Commonwealth Numbered Regulations

1982 No. 193 Dairy Produce Regulations (Amendment) - REG 1

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.".