Agricultural Bank (Loans) Act Amendment Act 1981 (Qld)

8 1 ANNO TRICESIMO ELIZABETHAE SECUN DAE REGIS AE No. 15 of 1981 An Act to amend the Agricultural Bank (Loans) Act 1959-1980 in certain particulars and for other purposes [ASSENTED TO 14TH APRIL. 1981

82 Agricultural Bank (Loans) Act Amendment Act 1981, No. 15 BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:- 1. Short title and citation . (1) This Act may be cited as the Agricultural Bank (Loans) Act Amendment Act 1981. (2) In this Act the Agricultural Bank (Loans) Act 1959-1980 is referred to as the Principal Act. (3) The Principal Act as amended by this Act may be cited as the Agricultural Bank (Loans) Act 1959-1981. 2. Amendment of s. 10 . Bank may make indeterminate advances. (1) Section 10 of the Principal Act is amended in subsection (1) by inserting after provision (e) the following expression and words:- (f) a person, other than a body corporate, or a proprietary company incorporated under the Companies Act 1961-1979 who or which carries on a business of providing goods or services to primary producers in an area affected by drought or flood, the profitability of which business having been adversely affected by reason of the effect of the drought or flood on primary producers ". (2) Any advance made or agreed to be made by The Corporation of the Agricultural Bank after 21 October 1980 and prior to the commencement of this Act which advance would have been authorized by section 10 of the Principal Act as amended by subsection (1) if made or agreed to be made after that commencement shall be; and it is declared, always was an advance authorized by section 10 of the Principal Act.