WHEAT INDUSTRY FUND REGULATIONS (AMENDMENT) 1990 NO. 417 

WHEAT INDUSTRY FUND REGULATIONS (AMENDMENT) 1990 NO. 417 
- TABLE OF PROVISIONS

1.  Amendment  
2.  Regulation 3 (Payments into the Fund)  
3.  Regulation 4 (Use of Fund money)  
4.  Regulation 7 (Guarantees by the Treasurer)  
5.  Regulation 8 (Equity in the Fund)  
6.  Regulation 9 (Issue of statements by Board)  


1990 No. 417 WHEAT INDUSTRY FUND REGULATIONS (AMENDMENT)
- REG 1
1. Amendment


  1.1 The Wheat Industry Fund Regulations are amended as set out in these
Regulations.


1990 No. 417 WHEAT INDUSTRY FUND REGULATIONS (AMENDMENT)
- REG 2
2. Regulation 3 (Payments into the Fund)


  2.1 Paragraph 3 (1) (a):
Omit "money received", substitute "profit made".
  2.2 Subregulation 3 (1):
Add at the end:
  "(c) money received by the Board from the Commonwealth under a guarantee to
which regulation 7 applies.".


1990 No. 417 WHEAT INDUSTRY FUND REGULATIONS (AMENDMENT)
- REG 3
3. Regulation 4 (Use of Fund money)


  3.1 Subregulation 4 (2):
After paragraph (a) insert:
  "(aa) by way of providing insurance cover in respect of any property or
activity of the Board; and".


1990 No. 417 WHEAT INDUSTRY FUND REGULATIONS (AMENDMENT)
- REG 4
4. Regulation 7 (Guarantees by the Treasurer)


  4.1 Subregulation 7 (1):
Omit the subregulation, substitute:
"(1) In this regulation a reference to borrowings or to the borrowing of money
includes a reference to money borrowed or to be borrowed and interest on those
borrowings.
"(1A) The Treasurer may:
  (a)  on behalf of the Commonwealth, enter into a contract of guarantee in
relation to borrowings by the Board for the purposes of activities involving
the use of money of the Fund; or
  (b)  by determination, give a guarantee on behalf of the Commonwealth in
relation to particular borrowings, or borrowings in general, by the Board for
the purposes of activities involving the use of the money of the Fund. "(1B)
If the Treasurer gives a guarantee under subregulation (1A):
  (a)  the aggregate of the principal guaranteed at any time is not to exceed
$100,000,000; and
  (b)  each guarantee is to be such that:
  (i)  it relates to borrowings that are to be repaid no later than 30 June
1994; or
  (ii)  if it relates to borrowings that are to be repaid later than 30 June
1994, the guarantee applies only to amounts that become due and payable no
later than that date and to obligations arising from those amounts.".
  4.2 Subregulation 7 (2):
Omit "subparagraph (1) (a) (ii)", substitute "paragraph (1A) (b)".
  4.3 Subregulation 7 (3):
Omit "an officer of the Department of the Treasury", substitute "the person
holding, occupying or performing the duties of the office of:
  (a)  Secretary to the Department of the Treasury; or
  (b)  Deputy Secretary or First Assistant Secretary in that Department".


1990 No. 417 WHEAT INDUSTRY FUND REGULATIONS (AMENDMENT)
- REG 5
5. Regulation 8 (Equity in the Fund)


  5.1 Paragraph 8 (1) (a):
Omit "in the previous season", substitute "before 1 July in that year if the
levy is credited to the Fund before that date".
  5.2 Paragraph 8 (2) (a):
Omit "by the person", substitute "before 1 July in that year by that person
and credited to the Fund before that date".


1990 No. 417 WHEAT INDUSTRY FUND REGULATIONS (AMENDMENT)
- REG 6
6. Regulation 9 (Issue of statements by Board)


  6.1 Paragraph 9 (1) (a):
Omit "in the previous season", substitute "before 1 July in that year if the
levy is credited to the Fund before that date".
  6.2 Paragraph 9 (2) (b):
Omit "by the person", substitute "before 1 July in that year by that person
and credited to the Fund before that date".


- NOTES


1990 No. 417*1* WHEAT INDUSTRY FUND REGULATIONS*2* (AMENDMENT)



*1* Notified in the Commonwealth of Australia Gazette on 21 December 1990.
*2* Statutory Rules 1990 No. 28.