|
Section 51(xii) Of The Australian Constitution
Section 51 (xii): is a subsection of Section 51 of the Constitution of Australia, that gives the Commonwealth Parliament the right to legislate with respect to “currency, coinage, and legal tender.” Generally, powers in section 51 of the Constitution of Australia can also be legislated on by the states, although Commonwealth law will prevail in cases of inconsistency. However, the currency power must be read in conjunction with other parts of the Constitution of Australia. Section 115 of the Constitution establishes “a state shall not coin money, nor make anything but gold or silver coin a legal tender in the payment of debts”. This section effectively makes the concurrent power in section 51(xii) exclusive to the Commonwealth. Despite this, coins of the Australian pound were not introduced until 1910, following the enactment of the ''Coinage Act 1909''. The federal government did not issue banknotes until 1913, following the passage of the ''Australian Notes Act 1910' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Section 51 Of The Constitution Of Australia
Section 51 of the Constitution of Australia enumerates the legislative powers granted to Federal Parliament by the Australian States at Federation. The list contains 39 subsections, each referred to as a 'head of power' under which the parliament is empowered to make laws. The section is not an exhaustive list, as the federal parliament is authorized to enact legislation outside of those topics by certain other sections in the Constitution, such as sections 52 and 128. Australian States may still enact legislation upon the topics in section 51; but Federal law prevails to the extent of any conflict of laws. Powers of the Parliament Federation was intended to address problems caused by having the separate colonies on the one continent. Section 51 therefore encompasses a group of powers (known as heads of power) which reflect what powers the Commonwealth was viewed as needing to solve those problems. The most important heads of power in terms of supporting contemporary Common ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Section 51 Of The Constitution Of Australia
Section 51 of the Constitution of Australia enumerates the legislative powers granted to Federal Parliament by the Australian States at Federation. The list contains 39 subsections, each referred to as a 'head of power' under which the parliament is empowered to make laws. The section is not an exhaustive list, as the federal parliament is authorized to enact legislation outside of those topics by certain other sections in the Constitution, such as sections 52 and 128. Australian States may still enact legislation upon the topics in section 51; but Federal law prevails to the extent of any conflict of laws. Powers of the Parliament Federation was intended to address problems caused by having the separate colonies on the one continent. Section 51 therefore encompasses a group of powers (known as heads of power) which reflect what powers the Commonwealth was viewed as needing to solve those problems. The most important heads of power in terms of supporting contemporary Common ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Section 109 Of The Constitution Of Australia
Section 109 of the Constitution of Australia is the part of the Constitution of Australia that deals with the legislative inconsistency between federal and state laws, and declares that valid federal laws override ("shall prevail") inconsistent state laws, to the extent of the inconsistency. Section 109 is analogous to the Supremacy Clause in the United States Constitution and the paramountcy doctrine in Canadian constitutional jurisprudence, and the jurisprudence in one jurisdiction is considered persuasive in the others. Text Section 109 of the Constitution of Australia provides that: Section 109, together with section 5 of the ''Commonwealth of Australia Constitution Act 1900'' (which is not part of the Australian Constitution) have been considered to be the foundation for the existence of the judicial review power in Australia. The section provides: "Invalidity of a State law" does not mean that the State law is invalid in the positivist sense that the State Parliament ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coins Of The Australian Pound
A coin is a small, flat (usually depending on the country or value), round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. ''Obverse'' and its opposite, ''reverse'', refer to the two flat faces of coins and medals. In this usage, ''obverse'' means the front face of the object and ''reverse'' means the back face. The obverse of a coin is commonly called ''heads'', because it often depicts the head of a prominent person, and the reverse ''tails''. Coins are usually made of metal or an alloy, or sometimes of man-made materials. They are usually disc shaped. Coins, made of valuable metal, are stored in large quantities as bullion coins. Other coins are used as money in everyday transactions, circulating alongside banknotes. Usually the highest valu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Notes Act 1910
The ''Australian Notes Act 1910'' was an Act of the Parliament of Australia which allowed for the creation of Australia's first national banknotes. In conjunction with the ''Coinage Act 1909'' it created the Australian pound as a separate national currency from the pound sterling. The act was enacted on 16 September 1910 by the Fisher Labour Government under Section 51 (xii) of the Constitution of Australia, which gives the Commonwealth Parliament the power to legislate with respect to “currency, coinage, and legal tender.” The act gave control over the issue of Australian notes to the Commonwealth Treasury and prohibited the circulation of state notes and withdrew their status as legal tender.Reserve Bank of AustraliaHistory of Banknotes/ref> The '' Bank Notes Tax Act 1910'', enacted in October of that year imposed a prohibitive tax on banknotes issued by banks in Australia by imposing an annual tax of 10% on "all bank notes issued or re-issued by any bank in the Commo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Notes Tax Act 1910
The ''Bank Notes Tax Act 1910'' was an Act of the Parliament of Australia which imposed a prohibitive tax on banknotes issued by banks in Australia. The Act was enacted in October 1910 by the Fisher Labour Government under Section 51 (xii) of the Constitution of Australia that gives the Commonwealth Parliament the power to legislate with respect to “currency, coinage, and legal tender” and the taxing power. The Act imposed an annual tax of 10% on "all bank notes issued or re-issued by any bank in the Commonwealth after the commencement of this Act and not redeemed." The tax commenced in March 1911. In September 1910, the federal government had passed the ''Australian Notes Act 1910'' which introduced an Australian national currency, the Australian pound, and, as part of the scheme, the objective of the ''Bank Notes Tax Act'' was to end the use of private currency in Australia, which it had achieved. Subsequent events The ''Bank Notes Tax Act'' was repealed by the ''Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
