Farm Water Supplies Assistance Act Amendment Act of 1963 (Qld)

285 t ueettSlau ANNO DUODECIMO ELIZABETHAE SECUNDAE REGINAE No. 45 of 1963 An Act to Amend " The Farm Water Supplies Assistance Act of 1958 " in certain particulars [ASSENTED TO 20TH DECEMBER, 1963] 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. (1) Short title . This Act may be cited as " Te Farm Water Supplies Assistance Act Amendment Act of 1963." (2) Principal Act. " The Farm Water Supplies Assistance Act of 1958 " is in this Act referred to as the Principal Act. (3) Collective title. The Principal Act and this Act may be collectively cited as " The Farm Water Supplies Assistance Acts, 1958 to 1963."

286 Farm Water Supplies Assistance Act Amendment Act of 1963, No. 45 2. Amendments of s. 6 . Section six of the Principal Act is amended by- (a) in subsection (1) omitting the words " on such terms and conditions, including conditions respecting the term of the loan and interest thereon, as the Bank determines and (b) in subsection (2) omitting the second paragraph and inserting in its stead the following paragraph :- The Bank shall have and may exercise with respect to any advance under this Act made by it, and any and every security taken by it in relation to such advance, all such powers, rights, remedies and protection as it has in respect of a like advance under " The Co-ordination of Rural Advances and Agricultural Bank Acts, 1938 to 1951;" or, according to the terms and conditions of the advance, under those Acts and " The Agricultural Bank (Loans) Act of 1959," and all of the provisions of such Acts shall, with and subject to all necessary adaptations, apply and extend accordingly." 3. Amendment of s. 17. Section seventeen of the Principal Act is amended by omitting subsections (2) and (3) of section seventeen and inserting in their stead the following subsections:- (2.) There shall be paid into the Fund- (a) All moneys borrowed by the Bank for the purposes of this Act; (b) All moneys received by the Bank in respect of the repayment of advances made under this Act, and the payment of interest thereon, or received by the Bank otherwise howsoever; (c) All moneys appropriated by Parliament for the purposes of this Act. (3) There shall be paid out of the Fund- (a) All advances made by the Bank under this Act; (b) All moneys payable by the Bank in respect of the repayment of loans borrowed by the Bank for the purposes of this Act, 'and the payment of interest thereon; (c) All expenses incurred by the Bank in respect of advances under this Act." 4. New s. 17A inserted . The Principal Act is amended by inserting after section seventeen, the following section:- " [17A.] Power of Bank to borrow money . For the purpose of enabling it to carry on the business of making advances under this Act the Bank may borrow money and the provisions, with respect to the borrowing of money by the Bank, of " The Co-ordination of Rural Advances and Agricultural Bank Acts, 1938 to 1951," shall, with and subject to all necessary adaptations apply and extend accordingly.

Farm Water Supplies Assistance Act Amendment Act of 1963, No. 45 287 Without limiting the generality of those provisions of " The Co- ordination of Rural Advances and Agricultural Bank Acts , 1938 to 1951," with the prior approval of the Governor in Council , the Bank may from time to time borrow money by the sale of debentures , bonds or inscribed stock , or partly in one way and partly in another way or other ways."