WHEAT ACQUISITION (UNDISTRIBUTED MONEYS).
No. 29 of
1958.
An Act to
provide for the application for the purposes of Wheat Research of certain
Moneys held by the Australian Wheat Board.
[Assented to 21st May, 1958.]
BE it enacted by the Queen’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
(Undistributed Moneys) Act 1958.
Commencement.
2.This
Act shall come into operation on the day on which it receives the Royal Assent.
Interpretation.
3.—(1.) In this Act—
“the
Board” means the Australian Wheat Board constituted by the Wheat Industry Stabilization Act 1948 and continued in existence by
the Wheat Industry Stabilization Act 1954;
“the
Wheat Research Trust Account” means the Wheat Research Trust Account
established by the Wheat Research Act 1957.
(2.) For the purposes of this Act, the Australian
Capital Territory shall be deemed to be part of the State of New South Wales.
Board to pay certain undistributed moneys to
the Commonwealth.
4.The
Board shall, as soon as practicable after the commencement of this Act, pay to
the Commonwealth the sum of Two hundred and eighty-four thousand four hundred
and eighteen pounds, being so much of the amount of the credit balance shown in
the Undistributable Fractions Account kept in the books of the Board as relates
to wheat of seasons to which the National Security (Wheat Acquisition)
Regulations applied.
Appropriation for wheat research.
5.Upon
payment to the Commonwealth of the amount referred to in the last preceding
section, there shall be paid into the Wheat Research Trust Account, out of the
Consolidated Revenue Fund, which is appropriated accordingly, a sum equal to
that amount.
Apportionment amongst State accounts.
6.Such
part of the amount paid into the Wheat Research Trust Account in pursuance of
this Act as is equal to the amount specified opposite to the name of a State in
the Schedule to this Act shall, notwithstanding anything contained in section
six of the Wheat Research Act 1957,
be credited to the account kept in relation to that State in accordance with
sub-section (2.) of that section.
THE SCHEDULE.Section
6.
£
| New South Wales.............................................
| 98,776
| Victoria...........................................................
| 69,979
| South Australia................................................
| 54,366
| Western Australia.............................................
| 50,477
| Queensland......................................................
| 10,725
| Tasmania.........................................................
| 95
| 284,418
|
|