What it does
The Jervis Bay Territory Acceptance Act 1915 performs the foundational act of incorporating land formerly part of New South Wales into the Commonwealth as a non-self-governing territory. Section 3 ratifies and confirms the agreement set out in the Schedule (the precise metes and bounds of which are not reproduced in the current compilation but are incorporated by reference). Section 4(1) then effects the acceptance: upon commencement, the surrendered territory "shall be and is hereby accepted by the Commonwealth as a territory of the Commonwealth" and is to be known as the Jervis Bay Territory (s 4(4)).
The bulk of the operative work performed by the Act today, however, lies in the machinery provisions inserted by later amendment. Section 4A(1) applies the entire body of ACT law—statute, common law and equity—to the Territory "as if the Territory formed part of the Australian Capital Territory", subject only to inconsistency with an Ordinance made under the Act. Subsection (2) expressly extends two historic Seat of Government statutes (ss 6 and 7 of the Seat of Government Acceptance Act 1909 and most of the Seat of Government (Administration) Act 1910) while carving out ss 9 and 12 of the latter. The provision deliberately does not pick up any other Commonwealth Act.
Section 4AA excludes Chapter 2 of the Criminal Code from laws applied via s 4A, preserving the pre-Code fault elements and common-law principles that would otherwise be displaced. Sections 4B and 4C deal with the exercise of powers and functions under the applied ACT laws: the default position is that the ACT office-holder continues to exercise the power in relation to the Territory (s 4B(1)), but the Governor-General may re-allocate it by direction (s 4B(2)). Applied laws may be amended or repealed by Ordinance (s 4C).
Judicial power is conferred by s 4D: every ACT court, including the Supreme Court, has jurisdiction in and in relation to the Territory, and the procedural statutes apply mutatis mutandis. References in the Australian Capital Territory Supreme Court Act 1933 to "Ordinance" or "enactment" are read as references to instruments made under this Act.