Statutory Rules 1982 No. 1931

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Dairy Produce Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the Dairy Produce Act 1924.

Dated 11 August 1982.

N. M. STEPHEN

Governor-General

By His Excellency’s Command,

PETER NIXON

Minister of State for Primary Industry

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After regulation 4 of the Dairy Produce Regulations the following regulation is inserted:

Functions of Corporation

“4a. (1) For the purposes of paragraph 13 (f) of the Act the following function is prescribed, that is to say, to provide assistance by way of loans to trading corporations engaged in the manufacture of dairy produce, being loans—

(a) calculated, at a rate per tonne approved by the Minister, by reference to the quantity of dairy produce held in store by the trading corporation, being dairy produce manufactured by the trading corporation;

(b) secured by a charge over assets of the trading corporation; and

(c) made on terms that require the repayment of the loan at a time that is not later than the time at which—

(i) the dairy produce in respect of which the loan is made is removed by the trading corporation from premises at which it is held in store; or

(ii) any payment is received by the trading corporation in respect of the dairy produce,

whichever first occurs.

“(2) In sub-regulation (1), ‘trading corporation’ means a trading corporation within the meaning of paragraph 51 (xx) of the Constitution, being a trading corporation formed within the limits of the Commonwealth.”.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 12 August 1982.

2. Statutory Rules 1977 No. 109 as amended by Statutory Rules 1977 No. 232; 1978 No. 99.