Wheat Acquisition Act 1933 (Cth)

 

WHEAT ACQUISITION.

 

No. 67 of 1933.

An Act to provide for the Acquisition of Wheat by the Commonwealth and for other purposes.

[Assented to 15th December, 1933.]

WHEREAS the Parliament of the Commonwealth has power to make laws for the peace, order and good government of the Commonwealth with respect to trade and commerce with other countries, and with respect to external affairs:

And whereas the trade and commerce in wheat between Australia and other countries is affected by any international arrangement relating to the export of wheat from wheat-producing countries:

 

And whereas at a Conference of representatives of various countries at which the Commonwealth of Australia was represented it was agreed to recommend to the Governments of the principal countries exporting wheat the restriction of the export of that commodity:

And whereas the Governments representing the principal countries exporting wheat have agreed to restrict the export of wheat in accordance with the recommendations of the Conference referred to in the last preceding paragraph:

And whereas it is desirable that for the purpose of giving effect, so far as the Commonwealth of Australia is concerned, to the agreement referred to in the last preceding paragraph, the Commonwealth should have power to purchase, store and sell any wheat which by reason of the operation of the agreement above referred to may not be exportable from the Commonwealth.

Be it therefore enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title.

1.This Act may be cited as the Wheat Acquisition Act 1933.

Definition.

2. In this Act, unless the contrary intention appears—

“the 1933–1934 season” means the year which commenced on the first day of August, One thousand nine hundred and thirty-three.

Purchase of surplus wheat.

3.If a surplus of wheat of the 1933–1934 season is declared in pursuance of this Act, the Commonwealth may, subject to this Act, purchase wheat of a quantity not exceeding in the aggregate the quantity of the surplus so declared.

Declaration of surplus wheat.

4.—(1.) The surplus of wheat (if any) of the 1933–1934 season shall be the quantity ascertained by the Commonwealth Statistician in accordance with this section and declared by him by notice in the Gazette.

(2.) For the purpose of the declaration of the surplus of wheat of the 1933–1934 season the Commonwealth Statistician shall estimate—

(a) the total quantity of wheat produced in Australia during the 1933–1934 season,

and if that quantity is greater than

(b) the sum of the quantity of wheat which he estimates will be required for consumption in Australia during the 1933–1934 season and one hundred and five million bushels,

the difference shall be the quantity which shall be declared by the Commonwealth Statistician in accordance with sub-section (1.) of this section as the surplus of wheat of the 1933–1934 season.

 

Price at which wheat shall be purchased.

5.The price which shall be paid by the Commonwealth for any wheat purchased by it under this Act shall be the world parity price of wheat at the date of purchase.

Sale of wheat.

6. The Commonwealth may, after the thirty-first day of July, One thousand nine hundred and thirty-four, sell any wheat purchased by it under this Act.

World parity price.

7.The world parity price of wheat on any date shall, for the purposes of this Act, be ascertained in such manner as is prescribed.

Arrangements with Commonwealth Bank for advances.

8.—(1.) The Minister may arrange with the Commonwealth Bank of Australia for the making by that bank of advances to the Commonwealth for the purposes of purchases of wheat effected by the Commonwealth under this Act, and may guarantee to that bank the repayment of any advance made by the bank in pursuance of the arrangement.

(2.) There shall be payable out of the Consolidated Revenue Fund, which is hereby appropriated accordingly, the amounts necessary to repay to the bank any amount due to it under a guarantee given to it in accordance with the last preceding sub-section.

Agreements as to storage, &c., of wheat.

9. The Minister may enter into such agreements as he thinks necessary to provide for the storage of any wheat purchased under this Act and to provide for any matter incidental to the purchase, storage or sale of any wheat so purchased.

Regulations.

10.