Agricultural Bank (Loans) Act and Another Act Amendment Act 1980 (Qld)

106 ANNO VICESIMO NONO ELIZABETHAE SECUNDAE REGINAE No. 11 of 1980 An Act to amend the Agricultural Bank (Loans) Act 1959-1979 and the Co-ordination of Rural Advances and Agricultural Bank Act 1938-1979 each in certain particulars and for other purposes [ASSENTED TO 24TH APRIL, 1980]

Agricultural Bank ( Loans ) Act and Another Act Amdt Act 1980, No. 11 107 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:- PART I-PRELIMINARY 1. Short title and citation . This Act may be cited as the Agricultural Bank (Loans) Act and Another Act Amendment Act 1980. 2. Arrangement . This Act is divided into Parts as follows:- PART I-PRELIMINARY; PART 11-AMENDMENTS OF THE AGRICULTURAL BANK (LOANS) ACT 1959-1979; PART 111-AMENDMENTS OF THE CO-ORDINATION OF RURAL ADVANCES AND AGRICULTURAL BANK ACT 1938-1979; PART IV-VALIDATING PROVISIONS-ORDERS IN COUNCIL; SCHEDULE. PART II-AMENDMENTS OF THE AGRICULTURAL BANK (LOANS) ACT 1959-1979 3. Citation. (1) In this Part the Agricultural Bank (Loans) Act 1959-1979 is referred to as the Principal Act. (2) The Principal Act as amended by this Part may be cited as the Agricultural Bank (Loans) Act 1959-1980. 4. Amendment of s. 2. Section 2 of the Principal Act is amended by- (a) omitting the definition " Company " and the definition" Works "; (b) omitting the definition " Farm land " and substituting the following definition:- "Farm land "-Land used or about to be used for primary production;"; (c) inserting after the definition "Minister" the following definition:- " " Primary producer "-A person, engaged in the occupation of- (a) dairy farmer; or (b) wheat, maize, or cereal grower; or (c) cane grower; or (d) fruit grower; or (e) grazier; or (f) bee keeper; or (g) farmer, whether engaged in general or mixed farming, cotton, potato, or vegetable growing, or poultry or pig raising; and (h) any other occupation whatever declared by the Governor in Council, by Order in Council, to be primary production for the purposes of this Act; and " Primary production " has a correlative meaning;".

108 Agricultural Bank (Loans) Act and Another Act Amdt Act 1980, No. 11 5. Amendment of s. 4. Section 4 of the Principal Act is amended in subsection (I) by omitting the words " Secretary thereof " and substituting the words " Assistant General Manager ". 6. Amendment of s. 5. Section 5 of the Principal Act is amended by in-subsection (2), in paragraph (b) omitting the words " company, commodity board, or owner or occupier of farm land or other person " and substituting the words " person, board, association or other body ". 7. Amendment of s. 10. Section 10 of the Principal Act is amended in subsection (I) by omitting paragraphs (a), (b), (c) and (d) and substituting the following paragraphs:- (a) a person, other than a body corporate, who is a primary producer; (b) a proprietary company incorporated under the Companies Act 1961-1978, which carries on the business of primary production ; (c) a primary producers' co-operative association registered under the PrimaryProducers'Co-operativeAssociationsAct1923-1979; (d) a commodity board; (e) a society registered under the Co-operative and Other Societies Act 1967-1978 which carries on the business of primary production.". 8. Repeal of s. 11. The Principal Act is amended by repealing section 11. 9. Repeal of and new s. 12. The Principal Act is amended by omitting section 12 and substituting the following section:- " 12. Interest . (1) In respect of an advance under this Act, interest shall be payable to the Bank on moneys for the time being owing or remaining unpaid at such rate or rates per centum per annum as shall from time to time be prescribed in respect thereof by Order in Council. The Governor in Council may, from time to time by one or more than one Order in Council prescribe either generally or in respect of particular advances or classes of advances different rates per centum per annum of the interest payable in respect of advances made under this Act. (2) (a) The Governor in Council may from time to time, by Order in Council, vary the rate per centum per annum of the interest payable in respect of any advance made under this Act by increasing above or reducing below the rate fixed by the preceding Order in Council. (b) An Order in Council made under this subsection shall come into •force on the date of the publication thereof in the Gazette or, if a later date is specified therein, on that date and shall continue in force until and including the day next preceding the date when the next following such Order in Council comes into force.

