GOLD-MINING INDUSTRY ASSISTANCE.

No. 48 of 1957.

An Act to amend the Gold-Mining Industry Assistance Act 1954–1956.

[Assented to 22nd October, 1957.]

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 Gold-Mining Industry Assistance Act 1957.

(2.) The Gold-Mining Industry Assistance Act 1954–1956 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the Gold-Mining Industry Assistance Act 1954–1957.

Commencement.

2. This Act shall be deemed to have come into operation on the first day of July, One thousand nine hundred and fifty-seven.

Rate of subsidy.

3. Section nine of the Principal Act is amended—

(a) by omitting paragraph (b) of sub-section (2.) and inserting in its stead the following paragraph:—

“(b) Two pounds fifteen shillings,”; and

(b) by omitting from sub-section (3.) the words “One pound ten shillings” and inserting in their stead the words “Two pounds”.

Ascertainment of cost of production.

4. Section ten of the Principal Act is amended by omitting paragraph (b)of sub-section (4.) and inserting in its stead the following paragraph:—

“(b) Five pounds five shillings,”.

Application of amendments.

5. The amendments made to the Principal Act by this Act do not apply in relation to—

(a) gold bullion produced before the first day of July, One thousand nine hundred and fifty-seven (not being gold bullion deemed, for the purposes of the Gold-Mining Industry Assistance Act 1954–1957, to have been produced on or after that date); or

(b) gold bullion deemed, for the purposes of the Gold-Mining Industry Assistance Act 1954–1957, to have been produced before the first day of July, One thousand nine hundred and fifty-seven.