Financial Agreement (Amendment) Act 1976 (NSW)

Financial Agreement (Amendment) Act 1976 No 35

An Act to approve an Agreement between the Commonwealth of Australia and the States; and to amend the Financial Agreement Act 1944.

1 Name of Act This Act may be cited as the Financial Agreement (Amendment) Act 1976.

2 Commencement (1) Section 1 and this section shall commence on the date of assent to this Act. (2) Except as provided in subsection (1), this Act shall commence on such day as may be appointed by the Governor in respect thereof and as may be notified by proclamation published in the Gazette.

3 Approval of Agreement The Agreement made on 5 February 1976, a copy of which is set forth in the Schedule, is approved.

4 (Repealed)

Schedule (Section 3) AGREEMENT made the Fifth day of February One thousand nine hundred and seventy-six between— THE COMMONWEALTH OF AUSTRALIA of the first part; THE STATE OF NEW SOUTH WALES of the second part; THE STATE OF VICTORIA of the third part; THE STATE OF QUEENSLAND of the fourth part; THE STATE OF SOUTH AUSTRALIA of the fifth part; THE STATE OF WESTERN AUSTRALIA of the sixth part; and THE STATE OF TASMANIA of the seventh part, (each of the parties of the second, third, fourth, fifth, sixth and seventh parts being in this Agreement referred to as a "State" and the expression "the States" in this Agreement meaning, where the context so permits or requires, all of those parties). WHEREAS— (A) an Agreement (in this Agreement called "the Original Agreement") was made the 12th December 1927 between the parties to this Agreement with respect to the public debts of the States; (B) the provisions of the Original Agreement have been varied, affected or supplemented by the following agreements made in pursuance of section 105A of the Constitution of the Commonwealth of Australia— (i) Agreement made the 1st July 1928, a copy of which is set out in the Tasmania Sinking Fund Agreement Act 1928; (ii) Agreement made the 21st July 1931, a copy of which is set out in the Schedule to the Debt Conversion Agreement Act 1931; (iii) Agreement made the 22nd October 1931, a copy of which is set out in the Schedule to the Debt Conversion Agreement Act (No. 2) 1931; (iv) Agreement made the 3rd July 1934, a copy of which is set out in the Schedule to the Soldier Settlement Loans (Financial Agreement) Act 1935; (v) Agreement made the 15th November 1944, a copy of which is set out in the Schedule to the Financial Agreement Act 1944; and (vi) Agreement made the 11th February 1966, a copy of which is set out in the Schedule to the Financial Agreement Act 1966, (which Agreements are in this Agreement referred to as "the Supplemental Agreements"); (C) the parties have agreed that in pursuance of section 105A of the Constitution the provisions of the Original Agreement as varied by the Supplemental Agreements should be further varied as hereinafter appears; and (D) certain of the provisions of the Original Agreement as varied by the Supplemental Agreements have been fully performed and may be omitted from the Original Agreement for the purposes of its continued operation: NOW IT IS HEREBY AGREED as follows: