WOOL USE PROMOTION.

No. 96 of 1952.

An Act to amend the Wool Use Promotion Act 1945, as amended by the Wool Tax Assessment Act 1952.

[Assented to 18th November, 1952.]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, for the purpose of appropriating the grant originated in the House of Representatives, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Wool Use Promotion Act 1952.

(2.) The Wool Use Promotion Act 1945, as amended by the Wool Tax Assessment Act 1952, is in this Act referred to as the Principal Act.

(3.) Section thirteen of the Wool Tax Assessment Act 1952 is amended by omitting sub-section (4.).

(4.) The Principal Act, as amended by this Act, may be cited as the Wool Use Promotion Act 1945–1952.

Commencement.

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

Wool Research Trust Account.

3. Section fifteen of the Principal Act is amended by inserting after sub-section (1) the following sub-section:—

“(2.) The Treasurer shall, in respect of each financial year, pay into the Research Account out of tie Consolidated Revenue Fund, which is appropriated accordingly—

(a) the sum of Two shillings for each bale of wool;

(b) the sum of One shilling for each fadge or butt of wool; and

(c) the sum of Four pence for each bag of wool,

in respect of which tax has been paid in that financial year under the Wool Tax Act (No. 1) 1953 or the Wool Tax Act (No. 2) 1952.”

Application of Fund.

4. Section seventeen of the Principal Act is amended—

(a) by omitting sub-section (1.); and

(b) by omitting from sub-section (2.) the words “Subject to the last preceding sub-section, the moneys” and inserting in their stead the words “The moneys”.