Re-establishment and Employment (Allowances and Loans--Agricultural Occupations) Regulations (Amendment) (Cth)

STATUTORY RULES.

1946. No. 180.

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REGULATION UNDER THE RE-ESTABLISHMENT AND EMPLOYMENT ACT 1945.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the Re-establishment and Employment Act 1945.

Dated this eleventh day of December, 1946.

HENRY

Governor-General.

By His Royal Highness’s Command,

JOHN J. DEDMAN

Minister of State for Post-war Reconstruction.

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Amendment of the Re-establishment and Employment (Allowances and Loans—Agricultural Occupations) Regulations. 

Regulation 4 of the Re-establishment and Employment (Allowances and Loans—Agricultural Occupations) Regulations is repealed and the following regulation inserted in its stead:—

Interest on Loans.

“4.—(1.) For the purpose of ascertaining the rate of interest on a loan or portion of a loan made under Division 3 of Part VI. of the Act to any one eligible person in respect of an agricultural occupation, whether before or after the commencement of this regulation—

(a) the amounts of all such loans shall be added to the amounts of all other loans under the Act and of all loans under the Australian Soldiers’ Repatriation Regulations made or granted to that person and—

(i) if the aggregate amount does not exceed Fifty pounds, interest shall not be charged;

(ii) if the aggregate amount exceeds Fifty pounds, but does not exceed Two hundred and fifty pounds, interest shall be charged at the rate of two per centum per annum on so much of the aggregate amount as exceeds Fifty pounds; and

 

* Notified in the Commonwealth Gazette on 12th December, 1946.

  Statutory Rules 1945, No. 182, as amended by Statutory Rules 1946, No. 5.

6329.—Price 3d.

(iii) if the aggregate amount exceeds Two hundred and fifty pounds, interest shall be charged—

(1) on the first Two hundred pounds in excess of Fifty pounds, at the rate of two per centum per annum; and

(2) on so much of the aggregate amount as exceeds Two hundred and fifty pounds, at the rate of three and three-quarters per centum per annum; and

(b) each loan included in the aggregate amount shall be apportioned in relation to the aggregate amount in the order of its making or granting and the appropriate rate or rates of interest (if any) on the loan or portions of the loan fixed, in accordance with the last preceding paragraph, accordingly.

“(2.) For the purposes of this regulation—

(a) any reference to other loans under the Act shall be read as a reference to loans within the meaning of the Re-establishment and Employment (Allowances and Loans) Regulations; and

(b) any reference to loans under the Australian Soldiers’ Repatriation Regulations shall be read as a reference to loans within the meaning of regulation 53 of those Regulations.”.

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By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.