Meat Agreement (Deficiency Payments) Act 1964

Overview

The Meat Agreement (Deficiency Payments) Act 1964 was enacted by the Parliament of Australia to amend the Meat Agreement (Deficiency Payments) Act 1955-1956, addressing deficiencies in meat production and ensuring adequate compensation for shortfalls in meat export targets. The Act aims to provide a framework for making deficiency payments to licensed exporters when the export targets set by the Meat Agreement are not met. The policy objective is to stabilise the meat industry by financially supporting producers during periods of shortfall, thus maintaining industry viability and supporting the economy. This Act updates definitions and references to align with the Meat Industry Act 1964, ensuring that the legislative framework is current and effective in its operation.

Scope and Application

The Meat Agreement (Deficiency Payments) Act 1955-1964 applies to the holders of licenses granted under the Meat Industry Act 1964, specifically those who are licensed exporters of meat. The act also pertains to the Australian Meat Board, which is continued in existence by the Meat Industry Act 1964. The scope of the act is national, operating under the Commonwealth jurisdiction of Australia, and its provisions are designed to amend and update the original Meat Agreement (Deficiency Payments) Act 1955-1956. The act includes amendments such as redefining the term "licensed exporter" and "the Board," adjusting the rate of deficiency payments, and specifying the conditions under which such payments are made. Notably, the act also includes provisions for the Minister to make arrangements with the Reserve Bank of Australia for the investment of funds and addresses the management of overpayments of deficiency payments. The act’s amendments ensure that it aligns with the current legislative framework established by the Meat Industry Act 1964, replacing references to the Meat Export Control Act 1935-1953 with the more recent Meat Industry Act 1964.

Key Provisions

The Meat Agreement (Deficiency Payments) Act 1964 amends the Meat Agreement (Deficiency Payments) Act 1955-1956, as referenced in section 1(2) and 1(3). This Act, which comes into operation on the date fixed by Proclamation under section 2 of the Meat Industry Act 1964, primarily modifies the definitions of key terms and updates references to the Meat Export Control Act 1935-1953 to the Meat Industry Act 1964. For example, section 3 amends the definition of “licensed exporter” and “the Board,” and section 4 removes subsection (2) from section four of the Principal Act. Section 5 updates the reference to the condition specified in paragraph (b) of section six of the Principal Act, aligning it with subsection (4) of section twenty-nine of the Meat Industry Act 1964. The Act imposes several obligations on the parties involved, most notably by updating the authority responsible for making arrangements with the Reserve Bank of Australia. Section 6 replaces the Commonwealth Bank of Australia with the Reserve Bank of Australia, indicating a shift in the financial management of deficiency payments. Section 7 also updates the investment of moneys, replacing references to the Commonwealth Bank of Australia with the Reserve Bank of Australia, and section 11 makes a similar change in paragraph (b) of subsection (1). Moreover, section 8 amends section twelve of the Principal Act, removing references to the Meat Export Fund and an account under the Meat Export Control Act 1935-1953 and instead referencing an account maintained by the Board under section thirty-three of the Meat Industry Act 1964. The Act does not explicitly state any offences, penalties, or civil/criminal consequences for breach in the provided text. However, given its nature, any failure to comply with the provisions of the Act could potentially lead to legal consequences under the Meat Industry Act 1964 or other relevant legislation. The maximum penalties for such breaches would depend on the specific nature of the breach and the applicable laws at the time.