1States Grants (Beef Industry) Act 1975

STATES GRANTS (BEEF INDUSTRY) ACT 1975

No. 81 of 1975

An Act to grant Financial Assistance to the States in relation to Beef Producers.

BE IT ENACTED by the Queen, the Senate and the House of Representatives of Australia, as follows: —

Short title.

1. This Act may be cited as the States Grants (Beef Industry) Act 1975.

Commencement.

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Grant of financial assistance.

3. (1) Subject to this section, the Minister may authorize the payment to a State, by way of financial assistance, of such amounts as he determines.

(2) The Minister shall not authorize the payment of an amount to a State under sub-section (1) if that amount or, where the Minister has previously authorized the payment of an amount or amounts to that State under that sub-section, the sum of the first-mentioned amount and the amount or amounts the payment of which was previously so authorized, exceeds one-half of the sum of the amounts lent by or on behalf of the State, in accordance with arrangements made between Australia and the State, to persons engaged in the production of beef cattle in the State.

(3) The sum of the amounts that may be paid to the States under this Act shall not exceed $19,600,000.

Conditions.

4. Payment of an amount (including an advance) to a State under this Act is subject to such terms and conditions (including terms and conditions as to repayment) as the Treasurer determines.

Advances.

5. The Treasurer may, at such times as he thinks fit, make advances to a State of such amounts as he thinks fit on account of an amount that may become payable to the State under this Act.

Appropriation.

6. Amounts payable to a State under this Act are payable out of the Consolidated Revenue Fund, which is appropriated accordingly.