Agricultural Bank (Loans) Act and Another Act Amdt Act 1980, No. I I 109 (c) Where immediately prior to the commencement of the Agricultural Bank (Loans) Act and Another Act Amendment Act 1980 a prescribed rate of interest per centum per annum is in force in respect of advances made under this Act, that rate shall continue in force until varied as provided for in this subsection. (3) Interest shall be calculated from the date or, where the advance is made by instalments, the dates when the advance or, as the case may be, instalments are made and shall accrue from day to day and be payable at six monthly intervals commencing on a date determined in each case by the Bank or if not so determined on 31 December and 30 June in each and every year.". 10. Repeal of ss. 13, 14 and 15. The Principal Act is amended by repealing sections 13, 14 and 15. 11. Amendment of s. 17. Section 17 of the Principal Act is amended in subsection (1) by omitting the word " company " and substituting the words " proprietary company, primary producers' co-operative association, or society referred to in section 10 ". 12. Amendment of s. 21. Section 21 of the Principal Act is amended by- (a) omitting the word " Secretary " where it twice occurs and substituting the words " Assistant General Manager " in each case; (b) omitting the words " license pursuant to the provisions of " The Auctioneers and Commission Agents Acts, 1922 to 1953 " " and substituting the words " licence under the Auctioneers and Agents Act1971-1978 ". 13. Amendment of s. 22. Section 22 of the Principal Act is amended in subsection (1) by omitting the word " Secretary " where is occurs four times and substituting the words "Assistant General Manager " in each case. 14. Repeal of s. 23. The Principal Act is amended by repealing section 23. PART III-AMENDMENTS OF THE CO-ORDINATION OF RURAL ADVANCES AND AGRICULTURAL BANK ACT 1938-1979 15. Citation . (1) In this Part the Co-ordination of Rural Advances and Agricultural Bank Act 1938-1979 is referred to as the Principal Act. (2) The Principal Act as amended by this Part may be cited as the Co-ordination of Rural Advances and Agricultural Bank Act 1938-1980. 16. Amendment of s. 5. Section 5 of the Principal Act is amended by omitting the word " Secretary " and substituting the words "Assistant General Manager ".

110 Agricultura Bank (Loans) Act and Another Act Arndt Act 1980, No. 11 17. Amendment of s. 5A. Section 5A of the Principal Act is amended by omitting the words " (except this power of delegation) ". 18. Amendment of s. 9. (1) Section 9 of the Principal Act is amended by- (a) in subsection (1), omitting paragraph (ii) and substituting the following paragraph:- "(ii) A person to be the Assistant General Manager of the Corporation of the Agricultural Bank (herein referred to as " the Assistant General Manager ") ;" ; (b) inserting after subsection (5) the following subsection:- "(5A) (a) The General Manager may, either generally or otherwise as provided by the instrument of delegation, by instrument in writing under his hand, delegate to the Assistant General Manager, District Manager or any other officer all or any of his powers, functions, authorities and duties under subsection (5) as may be specified in the instrument of delegation (other than this power of delegation). (b) A power, function, authority or duty the exercise or performance of which has been delegated under this section may, while the delegation remains unrevoked, be exercised or performed in accordance with the terms of the delegation by the delegate to whom the exercise or performance thereof has been delegated. (c) A delegation may be made subject to such conditions or such limitations as to the exercise or performance of any of the powers, functions, authorities or duties delegated or as to time, place or circumstances as may be specified in the instrument of delegation. (d) Where the exercise or performance of a power, function, authority or duty of the General Manager is dependent upon the opinion, belief or state of mind of the General Manager in relation to any matter, that power, function, authority or duty may be exercised or performed by the delegate upon the opinion, belief or state of mind of the delegate in relation to that matter. (e) Any act or thing done or suffered by a delegate while acting in the exercise of a delegation under this section has the same force and effect as if the act or thing done had been done or suffered by the General Manager. (f) A delegation under this section is revocable by the General Manager at his will. (g) A delegation under this section does not prevent the exercise or performance of a power, function, authority or duty by the General Manager. (h) The General Manager may make such and so many delegations under this section and to such number of delegates as he considers necessary or desirable."; (c) in subsection (6) omitting the word " Secretary " where it twice occurs and substituting the words "Assistant General Manager " in each case.

