{"id":"C1970A00110","name":"States Grants (Debt Charges Assistance) Act 1970","slug":"states-grants-debt-charges-assistance-act-1970","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"110 of 1970","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":5589,"registerId":"commonwealth-C1970A00110-current","compilationNumber":null,"startDate":"2026-03-30","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"States Grants (Debt Charges Assistance) Act 1970","content":"States Grants (Debt Charges Assistance)\n\nNo. 110 of 1970\n\nAn Act to grant Financial Assistance to the States in connexion with certain Interest and Sinking Fund Contributions Payable by the States in pursuance of the Financial Agreement.\n\n\\[Assented to 11 November 1970\\]\n\nBE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—\n\nShort title.\n\n1. This Act may be cited as the States Grants (Debt Charges Assistance) Act 1970.\n\nCommencement.\n\n2. This Act shall come into operation on the day on which it receives the Royal Assent.\n\nInterpretation.\n\n3. In this Act, unless the contrary intention appears—\n\n(a) a reference to a year in relation to which this Act applies is a reference to the year ending on the thirtieth day of June, One thousand nine hundred and seventy-one, or any of the next four succeeding years;\n\n(b) a reference to the Financial Agreement is a reference to the Agreement a copy of which is set out in the Schedule to the Financial Agreement Act 1928 as subsequently varied; and\n\n(c) a reference to the First Schedule or to the Second Schedule is a reference to the First Schedule to this Act or to the Second Schedule to this Act, as the case may be.\n\nGrants to States in connexion with payment of interest.\n\n4. There is payable to each State, for the purpose of financial assistance in connexion with the payment of the interest that is required to be paid by that State in pursuance of the Financial Agreement on the debts specified in the First Schedule or on debts into which any of those debts may be converted—\n\n(a) in the year ending on the thirtieth day of June, One thousand nine hundred and seventy-one—one-fifth of the amount specified in the second column of the Second Schedule in relation to that State;\n\n \n\n(b) in the year ending on the thirtieth day of June, One thousand nine hundred and seventy-two—two\\-fifths of the amount so specified;\n\n(c) in the year ending on the thirtieth day of June, One thousand nine hundred and seventy-three—three\\-fifths of the amount so specified;\n\n(d) in the year ending on the thirtieth day of June, One thousand nine hundred and seventy-four—four\\-fifths of the amount so specified; and\n\n(e) in the year ending on the thirtieth day of June, One thousand nine hundred and seventy-five—the amount so specified.\n\nGrants to States in connexion with payment of sinking fund contributions.\n\n5. There is payable to each State, for the purpose of financial assistance in connexion with the payment of the sinking fund contributions that are required to be paid by that State in pursuance of the Financial Agreement in respect of the debts specified in the First Schedule or in respect of debts into which any of those debts may be converted—\n\n(a) in the year ending on the thirtieth day of June, One thousand nine hundred and seventy-one—one\\-fifth of the amount specified in the third column of the Second Schedule in relation to that State;\n\n(b) in the year ending on the thirtieth day of June, One thousand nine hundred and seventy\\-two—two\\-fifths of the amount so specified;\n\n(c) in the year ending on the thirtieth day of June, One thousand nine hundred and seventy\\-three—three\\-fifths of the amount so specified;\n\n(d) in the year ending on the thirtieth day of June, One thousand nine hundred and seventy\\-four—four\\-fifths of the amount so specified; and\n\n(e) in the year ending on the thirtieth day of June, One thousand nine hundred and seventy\\-five—the amount so specified.\n\nMethod of making payments.\n\n6. A grant payable to a State under this Act in a year shall be paid in such amounts and at such times during that year as the Treasurer determines.\n\nAppropriation.\n\n7. Payments for the purposes of this Act shall be made out of the Consolidated Revenue Fund, which is appropriated accordingly.\n\n \n\nTHE SCHEDULES\n\n——\n\nFIRST SCHEDULE Sections 4 and 5.\n\nDebts in Respect of Which Grants are Made\n\n```html\n

Description of Debts

Amounts of Debts (expressed in thousands of dollars) in respect of which States are Liable to pay Interest and Sinking Fund Contributions

Rate of Interest

Maturity Date

New South Wales

Victoria

Queensland

South Australia

Western Australia

Tasmania

Total

$’000

$’000

$’000

$’000

$’000

$’000

$’000

6.5%

July 1973....

