Commonwealth Numbered Acts

BOUNTY AND SUBSIDY LEGISLATION AMENDMENT ACT (No. 2) 1988 No. 145 of 1988 - SECT 3

3. Where, before 30 June 1988, the Comptroller-General purported to accept an
application for reservation of bounty in relation to a bountiable vessel,
being a bulk carrier, a fishing vessel, a rig service vessel or a tug, the
construction of which:

   (a)  was commenced on or after 1 January 1988 and before the commencement
        of this section; or

   (b)  is, or is to be, commenced on or after the commencement of this
        section and before 1 July 1989; then, notwithstanding that on the day
        of that purported acceptance no vessels had been prescribed for the
        purposes of subparagraph 7 (1) (g) (i) of the Bounty (Ships) Act 1980,
        that application shall, for all purposes, be taken to have been
        validly accepted:

   (c)  on the day on which the Comptroller-General purported to accept the
        application; and

   (d)  in respect of an amount equal to 20% of the cost of the construction
        of that bountiable vessel.