Agricultural Bank (Loans) Act and Another Act Amdt Act 1980, No. 11 111 (2) (a) It is hereby declared that the person who, immediately before the commencement of this Act, held, under and in accordance with the Public Service Act1922-1978 the position of General Manager, Agricultural Bank, Brisbane is and was from the date of his appointment to that position the General Manager of the Corporation of the Agricultural Bank for the purposes of the Principal Act. (b) It is hereby declared that the person who immediately before the commencement of this Act, held, under and in accordance with the Public Service Act1922-1978 the position of Secretary and Assistant General Manager, Agricultural Bank, Brisbane- (i) was from the date of his appointment to that position the Secretary to the Corporation of the Agricultural Bank for the purposes of the Principal Act; and (ii) upon the commencement of this Act shall cease to hold the position of the Secretary to the Corporation of the Agricultural Bank and without further or other appointment shall hold the office of Assistant General Manager of the Corporation of the Agricultural Bank under and in accordance with the Public Service Act1922-1978. (3) Upon the commencement of this Act any reference in any Act, Proclamation, Order in Council, regulation, approval, authority, permit, direction, determination, order, prohibition or other act of executive or administrative authority or in any agreement, contract, deed or other document, instrument or writing whatsoever before the commencement of this Act to the Secretary to the Corporation of the Agricultural Bank shall, on and from such commencement, be read and construed as referring to the Assistant General Manager of the Corporation of the Agricultural Bank and shall operate and have effect accordingly. 19. Amendment of s. 10. Section 10 of the Principal Act is amended by omitting the word " Secretary " and substituting the words "Assistant General Manager ". 20. Amendment of s. 15. Section 15 of the Principal Act is amended in subsection (4) by- (a) relettering paragraphs (b), (c) and (d) as paragraphs (c), (d) and (e) respectively; (b) omitting paragraph (a) and substituting the following paragraphs:- (a) providing for the establishment of a registry or registries (at the office of the Bank or at any other place or places) for the inscription of stock created and issued in respect of public loans or private loans or public loans and private loans and the keeping of stock ledgers, regulating the inscription in such stock ledgers of stock issued or of any shares therein, and restricting the amount of stock that may be transferred; (b) prescribing the form of debentures and of bonds, providing for the keeping and inspection of and the taking of copies of or extracts from the register of debentures and bonds or from

112 Agricultural Bank (Loans) Act and Another Act Arndt Act 1980, No. 11 any stock ledgers, and making provision for lost or defaced debentures or bonds and the destruction of discharged debentures or bonds; ". 21. Amendment of s. 38. Section 38 of the Principal Act is amended by- (a) omitting the word " Secretary " where it twice occurs and substituting the words "Assistant General Manager " in each case; (b) omitting the words " " The Auctioneers and Commission Agents Acts, 1922 to 1936 " " and substituting the words " the Auctioneersand Agents Act1971-1978 22. Amendment of s. 39. Section 39 of the Principal Act is amended in subsection (1) by- (a) omitting the word " Secretary " where it thrice occurs and substituting the words "Assistant General Manager " in each case; (b) omitting the word secretary " and substituting the words "Assistant General Manager ". PART IV-VALIDATING PROVISIONS-ORDERS IN COUNCIL 23. Validation in relation to certain Orders in Council. (1) It is hereby declared that each Order in Council specified in Part.A of the Schedule and published in the Gazette on the date and at the page set out in that Part and purporting to be made in the exercise of powers conferred by or under The Agricultural Bank (Loans) Act of 1959 is and always was validly made and took effect from the date specified therein. (2) It is hereby declared that each Order in Council specified in Parts B and C of the Schedule in respect of Inscribed Stock the number of which is set out in those Parts, each Order in Council having been published in the Gazette on the date and at the page set out in those Parts, and purporting to be made in the exercise of powers conferred by or under the Agricultural Bank (Loans) Act 1959-1974 and the Local Bodies' Loans Guarantee Act 1923-1975 is and always was validly made. (3) For the purposes of this subsection the Governor in Council may by Proclamation appoint a day to be the " appointed day ". Where- (a) the Governor in Council- (i) at any time prior to the appointed day whether before or after the commencement of this Act by Order in Council duly authorizes; or (ii) prior to the commencement of this Act by the Orders in Council specified in Part C or D of the Schedule which Orders in Council have been published in the Gazette on the date and at the page set out in that Part has duly authorized, The Corporation of the Agricultural Bank to borrow money; and

