FORESTRY AND TIMBER BUREAU.

No. 42 of 1953.

An Act to amend the Forestry and  Timber Bureau Act 1930-1946.

[Assented to 16th October, 1953.]

BE it enacted by the Queen’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 Forestry and Timber Bureau Act 1953.

(2.)   The Forestry and Timber Bureau Act 1930-1946 is in this Act referred to as the Principal Act.

(3.)   The Principal Act, as amended by this Act, may be cited as the Forestry and Timber Bureau Act 1930-1953.

Commencement.

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

Definitions.

3.  Section two of the Principal Act is amended by omitting from sub-section (1.) the definitions of “the Fund” and “the trustees”.

Establishment of Forestry and Timber Bureau and appointment of officers.

4.  Section three of the Principal Act is amended by omitting from sub-section (3.) the words “Commonwealth Public Service Act 1922-1928” and inserting in their stead the words “Public Service Act 1922-1953”.

5.  Sections five to twelve (inclusive) of the Principal Act are repealed and the following sections inserted in their stead:—

Forestry Trust Fund.

“5.—(1.)   For the purposes of this Act, there shall be established a Forestry Trust Fund (in this section referred to as ‘the Fund’), which shall be a Trust Account within the meaning of section sixty-two a of the Audit Act 1901-1953.

“(2.) There shall be paid into the Fund—

(a) donations for the furtherance of forestry received by the Director-General or otherwise received by or on behalf of the Commonwealth; and

(b) moneys appropriated by the Parliament for the purposes of the Fund or payable to the Fund under any other law.

“(3.) Moneys standing to the credit of the Fund may be applied, in a manner approved by the Minister, for the furtherance of forestry.

“(4.) Interest received from the investment of moneys standing to the credit of the Fund forms part of the Fund.

Receipt of donation.

“6.    The Director-General may receive donations made for the furtherance of forestry.”.

Moneys, &c., in Forestry Fund to be transferred to Forestry Trust Fund.

6.—(1.)     So much of the moneys that, at the commencement of this Act, are standing to the credit of The Forestry Fund established under the Principal Act as are on deposit in a bank shall be paid into the Forestry Trust Fund established in pursuance of the Principal Act, as amended by this Act.

(2.)   All securities that, at the commencement of this Act, represent moneys standing to the credit of The Forestry Fund established under the Principal Act shall be transferred to the Commonwealth and thereupon—

(a) the value of those securities shall be credited to the Forestry Trust Fund established in pursuance of the Principal Act, as amended by this Act; and

(b) those securities shall be deemed to be investments of moneys standing to the credit of that Fund.