Primary Industry Bank Regulations (Amendments) (Cth)

Statutory Rules

1980 No. 327

REGULATION UNDER THE PRIMARY INDUSTRY BANK ACT 19771

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

Dated this twenty-ninth day of October 1980.

ZELMAN COWEN

Governor-General

By His Excellency’s Command,

JOHN HOWARD

Treasurer

Amendments of the Primary Industry Bank Regulations2

Prescribed maximum limit and prescribed rate of interest for the purposes of sub-section 8(3) of the Act

Regulation 3 of the Primary Industry Bank Regulations is amended —

• (a)

  by omitting from paragraph (a) “$75,000,000” and substituting “$101,000,000”; and

• (b)

  by omitting from paragraph (b) “of 5 per cent per annum” and substituting —

 “of —

• (i)

  5 per cent per annum in respect of loans made before 1 July 1980; and

• (ii)

  7 per cent per annum in respect of other loans”.

Notes

1. Notified in the Commonwealth of Australia Gazette on 31 October 1980.

2. Statutory Rules 1978 No. 258 as amended by Statutory Rules 1979 No. 184.