| C2004C05151 | LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935 [Note: This Act is "repealed" by Act No. 158 of 1979]
(#DATE 25:05:1971)
Compilation Information
- Reprinted as at 25 May 1971
LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935-1971 - TABLE OF PROVISIONS
TABLE
LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935-1971
TABLE OF PROVISIONS
Section
1. Short title
2. Definitions
3-5. (Repealed)
6. Grants to States
7. Application of moneys paid under section six
7A. Additional purposes for which moneys may be used
7B. Payments by State of Tasmania for drought relief
8. Certificates of Auditors-General
9. (Repealed)
10. Protection of payments to creditors
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LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935-1971 - SECT. 1.
Short title.
SECT
provide for the Grant of Financial Assistance to the States in the making of
payments to or for the benefit of Farmers, and for other purposes.
Short title amended; No. 32, 1918, s. 2.
1. This Act may be cited as the Loan (Farmers' Debt Adjustment) Act
1935-1971.*
LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935-1971 - SECT. 2.
Definitions.
SECT
2. In this Act, unless the contrary intention appears-
''Farmer'' means any person who, being the owner, lessee or occupier of
land, is engaged, otherwise than as an employee, in farming operations on that
land, and includes the owner, lessee, or occupier of any land on which farming
operations are being carried on under a share farming agreement to which he is
a party, and the personal representatives of a deceased farmer;
''Farming operations'' means farming, agricultural, horticultural, pastoral
or grazing operations, and, without affecting the generality of the foregoing
provisions, includes dairy-farming, poultry-farming and bee-farming, and also
viticultural operations.
Sections 3-5 repealed by No. 80, 1950, S. 3.
* * * * * * * *
LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935-1971 - SECT. 6.
Grants to States.
SECT
6. (1) There shall, subject to this Act, be granted to the States specified
in this section, by way of financial assistance to those States, the amounts
respectively specified opposite the names of those States, for the purpose of
making payments to or for the benefit of farmers to enable them to make
compositions or schemes of arrangement with their creditors in respect of
their debts:-
New South Wales . . . . . . . . . . . . . . . . . . . . . . . . . . .
#3,450,000 Victoria. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. #2,500,000 Queensland. . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . #1,150,000 South Australia . . . . . . . . . . . . . . . . . . . . . . . .
. . . #1,300,000 Western Australia . . . . . . . . . . . . . . . . . . . . . .
. . . . #1,300,000 Tasmania. . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . #300,000
(2) In addition to the amounts granted in pursuance of the last preceding
sub-section, there shall, subject to this Act, be granted to the States
specified in that sub-section, by way of financial assistance, the amount of
Two million pounds for the purpose specified in that sub- section.
Amended by No. 8, 1936, s. 2.
(3) No grant shall be made under this Act to a State unless or until there
is in force in the State legislation which is declared by proclamation to be
legislation which affords farmers reasonable facilities for relief in respect
of debts owing by them.
(4) The amount granted in pursuance of sub-section (2) of this section shall
be apportioned among the several States so that the amount payable to any
State shall be such amount as bears to the sum of Two million pounds the same
proportion as the amount payable to that State in pursuance of sub-section (1)
of this section bears to the sum of Ten million pounds, unless, from
information furnished by the States or any of them, on or before the thirtieth
day of June, One thousand nine hundred and thirty-six, the Treasurer is of
opinion that such apportionment would not be reasonable and proper.
(5) Where the Treasurer, from information so furnished, is of opinion that
the apportionment prescribed in the last preceding sub- section would not be
reasonable and proper, the amount shall be apportioned in such manner as the
Treasurer after full consideration of all the circumstances, determines.
(6) The moneys payable to any State in pursuance of this Act shall be
payable in such instalments and at such times as the Minister thinks fit.
LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935-1971 - SECT. 7.
Application of moneys paid under section six.
SECT
Sub-section (1) amended by No. 62, 1971, s. 3.
7. (1) Any moneys granted to a State under the last preceding section shall
be paid upon the following conditions:-
(a) The moneys shall be used by the State, in pursuance of a scheme
authorized by or under the law of the State (in this section referred to as
''the State scheme''), for the purpose of discharging, in whole or in part,
the debts of farmers by means of compositions or schemes of arrangement
between farmers and any or all of their creditors;
(b) No payment of any of the moneys shall be made to or for the benefit of
any farmer unless, in the opinion of the authority administering the State
scheme, the farmer will have, as the result of any composition or scheme
arranged, a reasonable prospect of successfully carrying on farming
operations;
(c) No payment of any of the moneys shall be made to or for the benefit of
any farmer for the purpose of discharging, in whole or in part, any debt of
the farmer, unless in the opinion of the authority administering the State
scheme, some discharge of the debt is necessary to ensure that the farmer will
continue to carry on farming operations and to give him a reasonable prospect
of carrying on those operations successfully;
(d) If any of the moneys are advanced to or for the benefit of the farmer
and are repaid wholly or in part to the State, the moneys so repaid shall be
applied by the State for the purposes of the State scheme, and, for the
purposes of this section, shall be deemed to be moneys granted to the State
under this Act;
(e) No payment under a composition or scheme of arrangement shall be made
in respect of any debt due or accruing due to the Commonwealth or the State or
to a Governmental authority;
(f) No portion of the moneys shall be used for the payment of the expenses
incurred by the State in or in connexion with the application of the moneys;
(g) For the purpose of enabling the Auditor-General for the Commonwealth to
comply with the provisions of section eight of this Act, the State shall give
him access to all buildings, places, documents and papers of the State, and
shall permit him to make extracts from or copies of any such books, documents
or papers;
(h) Subject to the conditions prescribed in the foregoing provisions of
this section, the State shall undertake the complete administration and
distribution of the moneys; and
(i) That the State shall furnish to the Minister within fourteen days after
the first day of January and within fourteen days after the first day of July
of each year a certificate by the Auditor-General of that State as to the
compliance or otherwise by that State with the conditions specified in the
foregoing provisions of this section.