Agricultural Bank ( Loans ) Act and Another Act Amdt Act 1980, No. 11 113 (b) The Corporation of the Agricultural Bank, prior to the publication in the Gazette of the relevant Order in Council, borrows or has borrowed money from a bank, financial institution, body corporate or unincorporate or person (hereinafter in this section referred to as the lender) by the sale of inscribed stock, and purports or has purported to borrow such money pursuant to the authority of the Governor in Council in respect thereof; and (c) the Treasurer on behalf of the Government agrees or has agreed to guarantee and guarantees or has guaranteed or purports or has purported to guarantee or is deemed by law (or would be or have been deemed by law if the procedure prescribed by law preparatory to borrowing the money is or had been duly followed) to guarantee or have guaranteed to the lender the amount or any part of the amount so borrowed with interest thereon at the agreed rate limited however to such amount and to such period of time and subject to such other terms, reservations and conditions as the Governor in Council may prescribe or may have prescribed by the Order in Council made in respect of such borrowing, then, notwithstanding that the Order in Council by which the Governor in Council authorizes or has authorized The Corporation of the Agricultural Bank to borrow money as aforesaid is or was published in the Gazette after the date of such borrowing- (d) the borrowing of money as aforesaid shall not be unlawful by reason only that it occurs or occurred prior to the publication in the Gazette of the Order in Council in question and it is declared that such borrowing is and shall be deemed always to have been a lawful borrowing authorized by that Order in Council as if the Order in Council had been published in the Gazette prior to the date of such borrowing; and (e) the inscribed stock sold and the inscription in its stock register (by whatever name called) of the owner of that stock by The Corporation of the Agricultural Bank in respect of the amount borrowed shall not be invalid or of no effect by reason only that the inscribed stock is or was sold prior to the publication in the Gazette of the Order in Council in question and it is declared that such inscribed stock shall be deemed always to have been as validly and duly sold and inscribed as if sale had occurred after such publication; and (f) the guarantee by the Treasurer on behalf of the Government to the lender shall not be invalid or of no effect by reason only that the borrowing of money occurred prior to the publication in the Gazette of the Order in Council in question or that the inscribed stock sold by The Corporation of the Agricultural Bank in respect of the amount borrowed is or was sold prior to such publication, and it is declared that such guarantee is and shall be deemed always to have been a valid and effective guarantee on and from such publication.

