Agricultural Bank Act Amendment Act of 1914 (5 Geo v No. 14) (Qld)

I. PUBLIC AC OF THE PARLIAMENT OF QUEENSLAND~ 5° GEORGII V. AGRICULTURE. A.qriwltural Bank Act Amendment Act 0/1914 Co-operative A.q1"icultural PJ'oduction Act of 1914 FertiliseJ"s Act 0/1914 Pure Seeds Act Amendment Act 0{1914 ... 5 Qeo. V. lio. 14 5 Qeo. V. No. 36 5 Qeo. V. No. 8 5 Qeo. V. No. 10 An Act to Amend "The Agricultural Bank Act 5 Geo. V. N... 14. (Consolidated) of 1911" in certain particulars. THE AGRICUL- [ASSENTED TO 23RD OCTOBER, 1914.J TURAL BANK ACT B AMENDMENT E it enacted hy the King's "Most Excellent Majesty, ACT OF 1914. by and with the ~ 1( lvice and consent of the I..egis- lative Council and Legislatiye Assembly of Queens]and in Parliament assembled, and by the authority of the same, as follows:- 1. This Act may be cited as " The AfJriculhwal Bank Short title Act Amendmf'nt Act of 1914," and shall be read as one~ ~gstrllction with "The Agricultural Bonk Act (Consolidated) of of Act. 1911,"* herein referred to as the Principal Act. 'The Principal Act as amended by this Act may be cited as " The Agricultttral Bank Act (Consolidated) of 1914,"t and sections thirty-six and thirty-seven of the Principal Amendment A C t S h a 11 h e amen d ~ ed and const.rued accordm' g I y. 3 o 7 f . ss. 36 and 2. In the third paraO'raph of subseotion three of Amendment section four of the Principal Act, the words "Secretary of s. 4. for Agriculture" are repealed, and the vvords "Secretary for Public Lands" are inserted in lieu thereof. I n subsection four of the said section, the words "one hundred and fifty-seven pounds ten shillings" are repealed, and the words "three hundred and fifteen pounds" are inserted in lieu thereof. * 2 Geo. V. No. 25, 8upra, page 5279. t "The Agricultural Bank Act (Consolidated) of 1914" is printed as Appendix A, infra.

6168 AGRICULTURE. Agricultural Bank Act Amendment Act. 5 GEO. V. No 14, Repeal of s. (j. 3. Section six of t he Principal Act is repealed, and the following section is inserted in lieu thereof : - '-Administra· [6.J rl'ltis Ad shall he administered hy the Trustees tion: ' and, subject to the' direction of the Secretary for Public IJands, by officers of the Department of Public Lands. The Governor in Council may from time to time appoint any Statu inspector of stock or of dairy produce or any police officer to be an inspector or valuer or agent of the Bank and otherwise to aid in carrying out this Act. AmendmEnt 4. The following paragraph is added to section sixteen of s. 16. of the Principal Act : - (e) Not exceeding the sum of two hundred pounds for unspecified purposes on the fair estimated value of the holding, provided that the applicant is a bund fide settler and is working the holding' for the purpose of agricultural, dairying, grazing, horticultural, or viticultural pursuits; but in no case shall any advance for unspecified purposes be made on the security of the mort- gage of a prickly-pear selection unless it is entirely free from prickly-pear at the date of application for the advance Amendment 5. In the third paragraph of subsection one of of s. 17. section seventeen of the Principal Act, tIle words "twelve shillings" are repealed, and the words "thirteen shillings and four pence" are inserted in lieu thereof. In subsection three of the said section, the words " Secretary for Agriculture" are repealed, and the words " Secretary for Fublic Lands" are inserted in lieu thereof. Amendment 6. In the first paragraph of subsection one of section of •. 23. twenty-three of the Principal Act, after the words "on which the advance" the words "or first instalment thereof" are inserted; also, the words "on the advance" are repealed, and the words "on the amount advanced" are inserted in lieu thereof. rfhe followilJg provision is added to the said subsection:- Provided that, where during such period of five years aforesaid the borrower has at intervals obtained several advances from the Bank, the period during which interest only shall he calculated and paid on the second and every such subsequent advance shall not extend beyond the said period of five years ascertained in respect of the first of such advances.

