Canned Fruits Export Marketing Act 1968 (Cth)

Canned Fruits Export Marketing

No. 37 of 1968

An Act to amend the Canned Fruits Export Marketing Act 1963-1966 in relation to the making of Advances to the Australian Canned Fruits Board.

[Assented to 18 June 1968]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Canned Fruits Export Marketing Act 1968.

(2.) The Canned Fruits Export Marketing Act 1963-1966 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the Canned Fruits Export Marketing Act 1963-1968.

Commencement.

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Power of Board to purchase canned fruits for export.

3.—(1.) Section 18 of the Principal Act is amended by omitting sub section (3.).

 

(2.) The amendment made by the last preceding sub-section does not affect any arrangement made, or guarantee given, under sub-section (3.) of section 18 of the Principal Act.

4.After section 28 of the Principal Act the following section is inserted:—

Advances to the Board.

“28a.—(1.) With the concurrence of the Treasurer, the Minister may arrange with the Reserve Bank of Australia for the making by the Bank of advances to the Board for use by the Board in or in connexion with the performance of its functions or the exercise of its powers under this Act, and may, for and on behalf of the Commonwealth, guarantee the repayment to the Bank of any advance made by the Bank in pursuance of the arrangement and the payment to the Bank of interest on any such advance.

“(2.) The Board shall credit to the Canned Fruits Excise Fund all advances made to it in pursuance of an arrangement under this section and shall apply moneys standing to the credit of that Fund for the purposes of all repayments of, and payments of interest on, such advances.”.