1 14 Agricultural Bank (Loans) Act and Another Act Amdt Act 1980, No. 1 I (4) It is hereby declared that , each Order in Council specified in Part E of the Schedule and published in the Gazette on the date and at the page set out in that Part and purporting to be made in pursuance of The Soil Conservation Act of 1965 is and always was validly made in the exercise of powers conferred by or under The Agricultural Bank (Loans ) Act of 1959 and took effect from the date specified therein. Those Orders in Council shall be deemed to have been made in pursuance of The Agricultural Bank ( Loans ) Act of 1959. (5) It is hereby declared that each Order in Council specified in Part F of the Schedule and published in the Gazette on the date and at the page set out in that Part and purporting to be made in pursuance of The Farm Water Supplies Assistance Acts, 1958 to 1963 is and always was validly made in the exercise of powers conferred by or under The Agricultural Bank ( Loans ) Act of 1959 and took effect from the date specified therein . Those Orders in Council shall be deemed to have been made in pursuance of The Agricultural Bank ( Loans ) Act of 1959. SCHEDULE PART A Date of Order in Council Date of Publication in Gazette [s. 23 (1)] Page of Gazette 15 June 1961 1 March 1962 27 November 1969 6 August 1970 17 February 1972 9 August 1973 8 November 1973 1 August 1974 11 November 1976 18 October 1979 17 June 1961 .. 3 March 1962 29 November 1969 8 August 1970 19 February 1972 11 August 1973 10 November 1973 3 August 1974 13 November 1976 20 October 1979 658 659 1359 1934 822 2679 1325 1917 1175 745 PART B 23 (2)] Date of Order in Council Date of Publication in Gazette Page of Gazette Number of Inscribed Stock 6 September 1979 13 September 1979 .. 8 September 1979 .. 15 September 1979 163, 100 164 251 105

Agricultural Bank ( Loans ) Act and Another Act Amdt Act 1980, No. 11 115 PART C [s. 23 (2) and (3)] Orders in Council under Agricultural Bank (Loans) Act 1959-1974 and Local Bodies' Loans Guarantee Act 1923-1975 Date of Order in Council Date of Publication in Gazette Page of Gazette Number of Inscribed Stock 1 December 1977 2 February 1978 31 August 1978 31 August 1978 12 October 1978 12 October 1978 8 February 1979 15 February 1979 29 March 1979 19 July 1979 19 July 1979 16 August 1979 30 August 1979 30 August 1979 30 August 1979 30 August 1979 27 September 1979 11 October 1979 11 October 1979 19 December 1979 10 January 1980 6 March 1980 3 December 1977 4 February 1978 2 September 1978 2 September 1978 14 October 1978 14 October 1978 10 February 1979 17 February 1979 31 March 1979 21 July 1979 21 July 1979 18 August 1979 1 September 1979 1 September 1979 1 September 1979 1 September 1979 29 September 1979 13 October 1979 13 October 1979 22 December 1979 12 January 1980 8 March 1980 1253 401, 402 21 21, 22 525, 526 526, 527 421 516 1221 1595 1595 2032 81 81 82 82 485, 486 629 630 1654 65, 66 807 63 67 76 77 84 85 90 93 94 97 98 99 101 102 103 104 106 109 110 116 118 119

116 Agricultural Bank (Loans) Act and Another Act Amdt Act 1980, No. II PART D [s. 23 (3)] Order in Council under The Soil Conservation Act of 1965 and the Co-ordinator of Rural Advances and Agricultural Bank Act 1938-1979 Date of Order in Council Date of Publication in Gazette Page of Gazette Number of Inscribed Stock 6 March 1980 8 March 1980 807 i PART E Date of Order in Council Date of Publication in Gazette 24 June 1965 27 November 1969 26 June 1965 29 November 1969 6 August 1970 17 February 1972 9 August 1973 8 November 1973 1 August 1974 11 November 1976 20 April 1978 (shown in Gazette as 1.1 April 1978) 18 October 1979 8 August 1970 19 February 1972 11 August 1973 10 November 1973 3 August 1974 13 November 1976 22 April 1978 .. 20 October 1979 [s. 23 (4)] Page of Gazette 1136 1358, 1359 1934 823 2679 1325 1915 1176 1628 744, 745

Agricultural Bank ( Loans) Act and Another Act Amdt Act 1980, No. 11 117 PART F [s. 23 (5)J Date of Order in Council Date of Publication in Gazette Page of Gazette 10 September 1964 24 June 1965 27 November 1969 6 August 1970 17 February 1972 9 August 1973 8 November 1973 1 August 1974 11 November 1976 20 April 1978 18 October 1979 12 September 1964 26 June 1965 29 November 1969 8 August 1970 19 February 1972 11 August 1973 10 November 1973 3 August 1974 13 November 1976 22 April 1978 . . 20 October 1979 97 1136 1359 1934 821 2680 1325 1916 1176 1628 744