69,363

50,799

20,846

27,300

20,181

14,511

203,000

5.9%

July 1977....

4,000

4,000

6.8%

August 1978..

13,212

9,676

3,304

5,200

3,844

2,764

38,000

5.0%

May 1984...

66,060

48,380

26,520

26,000

19,220

13,820

200,000

5.0%

September 1985

66,060

48,380

22,520

26,000

19,220

13,820

196,000

4.5%

July 1986....

26,424

19,352

9,608

10,400

7,688

5,528

79,000

4.5%

February 1987

6,606

4,838

2,652

2,600

1,922

1,382

20,000

5.4%

May 1987...

16,515

12,095

6,630

6,500

4,805

3,455

50,000

7.0%

May 1989...

16.515

12,095

6,630

6,500

4,805

3,455

50,000

5.4%

May 1990...

16,515

12,095

6,630

6,500

4,805

3,455

50,000

6.0%

October 1991.

10,000

10,000

5.25%

February 2004

33,030

24,190

13,260

13,000

9,610

6,910

100,000

Total .......

330,300

241,900

132,600

130,000

96,100

69,100

1,000,000

\n```\n\nSECOND SCHEDULE Sections 4 and 5.\n\nAnnual Interest and Sinking Fund Contributions Payable by States in Respect of Debts Specified in First Schedule\n\n| State | Interest | Sinking Fund Contributions | Total |\n| ------------------------------------ | ---------- | -------------------------- | ---------- |\n| | $ | $ | $ |\n| New South Wales................... | 18,173,106 | 825,750 | 18,998,856 |\n| Victoria.......................... | 13,309,338 | 604,750 | 13,914,088 |\n| Queensland........................ | 7,295,652 | 331,500 | 7,627,152 |\n| South Australia..................... | 7,152,600 | 325,000 | 7,477,600 |\n| Western Australia................... | 5,287,422 | 240,250 | 5,527,672 |\n| Tasmania......................... | 3,801,882 | 172,750 | 3,974,632 |\n| Total...................... | 55,020,000 | 2,500,000 | 57,520,000 |","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":1229},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The legislation remains tightly scoped to its original purpose: providing phased financial assistance to States for specific debt charges over a fixed five-year period. No expansion beyond the stated debt assistance purpose."},"complexity_factors":["Only 3 defined terms in the interpretation section","Simple linear formula (increasing by 1/5 each year) with no exceptions or conditions","Minimal cross-referencing (only to Financial Agreement Act 1928)","Straightforward tabular data in two schedules with no nested calculations"],"plain_english_summary":"This Act provides Commonwealth funds to the six Australian States to meet interest and sinking‑fund payments on specified state loans issued 1970–75. Assistance is phased up over five years (from 20% in 1970–71 to 100% by 1974–75) and covers loans listed in the First Schedule (about $1 billion total). It allocates annual amounts to each State (largest to NSW and Victoria), with payments made at the Treasurer’s discretion from the Consolidated Revenue Fund."}},"importantCases":[],"_links":{"self":"/api/acts/states-grants-debt-charges-assistance-act-1970","history":"/api/acts/states-grants-debt-charges-assistance-act-1970/history","analysis":"/api/acts/states-grants-debt-charges-assistance-act-1970/analysis","conflicts":"/api/acts/states-grants-debt-charges-assistance-act-1970/conflicts","importantCases":"/api/acts/states-grants-debt-charges-assistance-act-1970/important-cases","documents":"/api/acts/states-grants-debt-charges-assistance-act-1970/documents"}}