Primary Industry Bank Regulations (Amendment) (Cth)

Statutory Rules 1985 No. 1091

Primary Industry Bank Regulations2(Amendment)

I, THE ADMINISTRATOR of the Commonwealth of Australia, acting with the advice of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Primary Industry BankAct 1977.

Dated 13 June 1985.

JAMES RAMSAY

     Administrator

By His Excellency’s Command,

PAUL KEATING

Treasurer

 

Commencement

 1. (1)Sub-regulation 2 (1) shall be deemed to have come into operation on 1 July 1984.

 (2) Sub-regulation 2 (2) shall come into operation on 1 July 1985.

Maximum loan and rate of interest-sub-section 8 (3) of the Act

 2. (1)Regulation 3 of the Primary Industry Bank Regulations is amended by omitting paragraph (b) and substituting the following paragraph:

“(b)

interest that is to be payable in respect of loans made to the Bank in accordance with sub-section 8 (2) of the Act shall be at the rate of 7.5 per cent per annum.”.

 (2) Regulation 3 of the Primary Industry Bank Regulations is amended by omitting paragraph (b) and substituting the following paragraph:

“(b)

interest that is to be payable in respect of loans made to the Bank in accordance with sub-section 8 (2) of the Act shall be at the rate of 9.5 per cent per annum.”.

 

NOTES

1. Notified in the Commonwealth of Australia Gazette on 14 June 1985.

2. Statutory Rules 1978 No. 258 as amended by 1979 No. 184; 1980 No. 327; 1982 No. 28 and 1984 No. 108.