TRACTOR BOUNTY.

No. 57 of 1950.

An Act to amend the Tractor Bounty Act 1939–1947.

[Assented to 14th December, 1950.]

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 Tractor Bounty Act 1950.

(2.)  The Tractor Bounty Act 1939–1947 is in this Act referred to as the Principal Act.

(3.)  The Principal Act, as amended by this Act, may be cited as the Tractor Bounty Act 1939–1950.

Commencement.

2.   This Act shall be deemed to have come into operation on the twenty-fourth day of October, One thousand nine hundred and fifty.

Limit of annual bounty.

3.   Section four of the Principal Act is amended by omitting sub-section (1.) and inserting in its stead the following sub-section:—

“(1.)  The total amount of bounty payable under this Act shall be—

(a) in respect of tractors produced during the period which commenced on the twenty-fourth day of October, One thousand nine hundred and fifty, and ends on the thirtieth day of June, One thousand nine hundred and fifty-one—One hundred thousand pounds;

(b) in respect of tractors produced during the financial year commencing on the first day of July, One thousand nine hundred and fifty-one—Two hundred and fifty thousand pounds;

(c) in respect of tractors produced during the financial year commencing on the first day of July, One thousand nine hundred and fifty-two—Three hundred thousand pounds; and

(d) in respect of tractors produced during the period commencing on the first day of July, One thousand nine hundred and fifty-three, and ending on the twenty-third day of October, One thousand nine hundred and fifty-three—One hundred and fifty thousand pounds.”.

Specification of bounty.

4.   Section six of the Principal Act is amended by omitting the word “eleven” and inserting in its stead the word “fourteen”.

Rates of bounty.

5.—(1.) Section seven of the Principal Act is amended by omitting the table in sub-section (1.) and inserting in its stead the following table:—

(2.)  Section seven of the Principal Act is amended by omitting sub-section (7.) and inserting in its stead the following sub-sections:—

“(7.)  Where—

(a) a manufacturer uses, in the production of a tractor, imported materials or parts;

(b) materials or parts of the same kind are normally produced or manufactured in Australia; and

(c) the duty of customs charged on the importation of those materials or parts is, by reason of the operation of a Departmental By-Law made for the purposes of a Customs Tariff or a Customs Tariff proposal introduced into the House of Representatives, less than the duty otherwise chargeable,

the cost of those materials or parts shall, unless the Comptroller-General otherwise determines, be excluded in determining, for the purposes of sub-sections (1.), (5.) and (6.) of this section, the factory cost of the tractor.

“(8.)  The last preceding sub-section does not authorize the exclusion of so much of the cost of materials or parts referred to in that sub-section as exceeds one-tenth of the factory cost of the tractor (inclusive of the cost of all imported materials and parts).

“(9.)  For the purposes of this section, the Comptroller-General shall determine—

(a) the factory cost of a tractor and of materials and parts wholly manufactured in Australia;

(b) the cost of imported materials and parts; and

(c) the belt pulley horse-power of the engine of a tractor.”.