Commonwealth Numbered Acts

BOUNTY AND SUBSIDY LEGISLATION AMENDMENT ACT (No. 2) 1986 No. 119 of 1986 - SECT 14

14. (1) Notwithstanding any provision of the Principal Act as amended by this
Act, bounty is not payable in respect of the construction or modification of a
bountiable vessel which was under construction, or being modified, on 28
August 1986 unless an application for the reservation, in accordance with the
regulations referred to in sub-section 6B (2) of the Principal Act as so
amended, of an amount of bounty in respect of the vessel is made within 3
months after the day on which those regulations take effect.

(2) Notwithstanding any provision of the Principal Act as amended by this Act,
bounty is not payable to a shipbuilder in respect of the construction or
modification of a bountiable vessel which was under construction, or being
modified, on 28 August 1986 otherwise than pursuant to a contract between the
shipbuilder and another person where the shipbuilder is not the owner of the
vessel, unless the construction of the vessel is completed before 30 June
1989.