Wheat Industry Stabilization Fund (Disposal) Act 1962 (Cth)

WHEAT INDUSTRY STABILIZATION FUND (DISPOSAL).

No. 80 of 1962.

An Act to provide for the Disposal of the Moneys standing to the credit of the Wheat Industry Stabilization Fund established by the Wheat Industry Assistance Act 1938.

[Assented to 12th December, 1962.]

[Date of commencement, 9th January, 1963.]

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 Industry Stabilization Fund (Disposal) Act 1962.

Definition.

2. In this Act, “the Fund” means the Fund established by the Wheat Industry Assistance Act 1938 under the name of the Wheat Industry Stabilization Fund.

Disposal of Fund.

3.—(1.) The moneys standing to the credit of the Fund immediately before the commencement of this Act shall be distributed by way of financial assistance to the States specified

 

in the Schedule to this Act, and the amount payable to each such State is the amount specified in that Schedule opposite to the name of the State.

(2.) The financial assistance to a State under this Act is granted on the conditions that—

(a) the amount paid to the State will be expended by the State, in accordance with a scheme approved by the Minister, for one or both of the following purposes:—

(i) the carrying out of research for the benefit of the wheat industry; and

(ii) the making available to wheat growers of information and advice in relation to the production of wheat;

(b) the State will furnish to the Minister a statement showing in detail the manner in which the amount paid to the State has been expended.

THE SCHEDULE. Section 3.

 

State.	Amount.
£
New South Wales..............................................................................	117,961
Victoria............................................................................................	55,120
Queensland.......................................................................................	15,977
South Australia.................................................................................	39,143
Western Australia..............................................................................	38,078