1New South Wales Grant (Leeton Co-operative Cannery Limited) Act 1971

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New South Wales Grant (Leeton Co-operative Cannery Limited)

No. 128 of 1971

An Act to make provision for the grant of Financial Assistance to the State of New South Wales to enable that State to make a Loan to Leeton Co-operative Cannery Limited.

[Assented to 16 December 1971]

BE it enacted by the Queen’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 New South Wales Grant (Leeton Co-operative Cannery Limited) Act 1971.

Commencement.

2. This Act shall be deemed to have come into operation on the twenty-third day of June, One thousand nine hundred and seventy-one.

Definition.

3. In this Act, “the State” means the State of New South Wales.

Grant of financial assistance.

4.—(1.) Subject to this Act, there is payable to the State, by way of financial assistance, an amount equal to the amount or amounts expended by the State in making advances to Leeton Co-operative Cannery Limited to enable that company to reduce its financial indebtedness.

(2.) The amount payable to the State under this Act shall not exceed Eight hundred and seventy-four thousand dollars.

Conditions.

5.—(1.) Payment of the amount payable to the State under this Act is subject to such conditions, if any, as the Minister, by instrument in writing, determines.

(2.) The conditions that may be determined by the Minister under the last preceding sub-section may include a condition as to repayment of the whole or part of the amount.

Appropriation.

6. The amount payable to the State under this Act is payable out of the Consolidated Revenue Fund, which is appropriated accordingly.