Commonwealth act

Tasmania Grant (The Mount Lyell Mining and Railway Company Limited) Amendment Act (No. 2) 1978

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

157 of 1978

Collection

act

Plain English Summary

2/10 complexity

This law extends financial support for a struggling Tasmanian copper mine. It does two things:

Extends a deadline – Pushes back the cutoff date for existing agreements from 30 June 1978 to 30 September 1978.
Authorises new funding – Allows the Australian Government to pay Tasmania up to $3.8 million (or half of what Tasmania pays the company, whichever is smaller) to help keep the Mount Lyell mine operating from October 1978 through June 1980.

Why it matters: The Mount Lyell mine was a major employer on Tasmania's west coast. This law represents a federal bailout to prevent the mine from closing, with the Commonwealth matching Tasmania's financial support to keep the operation running.

JSON API

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in Tasmania Grant (The Mount Lyell Mining and Railway Company Limited) Amendment Act (No. 2) 1978.

Tasmania Grant (The Mount Lyell Mining and Railway Company Limited) Amendment Act (No. 2) 1978

TASMANIA GRANT (THE MOUNT LYELL MINING AND RAILWAY COMPANY LIMITED)
AMENDMENT ACT (No. 2) 1978

No. 157 of 1978

An Act to amend the Tasmania Grant (The Mount Lyell Mining and Railway Company Limited) Act 1977.

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

Short title, &c.

(1) This Act may be cited as the Tasmania Grant (The Mount Lyell Mining and Railway Company Limited) Amendment Act (No. 2) 1978.

(2) The Tasmania Grant (The Mount Lyell Mining and Railway Company Limited) Act 1977 is in this Act referred to as the Principal Act.

Commencement

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

Approval of execution of agreements

Section 3 of the Principal Act is amended by—

(a) omitting “30 June 1978” and substituting “30 September 1978”; and

(b) adding at the end thereof the following sub-section:

“(2) Approval is given to the execution, on behalf of the Commonwealth, of an agreement or agreements between the Commonwealth and Tasmania for the payment by the Commonwealth to Tasmania, for the purpose of assisting the continuation of the operation of The Mount Lyell Mining and Railway Company Limited’s mine at Mount Lyell in Tasmania from 1 October 1978 to 30 June 1980, inclusive, of amounts not exceeding in the aggregate whichever is the lesser of—

(a) one-half of the sum of any payments made by Tasmania to the Company for the purpose of assisting the continuation of the operation of that mine during that period; or

(b) $3,800,000.”.

View image in the official source

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Tasmania Grant (The Mount Lyell Mining and Railway Company Limited) Amendment Act (No. 2) 1978