Primary Industry Bank Regulations (Amendment) (Cth)

Statutory Rules 1984 No. 1081

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Primary Industry Bank Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Primary Industry Bank Act 1977.

Dated 8 June 1984.

N. M. STEPHEN

Governor-General

By His Excellency’s Command,

PAUL KEATING

Treasurer

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Rate of interest and maximum limit—sub-section 8 (3) of the Act

1. (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) Sub-regulation (1) shall be deemed to have come into operation on 1 July 1983.

Rate of interest and maximum limit—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 9.5 per cent per annum.”.

(2) Sub-regulation (1) shall come into operation on 1 July 1984.

notes

1. Notified in the Commonwealth of Australia Gazette on 14 June 1984.

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