NATIONAL DEBT SINKING FUND.

No. 17 of 1929.

An Act to amend the National Debt Sinking Fund Act 1923-1928.

[Assented to 25th March, 1929.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the National Debt Sinking Fund Act 1929.

(2.) The National Debt Sinking Fund Act 1923-1928 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the National Debt Sinking Fund Act 1923-1929.

Constitution of Commission.

2. Section six of the Principal Act is amended—

(a) by omitting from sub-section (1.) the word “and”;

(b) by inserting at the end of sub-section (1.) the words “and a person approved by a majority of the States as the representative of the States on the Commission”; and

(c) by inserting after sub-section (1.) the following sub-sections:—

“(1a.) The approval of a majority of the States of a person as the representative of the States on the Commission shall be given in writing by the Premiers of the States so approving, and the representative so approved shall hold office as a member of the Commission until the approval of any State so given is withdrawn, in like manner as it was given, so that the person is no longer approved by a majority of the States.

“(1b.) The Commission shall be deemed to be duly constituted and capable of exercising its powers and carrying out its duties under this Act notwithstanding that, at any time, there is no person approved by a majority of the States as the representative of the States on the Commission.”.