COAL MINES PROFITS (WAR-TIME).

No. 2 of 1944.

An Act to provide for the payment by the Owners of Controlled Coal Mines of Additional Profits which have accrued as a result of the exercise of Control by the Commonwealth Coal Commissioner.

[Assented to 8th March, 1944.]

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.

1. This Act may be cited as the Coal Mines Profits (War-time) Act 1944.

Commencement.

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

Interpretation.

3. Expressions used in this Act shall, unless the contrary intention appears, have the same meanings as in the Coal Production (War-time) Act 1944.

Payment of additional profits from controlled mines.

4. Where the amount of the profits derived from the operation of a controlled mine during any period while the mine is or was a controlled mine is determined in accordance with the provisions of the Coal Production (War-time) Act 1944 to exceed the amount of the profits derived from the operation of the mine for the period last preceding the date on which the mine became a controlled mine corresponding, as to dates, to the first mentioned period, the owner of the mine shall pay to the Commissioner an amount equivalent to the amount of the excess so determined.