(2) For the purposes of paragraph (e) of the last preceding sub- section,
the expression ''Governmental authority'' includes any body, corporate or
unincorporate, constituted by or under the law of the Commonwealth or a State
whose funds have been provided in whole or in part, by the Commonwealth or a
State, or whose obligations are guaranteed, in whole or in part, by the
Commonwealth or a State, but does not include a municipal corporation or other
local governing body.
LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935-1971 - SECT. 7A.
Additional purposes for which moneys may be used.
SECT
Inserted by No. 62, 1971, s. 4.
7A. (1) Notwithstanding anything to the contrary in the last two preceding
sections, but subject to this section, moneys granted or deemed to be granted
to a State under this Act may be used by the State for the purposes for which
those moneys could lawfully be used if they had been paid to the State by the
Commonwealth under the States Grants (Rural Reconstruction) Act 1971.
(2) Notwithstanding anything to the contrary in paragraph (d) of sub-section
(1) of the last preceding section, where any moneys used by a State for the
purposes referred to in the last preceding sub-section are repaid wholly or in
part to the State, the moneys so repaid may be used by the State for those
purposes.
(3) In relation to moneys used for the purposes referred to in sub-section
(1) of this section-
(a) the conditions specified in paragraphs (a), (b), (c) and (d) of
sub-section (1) of the last preceding section do not apply;
(b) the condition specified in paragraph (i) of sub-section (1) of that
section applies as if the words ''the conditions specified in the foregoing
provisions of this section'' were omitted and the words ''the provisions of
section seven A of this Act'' were inserted in their stead; and
(c) section eight of this Act applies as if the provisions of this section
were conditions of the grant of those moneys.
LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935-1971 - SECT. 7B.
Payments by State of Tasmania for drought relief.
SECT
Inserted by No. 62, 1971, s. 4.
7B. Notwithstanding anything to the contrary in sections six and seven of
this Act, the amount of Two hundred and eighty-eight thousand dollars paid by
the State of Tasmania before the commencement of this section to farmers for
the purpose of relief of financial distress caused by drought shall, for the
purposes of this Act, be deemed to have been paid out of moneys granted or
deemed to be granted to that State under this Act and to have been used in
accordance with the conditions specified in section seven of this Act.
LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935-1971 - SECT. 8.
Certificates of Auditors-General.
SECT
Sub-section (1) substituted by No. 8, 1936, s. 3.
8. (1) As soon as possible after the commencement of each half-year, the
Auditor-General for the Commonwealth shall, in respect of each State, furnish
to the Minister a certificate stating whether or not during the last preceding
half-year there has been any breach by the State of the conditions of the
grant.
Inserted by No. 8, 1936, s. 3.
(1A) For the purposes of this section, the term ''half-year'' means
half-year ending on the thirtieth day of June or the thirty-first day of
December.
(2) If at any time it comes to the knowledge of the Auditor-General for the
Commonwealth that there has been a breach by a State of any condition of the
grant, the Auditor-General shall forthwith furnish to the Minister a
certificate stating particulars of the breach.
(3) If it appears to the Minister from any certificate furnished by the
Auditor-General for the Commonwealth or the Auditor-General of a State that a
State has committed a breach of any condition of the grant, the Minister may
direct that the amount granted to the State in pursuance of section six of
this Act be reduced by such amount as he thinks fit, and that amount shall be
reduced accordingly.
Section 9 repealed by No. 62, 1971, s. 5.
* * * * * * * * *
LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935-1971 - SECT. 10.
Protection of payments to creditors.
SECT
Amended by No. 62, 1971, s. 6.
10. A payment made to any creditor of a farmer, out of moneys granted or
deemed to be granted to a State under this Act, and in accordance with the
conditions upon which the moneys are granted, shall not be rendered void or
invalid by reason of any provisions of the Bankruptcy Act 1924-1933 or of the
Bankruptcy Act 1966 or that Act as amended from time to time.
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LOAN (FARMERS' DEBT ADJUSTMENT) ACT 1935-1971 - NOTE
NOTE
1. The Loan (Farmers' Debt Adjustment) Act 1935-1971 comprises the Loan
(Farmers' Debt Adjustment) Act 1935 as amended by the other Acts specified in
the following table:
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Number Date of
Act and year Date of
Assent commencement
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Loan (Farmers' Debt
Adjustment) Act 1935 No. 23, 1935 13 Apr 1935 13 Apr 1935
Loan (Farmers' Debt
Adjustment) Act 1936 No. 8, 1936 20 Mar 1936 S. 2: 13 Apr
1935
Remainder: Royal
Assent
Statute Law Revision Act
1950 No. 80, 1950 16 Dec 1950 31 Dec 1950
Loan (Farmers' Debt
Adjustment) Act 1971 No. 62, 1971 25 May 1971 25 May 1971
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