AGRICULTURE. 6169 1914. Agriwlttlral Bank Act Amendment Act. In the first paragraph of subsection two of the said section, the words "the advance" are repealed, and the words "the balance of the advance authorised but not then drawn shall be deemed to be cancelled, and the amount which has then been advanced" are inserted in lieu thereof; also, the words "the whole advance" are repealed, and the words" the whole amount advanced" are inserted in lieu thereof. rrhe last paragraph of the said subsection is repealed. The following subsection is added to the said section:- (3.) 1'his section does not apply to any advance on the security of a mortgage of a grazing farm or grazing selection authorised after the first day of January, one thousand nine hundred and fifteen. 7. Section twenty-six of the Principal Act is repealed: Repeal of Provided that such repeal shall not in any vvay affect or s. 26. prejudice any advance made by the Bank before the first day of January, one thousand nine hundred and fifteen, upon the security of a mortgage of a grazing farm or grazing homestead, or any right which the Managing Director has under the said section with respect to the extension of the term of the lease thereof or to a new lease thereof for securing repayment of the advance. with interest thereon; and such section shall for the said purpose continue in force. The following section is inserted in the Principal Act in lieu of the said section twentv-six, and shall come into operation on the first day of Ja~ uary, one thousand nine hundred and fifteen :- [26.] Notvrithstanding anything in this Act contained, Provisi.Oll as an advance shall not be made on the security of a mort- ~~ l~~ :i~ l~; ' gage of a grazing farm or grazing homestead, except on the following conditions ;- (£t) rrhe advance secured by the mortgage, with interest thereon at the rate of five pounds per centum per annum, shall be repaid within a term to be specitied therein and ending not later than the date on which the lease will expire by effiuxion of time; (b) The advance, with interest at the rate afore- said, shall be repaid by the borrower to the Managing Director within the term so specified by payment, on the first day of January and'

6170 AGRWULTURE. Agricultural Bank Act Amendment Act. 5 GEO. V. No. 14, 1914. Insurance Fund. the first day of July in each year, of half- yearly instalments of such amount per centum on the amount advanced as will ensure that the whole amount advanced, 'with interest at the rate aforesaid, will be repaid within the term so specified; (c) In the event of the determination of the term of the lease for any reason other than by effiuxion of time, the whole amount of the advance with interest at the rate aforesaid then remaining unpaid shall forthwith, 'without any demand or any legal proc('ss whatsoever, he and hecome repayable, and, notwithstanding anything con- tained in "'!'hp Land Act of 1910,'* the Managing Director shall have a fir"t charge against any improvements then on the land, or the value thereof if paid by an incoming selector, for the purpose of liquidating the amount then remaining unpaid; (d) The advance may, at the option of the horro'wer, be repaid at any time sooner than the time so specified and in larger instalments; (e) The memorandum of mortgage may contain such provisions, stipulations, and covenants as will give effect to the foregoing provisions and otherwise ensure the repayment of the said advance. 8. Aftet' section thirty-five of the Principal Act, the following section is inserted:- [35A. ] 'rhe Trustees may carry on insurance business, and may for that purpose enter into contracts with borrowers for the insurance, until the repayment in full of advances, of buildings and other iml)rovements against fire, storm, tempest, or other disaster in consideration of the payment of premiums at prescribed rates. In such case the Trustees shall establish a fund to he called" The Insurance Fund." All premiums paid to the Trustees in respect of insurance shall be carried to the credit of such .Fund, and such Fund shall be charged with the payment of all sums due under policies of insurance effected with the 'rrustees, and also with all expenses of or in connection with the carrying on of the insurance business of the 'l'l'ustees : * 1 Geo. V. No. 15, 'upra, p. 1347.

AGRICULTURE. 6171 1) GEO. Y. No. 36, 1914. Co-operative Agricultural Prod1lction Act. Provided that, in the event of the amount to the credit of the Ins~ rance Fund being at any time insufficient to pay all liabilities and expenses as aforesaid, the deficiency sh111 be made good out of the Consolidated Revenue, which is hereby appropriated for the purpose. 9. In section thirty-six of the Principal Act, the Amendment words "officer of the Bank or other" are repealed; also, of s. 36. the words "officer or" are repealed. . 100 In section thirty-eight of the Principal Act, the Amendment words" Secretary for Agriculture" are repealed, and the of s. 38. words "Secretary for Public Lands" are inserted in lieu thereof. . 11. After subsection (i v.) of section thirty-nine of Amendment the Principal Act, the following subsection is inserted:- of s. 39. [iVA.J The management and control of the In- surance Fund of the Trustees; the fixing of rates of insurance; the form of insurance policies; the taking over of all current insur- ance policies when so directed by the Trustees; and all matters necessary or expedient for . the purpose of enabling the rrrustees to duly undertake the husiness of insurance. An Act to Provide for Advances in Aid of 5 Geo. V. No. 36. Co-operative Enterprise in Connection with THE the Manufacture and Storage of Primary COA·OGPREfRCAUTLI.VE Products of Agriculture. TURAL PROD{;CTIUl ACT OF 1914. -BE [ASSENTED TO 23RD DECEMBER, 1914.] it enacted by the King's Most Excellent Majesty, _ lly and with the advice and consent of the Legis- latiye Council and Legislative Assembly of Queensland in Parliament assembled, and hv the authority of the same, as follows :- . • 1. This Act may be cited as "The Co-operative Short title. Agricultural Production Act of 1914." . 2. In this Act, unless the context otherwise indicates,Interpreta. the following terms have the meanings set against them tion. respectively, that is to say:- " Co-opera t' lve Company" or " Company"-The CO'operah.ve joint stock company formed and registered company. under "The Companies Acts, 1863 to 1913,"* in connection with the works concerned; * 27 Vie. No. 4 and amending Acts, supra, pages 186 et seq. and 5829.