1States Grants (Capital Assistance) Act (No. 3) 1972

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States Grants (Capital Assistance) (No. 3)

No. 77 of 1972

An Act to grant Financial Assistance to the States in connexion with Expenditure of a Capital Nature and to Authorize the Borrowing of Certain Moneys by the Commonwealth.

[Assented to 27 September 1972]

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 States Grants (Capital Assistance) Act (No. 3) 1972.

Commencement.

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

Grants to States during year 1972–73.

3.—(1.) There is payable to a State specified in the first column of the Schedule to this Act, during the year ending on the thirtieth day of June, One thousand nine hundred and seventy-three, for the purpose of financial

assistance in connexion with expenditure of a capital nature, the amount specified in the second column of that Schedule opposite to the name of that State, less the sum of any payments made to that State under sub-section (1.) of section 7 of the States Grants (Capital Assistance) Act 1971–1972.

(2.) In addition to the amount payable under the last preceding sub-section, there is payable to a State specified in the first column of the Schedule to this Act, during the year ending on the thirtieth day of June, One thousand nine hundred and seventy-three, for the purpose of financial assistance in connexion with expenditure of a capital nature on primary schools and secondary schools conducted by that State, the amount specified in the third column of that Schedule opposite to the name of that State, less the sum of any payments made to that State under sub-section (1a.) of section 7 of the States Grants (Capital Assistance) Act 1971–1972.

(3.) Payments for the purposes of this section shall be made in such amounts and at such times as the Treasurer determines.

Advance payments to States for year 1973–74.

4. The Treasurer may, during the period of six months commencing on the first day of July, One thousand nine hundred and seventy-three, make payments to a State specified in the first column of the Schedule to this Act, for the purpose of financial assistance in connexion with expenditure of a capital nature, of amounts not exceeding in the aggregate the amount specified in the fourth column of that Schedule opposite to the name of that State.