1Customs Tariff (Exchange Adjustment) Act 1933

CUSTOMS TARIFF (EXCHANGE ADJUSTMENT).

No. 29 of 1933.

An Act to provide for Adjustments in Duties of Customs consequent upon depreciation in the value of Australian currency in relation to the currencies of countries to goods of which the British Preferential Tariff applies.

[Assented to 4th December, 1933.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title.

1. This Act may be cited as the Customs Tariff (Exchange Adjustment) Act 1933.

Incorporation.

2. The Customs Act 1901-1930 shall be incorporated and read as one with this Act.

Definition.

3. In this Act, except where otherwise clearly intended—

“Customs Tariff proposals” means Customs Tariff proposals (not being proposals relating to primage duty) introduced into the House of Representatives on or after the thirteenth day of October, One thousand nine hundred and thirty-two, and includes any amendment of such proposals;

“goods to which protective duties apply” shall be deemed to be the goods specified in the Schedule to this Act or covered by the Customs Tariff Items so specified;

“the British Preferential Tariff” means the Tariff from time to time in force applying to goods the produce or manufacture of the United Kingdom.

Time of variation of duties.

4. The time of the variation of Duties of Customs effected in accordance with this Act is the fifth day of October, One thousand nine hundred and thirty-three at nine o’clock in the forenoon, reckoned according to standard time in the Territory for the Seat of Government, and this Act shall be deemed to have come into operation at that time.

Adjustment in duties of Customs.

5. The duties of Customs (other than primage duty and duty imposed by the Customs Tariff (Industries Preservation) Act 1921-1922 or any Act amending or in substitution for that Act) which would, but for the provisions of this Act, be payable on goods to which protective duties apply and which are admissible under the British Preferential Tariff and which are entered for home consumption on or after the fifth day of October, One thousand nine hundred and thirty-three, shall be varied in accordance with the following provisions:—

(a) Whenever at the date of exportation of any such goods Australian currency is depreciated to the extent of not less than sixteen and two-thirds per centum in relation to the currency of the British country from which those goods are imported, a deduction from the amount of duty payable on those goods in accordance with any law of the Commonwealth for the time being in force imposing Duties of Customs (other than primage duty and duty imposed by the Customs Tariff (Industries Preservation) Act 1921-1922 or any Act amending or in substitution for that Act) or in accordance with Customs Tariff proposals shall be made of—