliament for the purposes-of that Account.