Finance Act 1972

1: Short Title
This Act may be cited as the Finance Act 1972.
2: Stabilisation of sugar prices
1: The Minister of Finance and the Minister of Industries and Commerce, acting jointly on behalf of Her Majesty the Queen, may from time to time, on such terms and conditions as they think fit, enter into any agreement with the New Zealand Sugar Company Limited whereby the company agrees not to increase during such period of time as may be agreed the prices at which it sells sugar and sugar products. Every such agreement shall, notwithstanding anything in the Control of Prices Act 1947 or the Economic Stabilisation Act 1948, or in any regulations made under either of those Acts, have effect according to its tenor.
2: The Minister of Finance on behalf of Her Majesty the Queen may, pursuant to section 86 of the Public Finance Act 1977
3: All money payable by the Minister of Finance on behalf of Her Majesty the Queen pursuant to any agreement made or guarantee given under this section shall, without further appropriation than this section, be paid out of a Crown Bank Account Section 2(2) amended 1 April 1978 Public Finance Act 1977 Section 2(3) amended 25 January 2005 section 65R(3) Public Finance Act 1989
3: Grants for general and other purposes to education boards for years ended 31 January 1971 and 31 January 1972
Whereas for the year that ended with 31 January 1971 the payment of grants for general purposes to the education boards named in Part A Part B And whereas the amount by which payment of those grants exceeded the maximum amount payable is shown in the said Schedule 1 And whereas for the same years payment was also made to certain of those education boards of other grants and allowances more particularly described in paragraphs (b) to (d) at a higher rate than the rate for those years payable under those regulations: And whereas it is desired to validate and authorise those payments: Be it therefore enacted as follows: Payment of the following amounts shall be deemed to have been validly made, and always to have been validly made, in every way as if payment of those amounts had been expressly authorised under the Education Board Grants Regulations 1970:
a: all amounts, paid by way of grants for general purposes to the education boards named in Schedule 1 Part A Part B
b: all amounts, not exceeding $6,594 in total for the year that ended with 31 January 1971, and not exceeding $17,363 in total for the year that ended with 31 January 1972, paid to education boards for the incidental expenses of any State primary schools, including intermediate schools, under the control of the boards, being calculated according to the number of pupils on the rolls of those schools at a rate which for the first-mentioned year exceeded the maximum rate payable for that year under the Education Board Grants Regulations 1970 by not more than 24 cents for each pupil, and for the second-mentioned year exceeded the maximum rate payable for that year under those regulations by not more than 65 cents for each pupil:
c: all amounts, not exceeding $7,421 in total for the year that ended with 31 January 1971, and not exceeding $7,532 in total for the year that ended with 31 January 1972, paid to education boards for the incidental expenses of any district high schools under the control of the boards, being calculated according to the number of pupils on the rolls of those schools at a rate which for the first-mentioned year exceeded the maximum rate payable for that year under the Education Board Grants Regulations 1970 by not more than $1.50 per pupil for the first 100 secondary pupils, and by not more than 90 cents per pupil for the balance of secondary pupils, on the roll of each of those district high schools, and for the second-mentioned year exceeded the maximum rate payable for that year under those regulations by not more than $2.15 per pupil for the first 100 secondary pupils, and by not more than $1.35 per pupil for the balance of secondary pupils, on the roll of each of those district high schools:
d: all amounts, not exceeding $163 in total for the year that ended with 31 January 1971, and not exceeding $50 in total for the year that ended with 31 January 1972, paid to education boards for the heating of school premises, being calculated according to the number of pupils on the rolls of district high schools under the control of the boards at a rate which for the first-mentioned year exceeded the maximum rate payable for that year under the Education Board Grants Regulations 1970 by not more than 20 cents for each pupil, and for the second-mentioned year exceeded the maximum rate payable for that year under those regulations by not more than 9 cents for each pupil.
