Wheat Pool Act Amendment Act 1961 (WA)

1961.] Wheat Pool. [No. 67.

WHEAT POOL.

10° Elizabeth II., No. LXVII.

No. 67 of 1961.

AN ACT to amend the Wheat Pool Act, 1932-1956.

[Assented to 28th November, 1961.]

HE it enacted by the Queen's Most Excellent

Majesty, by and with the advice and consent

of the Legislative Council and the Legislative

Assembly of Western Australia, in this present

Parliament assembled, and by the authority of the

same, as follows:—

1. (1) This Act may be cited as the Wheat Pool	Short title
and citation.

Act Amendment Act, 1961.

(2) In this Act the Wheat Pool Act, 1932-1956, is

referred to as the principal Act.

(3) The principal Act as amended by this Act

may be cited as the Grain Pool Act, 1932-1961.

No. 67.] Wheat Pool. [1961.

s.2

amended.	2. Section two of the principal Act is amended by adding after the word, "wheat" in the interpretation, "Growers", the words, "or oats".
s.15

amended. 3. Section fifteen of the principal Act is

amended

(a) by adding after paragraph (e) of subsection (5), a paragraph as follows

(ea) To act as Trustee of any reserve fund or funds, established or held by the corporation in relation to or arising out of the pooling of oats pursuant to this Act and to amalgamate all or any of those reserve funds if the corporation thinks it necessary or expedient to do so, with the same powers of investment in respect of the moneys forming part of those reserve funds or the accumulations thereof as are conferred on the corporation by paragraph (e) of this subsection in relation to the reserve funds or the accumulations thereof mentioned in that paragraph. ;

(b)	by adding after the word, "wheat" where it occurs in lines three, five, seven and ten of paragraph (f) of subsection (5), the words, "or oats";
(c)	by adding after the word, "funds" in line one of paragraph (g) of subsection (5), the words, "established or held in relation to or arising out of the pooling of wheat"; and
(d)	by adding after paragraph (g) of subsection (5) the following paragraph-

(ga) To apply all such reserve funds

established or held in relation to or

arising out of the pooling of oats,

1961.] Wheat Pool. [No. 67.

and the accumulations thereof, and the investments representing the same in such manner as the Trustees may in their absolute discretion consider beneficial to the growers, including, growers of other grain, in the State, and in such other manner as the corporation may be authorised to do pursuant to contracts made with the contribu- tors to any of those funds, and for purchase of shares in any company whose activities relate to the handling, s h i p p i n g, delivering, marketing or treating of wheat, oats, or other grain, or that is in any way connected therewith, whether in The Commonwealth or elsewhere, and for the purchase or acquisition of plant or machinery for handling, reconditioning, storing and for treating wheat, oats or other grain.