1Tasmania 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. (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

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

Approval of execution of agreements

3. 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.”.

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