4: Grants for general expenses to governing bodies of secondary schools for years ended 31 January 1971 and 31 January 1972
Whereas for the year that ended with 31 January 1971 and for the year that ended with 31 January 1972, the payment of grants for general expenses to the governing bodies of schools within the meaning of the Secondary School Grants Regulations 1967 was made at a higher rate than the rate for those years payable under those regulations: And whereas it is desired to validate and authorise the payment of those grants: Be it therefore enacted as follows: Payment of the following amounts shall be deemed to have been validly made, and always to have been validly made, in every way as if the paying of those amounts had been expressly authorised under the Secondary School Grants Regulations 1967:
a: all amounts, not exceeding $202,683 in total, for the year that ended with 31 of January 1971, paid to the governing bodies of schools within the meaning of the Secondary School Grants Regulations 1967 for the general expenses of those schools, being calculated according to a scale of payments that exceeded the scale of payments payable for that year under those regulations by not more than the amounts specified in Part A
b: all amounts, not exceeding $401,984 in total, for the year that ended with 31 January 1972, paid to the governing bodies of schools within the meaning of the Secondary School Grants Regulations 1967 for the general expenses of those schools, being calculated according to a scale of payments that exceeded the scale of payments payable for that year under those regulations by not more than the amounts specified in Part B
5: Pharmacy bursaries
Whereas for the years and at the rates specified in Schedule 3 And whereas regulations for the award, and prescribing the rates, of those bursaries were first made on 6 June 1972 under the title of the Pharmacy Bursary Regulations 1972: And whereas it is desired to validate and authorise all payments made before the said 6 June 1972 by way of those bursaries as set out in the said Schedule 3 Be it therefore enacted as follows: All payments, not exceeding $387,070 in total, set out in Schedule 3
6: Unauthorised expenditure by education boards in excess of limits
Notwithstanding anything in section 37 Schedule 4 Schedule 4
7: Unauthorised expenditure by governing bodies of secondary schools
Notwithstanding anything in the Secondary School Grants Regulations 1967, the application of grants by the governing bodies of schools within the meaning of those regulations, paid to those bodies for the year that ended with 31 January 1971, and for the year that ended with 31 January 1972, shall be deemed to be valid and to have always been valid in so far as the application has been for the expenses of breaking-up ceremonies and school prizes, and did not exceed the amount that could be applied in those years for those purposes under those regulations by more than $30 in the case of a school which has 500 or less pupils, and, in other cases, the same amount increased by the amount of $10 for each 250 pupils above the first 500 pupils and for any remaining number of pupils that may be less than 250 pupils.
8: Financial year of Chatham Islands County Council
1: The Chatham Islands County Council Empowering Amendment Act 1963 is hereby repealed.
2: Notwithstanding anything in subsection (1), or in the Counties Act 1956, or in any other Act, the financial year of the Chatham Islands County Council that commenced on 1 January 1972 shall end with 31 March 1973.
9: Contribution under Fire Services Act 1949 by Wairarapa Automobile Association Mutual Insurance Company for year ending 31 March 1973
Whereas for the year that ended with 31 December 1971 the Wairarapa Automobile Association Mutual Insurance Company transmitted to the Fire Service Council a return that mistakenly showed the total gross amount of premiums received by the company in respect of motor vehicle comprehensive insurance increased by 3% of that amount, instead of showing only 3% of that amount as required by section 52 of the Fire Services Act 1949; And whereas under the said section 52 the company has transmitted to the Council an amended return; And whereas it is desired that the contribution payable to the Council by the company, as already determined in accordance with the return first made by the company, be redetermined in accordance with the amended return; And whereas the Council has already estimated its probable expenditure for the year ending with 31 March 1973, and, on the basis of the return first made by the company, has forwarded to each insurance company liable to contribute under the said Act a statement showing the amount payable by the company mentioned in the statement; And whereas it is desired that the Council borrow money by way of overdraft from its bankers for the purpose of meeting its expenditure for the year ending with 31 March 1973; And whereas it is desired that the Council be authorised to recover the amount of the money borrowed, together with all interest and other charges that may be incurred, from those insurance companies that are liable to contribute under the said Act, in direct proportion to their liability to contribute in respect of the returns transmitted by them to the Council for the year that ended with 31 December 1971; Be it therefore enacted as follows:
1: Notwithstanding anything in the Fire Services Act 1949, or in any other Act, the contribution payable to the Fire Service Council by the Wairarapa Automobile Association Mutual Insurance Company for the year ending with 31 March 1973 shall be the amount of $2,132.45 as calculated by the Council in accordance with the amended return transmitted to the Council by the company under section 51 of the Fire Services Act 1949 for the year that ended with 31 December 1971.
2: Notwithstanding anything in the Fire Services Act 1949, the Local Authorities Loans Act 1956, or any other Act, the Fire Service Council is hereby authorised—
a: to borrow by way of overdraft from its bankers such amounts, not exceeding in total the sum of $71,093.49 together with interest and other charges, required as a result of the provisions of subsection (1), for the purposes of meeting any deficiency in the funds of the Council in its expenditure for the year ending with 31 March 1973:
b: to require such increases in the contributions payable by insurance companies liable to contribute under the Fire Services Act 1949 for the year ending with 31 March 1974 as are in direct proportion to the liability of those companies to contribute in respect of the returns transmitted by them to the Council for the year that ended with 31 December 1971 for the purposes of recovering the total sum, not exceeding $71,093.49 together with interest and other charges, borrowed by way of overdraft as mentioned in paragraph (a).
10: Repeal of spent Acts
The following enactments are hereby repealed:
a: the Kawerau and Murupara Townships Act 1953:
b: the Kawerau Borough Act 1958.