Wheat Acquisition Act 1933

Legislation au C1933A00067 Not in force Act

Legislation content

 

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. The Governor-General may make regulations, not inconsistent with this Act, prescribing all matters which by this Act are required or permitted to be prescribed, or which are necessary or convenient to be prescribed, for carrying out or giving effect to this Act.

 

Overview

The Wheat Acquisition Act 1933 was enacted by the Parliament of the Commonwealth of Australia to address the economic challenges posed by the global wheat trade, particularly in the context of international agreements to restrict wheat exports. The legislation empowers the Commonwealth to purchase, store, and sell wheat that may not be exportable due to these international agreements. The policy objective of the Act is to provide a mechanism for managing the domestic wheat supply and ensuring economic stability for wheat producers within Australia. This is achieved by enabling the Commonwealth to intervene in the wheat market during the 1933-1934 season, purchasing any surplus wheat and setting the purchase price at the world parity price. The Act also provides for the storage and subsequent sale of the acquired wheat, as well as arrangements for financial support through the Commonwealth Bank of Australia.

Scope and Application

The Wheat Acquisition Act 1933 applies to the Commonwealth, specifically empowering it to purchase, store, and sell wheat that may not be exportable due to international agreements aimed at restricting wheat exports from wheat-producing countries. The Act is concerned with the wheat produced during the 1933-1934 season, and it applies to any wheat that is declared as surplus by the Commonwealth Statistician, provided this quantity exceeds the amount required for domestic consumption and a set minimum threshold. The Act extends its application through subordinate regulations that the Governor-General may make to ensure the effective implementation of the Act, but these must not conflict with the provisions of the primary Act. There are no explicit exclusions or exemptions stated in the text, and the geographic reach of the Act is limited to the Commonwealth of Australia.

Key Provisions

The Wheat Acquisition Act 1933 (sections 3 and 4) allows the Commonwealth to purchase any surplus wheat produced during the 1933–1934 season. The Commonwealth Statistician determines the surplus by calculating the total wheat produced and estimating the quantity required for domestic consumption and export, with an additional allowance of 105 million bushels for export. If the total production exceeds the domestic requirement plus the export allowance, the surplus is declared by the Statistician and can be purchased by the Commonwealth under the Act. The Act imposes several obligations on the parties involved. The Commonwealth Statistician is responsible for estimating the total wheat production and the quantities required for domestic consumption and export, which forms the basis for declaring any surplus (sections 2 and 4). The Minister is authorised to arrange for the Commonwealth Bank to make advances for purchasing the surplus wheat and to guarantee repayment of these advances (section 8). Furthermore, the Minister may enter into agreements to manage the storage and other logistical aspects of the wheat purchased (section 9). Failure to comply with the provisions of the Wheat Acquisition Act 1933 may lead to legal consequences. Although the Act itself does not explicitly state offences, penalties, or civil/criminal consequences for breaches, the overarching legal framework of Australia would apply. Breaches of regulations made under the Act could result in fines or other penalties as prescribed by the relevant legislation. Additionally, any failure to meet the obligations outlined in the Act, such as inaccurate declarations or non-compliance with storage agreements, could lead to legal actions for breach of contract or statutory duties, with potential financial penalties or other remedies available to the aggrieved party.

Legal classification tags

Area of Law
Commercial Law
Instrument
Act
Concepts
Definitions & Interpretation
Purchase of surplus wheat
Sale of wheat

Interactions

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.