TASMANIA GRANT (THE MOUNT LYELL MINING AND RAILWAY COMPANY LIMITED) ACT 1977

No. 141 of 1977

An Act to grant financial assistance to Tasmania in relation to The Mount Lyell Mining and Railway Company Limited.

BE IT ENACTED by the Queen, and the Senate and House of Representatives of the Commonwealth of Australia, as follows:

Short title

1. This Act may be cited as the Tasmania Grant (The Mount Lyell Mining and Railway Company Limited) Act 1977.

Commencement

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

Approval of execution of agreements

3. Approval is given to the execution, on behalf of the Commonwealth, whether before or after the commencement of this Act, of an agreement or agreements between the Commonwealth and Tasmania for the payment by the Commonwealth to Tasmania of amounts not exceeding in the aggregate one-half of the sum of any payments made by Tasmania to The Mount Lyell Mining and Railway Company Limited for the purpose of assisting the continuation of the operation of that Company’s mine at Mount Lyell in Tasmania from 15 August 1977 to a date not later than 30 June 1978.

Payments and advances under agreements

4. (1) Any payments (including advances) by the Commonwealth to Tasmania that are provided for in any agreement referred to in section 3 may be made to Tasmania, by way of financial assistance, on the terms and conditions contained in the agreement.

(2) The payments (including advances) referred to in sub-section (1) may be made out of the Consolidated Revenue Fund, which is appropriated accordingly.