1Financial Agreement Act 1944

FINANCIAL AGREEMENT.

No. 46 of 1944.

An Act to approve an Agreement between the Commonwealth of Australia of the First Part, and the States of New South Wales, Victoria, Queensland, South Australia, Western Australia and Tasmania of the Second, Third, Fourth, Fifth, Sixth and Seventh Parts respectively, and for other purposes.

[Assented to 7th December, 1944.]

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

Citation.

1. This Act may be cited as the Financial Agreement Act 1944.

Commencement.

2. This Act shall commence on a date to be fixed by proclamation.

Approval of Agreement.

3. The Agreement made on the fifteenth day of November, One thousand nine hundred and forty-four, a copy of which is set forth in the Schedule to this Act, is approved.

Appropriation.

4.—(1.) The Consolidated Revenue Fund is hereby appropriated to the extent necessary for the purpose of carrying out the Financial Agreement on the part of the Commonwealth.

(2.) In this section, “the Financial Agreement” means the Agreement a copy of which is set forth in the Schedule to the Financial Agreement Act 1928, as varied prior to the date of commencement of this Act and as varied by the Agreement specified in the last preceding section.

Section 3. THE SCHEDULE.

AGREEMENT made the fifteenth day of November, One thousand nine hundred and forty-four BETWEEN THE COMMONWEALTH OF AUSTRALIA (in this Agreement called “the Commonwealth”) of the first part, THE STATE OF NEW SOUTH WALES of the second part, THE STATE OF VICTORIA of the third part, THE STATE OF QUEENSLAND of the fourth part, THE STATE OF SOUTH AUSTRALIA of the fifth part, THE STATE OF WESTERN AUSTRALIA of the sixth part, and THE STATE OF TASMANIA of the seventh part (each of the parties of the second, third, fourth, fifth, sixth and seventh parts being in this Agreement referred to as a “State” and the expression “the States” hereinafter used meaning where the context so permits or requires all of such parties):

WHEREAS an Agreement (hereinafter referred to as “the Financial Agreement”) was made on the twelfth day of December One thousand nine hundred and twenty-seven between the parties hereto with respect to the public debts of the States:

AND WHEREAS the Financial Agreement has been approved by the Parliaments of the Commonwealth and of the States:

AND WHEREAS the Financial Agreement has been varied by the following agreements made pursuant to Section 105a of the Constitution of the Commonwealth between the parties hereto, namely, an Agreement made the twenty-first day of July One thousand nine hundred and thirty-one a copy of which Agreement is set forth in the Schedule to the Debt Conversion Agreement Act 1931 of the Commonwealth, an Agreement made the twenty-second day of October One thousand nine hundred and thirty-one a copy of which Agreement is set forth in the Schedule to the Debt Conversion Agreement Act (No. 2) 1931 of the Commonwealth, and an Agreement made the third day of July One thousand nine hundred and thirty-four a copy of which Agreement is set forth in the Schedule to the Soldier Settlement Loans (Financial Agreement) Act 1935 of the Commonwealth (each of such Agreements being hereinafter referred to as an “Amending Agreement” and the expression “the Amending Agreements” hereinafter used meaning all of such Agreements):