Compilation #5 | Effective 2017-03-22
FRBR Work URI: /akn/au/act/1974/135
This Act may be cited as the Urban and Regional Development (Financial Assistance) Act 1974.
This Act shall come into operation on the day on which it receives the Royal Assent.
In this Act, unless the contrary intention appears:
appropriate Minister means a Minister of that State having functions relating to urban and regional development, and includes any other Minister of that State for the time being acting for and on behalf of such a Minister.
approved body means a body approved under section 3A.
State includes the Australian Capital Territory.
urban and regional development includes any matter specified in an item in the Schedule.
The Minister may, in writing, approve a body for the purposes of this Act if the body is:
an authority of a State; or
a local governing body; or
a body corporate constituted for purposes other than the acquisition of gain by its individual members.
An approval under subsection (1) is not a legislative instrument.
The Minister may, in consultation with an appropriate Minister of a State, approve programs relating to matters specified in the Schedule.
Australia may agree with a State upon financial assistance by way of a loan or otherwise to be provided by Australia to the State under this Act in respect of expenditure by that State, or by an approved body, in accordance with a program approved under section 4, and financial assistance may be provided to the State accordingly.
An agreement under subsection (1) shall be in writing.
An agreement under subsection (1) may include provision for:
the review of the operation of the agreement; and
the amendment of the agreement by a further agreement in consequence of such a review;
and the agreement as so amended may vary any conditions provided for by section 7.
Financial assistance to a State under this Act is subject to:
such of the conditions provided for by this Act as are applicable; and
such other conditions as are specified in the agreement.
For the purposes of paragraph (1)(a), such of the provisions of this Act as are applicable to a State shall be regarded as conditions.
Subject to this Act, where financial assistance under this Act is provided to a State by way of loan, the State shall:
repay the loan in such manner, and within such period, as are specified in the agreement in accordance with which the financial assistance is provided; and
pay interest in respect of the loan at the long-term bond rate in such manner, and at such times within that period, as are so specified.
For purposes of subsection (1), a reference to the long-term bond rate, in relation to any interest, is a reference to the rate that is equivalent to the rate of yield to maturity of the long-term loan of the last loan-raising by the Australian Government in Australia for public subscription before a date specified in, or ascertained in accordance with, the agreement.
The Minister shall cause a copy of every agreement made under this Act, including every amending agreement, to be laid before each House of the Parliament within 15 sitting days of the House after the date on which the agreement was made.
Financial assistance provided to the States under this Act shall be made out of moneys appropriated from time to time by the Parliament for the purposes of this Act.
Schedule—Urban and Regional Development Matters
Sections 3 and 4
1. Urban expansion and re-development (which may include sewerage and water supply)
2. Area improvement, being urban and regional improvement and rehabilitation
3. Sewerage
4. Water supply
5. Flood mitigation
Endnotes
Endnote 1—About the endnotes
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
Abbreviation key—Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
Editorial changes
The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
Misdescribed amendments
A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.
If a misdescribed amendment cannot be given effect as intended, the abbreviation “(md not incorp)” is added to the details of the amendment included in the amendment history.
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history