An Act to amend the Grain Marketing Act 1991 to limit the application of the Act to certain coarse grains and oilseeds, to provide for the cessation of the vesting of such grains and oilseeds in the New South Wales Grains Board in 2005 and to limit the liability of administrators of the Board; and for other purposes.
This Act is the Grain Marketing Amendment Act 2001.
This Act commences on the date of assent to this Act.
The Grain Marketing Act 1991 is amended as set out in Schedule 1.
(Section 3)
Omit “coarse grains and oilseeds”.
Insert instead “barley, canola and grain sorghum”.
Omit the definitions of
Omit the definition. Insert instead:
(a) barley,
(b) canola,
(c) grain sorghum.
Insert after section 3 (2):
For the purposes of this Act, a commodity comes into existence at the time that the crop that bears the commodity concerned is harvested and severed from the land.
See Australian Coarse Grains Pool Pty Ltd v Barley Marketing Board(1985) 157 CLR 605.
Omit the subsection.
Omit Division 3.
Omit section 24 (5).
Omit “, as certified from time to time by the Minister,”.
Omit “, as certified from time to time by the Minister,” from section 31 (4).
Omit “coarse grains and oilseeds”. Insert instead “commodities”.
Insert after section 34 (4):
The Board may not:
(a) enter into an arrangement under this section on or after 1 October 2005, or
(b) enter into an arrangement under this section that relates (either in whole or in part) to any commodity that comes into existence on or after that date.
Omit the section. Insert instead:
A commodity is absolutely vested in and is the property of the Board at the time that the commodity comes into existence.
Subsection (1) does not apply to a commodity referred to in section 34 (3), but on delivery of any such commodity in accordance with the relevant arrangement, the commodity is, unless the arrangement otherwise provides, absolutely vested in and is the property of the Board.
Any commodity vested in the Board by the operation of subsection (1) or (2) and accepted by the Board is so vested freed from all mortgages, charges, liens, pledges, interests and trusts affecting it, and the rights and interests of every person in the commodity are converted into a claim for payment for the commodity…