Wheat Industry Stabilization Act (No. 2) 1946

Overview

The Wheat Industry Stabilization Act (No. 2) 1946 was enacted to amend the Wheat Industry Stabilization Act 1946, providing updates and ensuring the continued stability and regulation of the wheat industry during a period of significant economic and wartime pressures. Enacted by the Parliament of Australia, the Act aimed to address the evolving needs of the wheat industry by updating certain provisions and ensuring that regulatory frameworks remained effective. The primary objective of this legislation was to support the stability of the wheat industry, which was crucial for both economic and wartime efforts. The Act specifically targets the continuity and amendment of certain regulations and provisions related to the Wheat Industry Stabilization Act 1946. It ensures that the Australian Wheat Board has the necessary powers and that the regulations governing wheat acquisition and stabilization remain in force for the 1946-47 season. By updating fiscal and regulatory measures, the Act seeks to maintain the integrity of the Wheat Prices Stabilization Fund and ensure that the industry operates within the legal framework designed to support national interests.

Scope and Application

The Wheat Industry Stabilization (No. 2) Act 1946 amends the Wheat Industry Stabilization Act 1946 to update the fiscal year references and extend the authority of the Australian Wheat Board for the wheat season of 1946-47. This legislation applies to the entities and individuals involved in the wheat industry within the Commonwealth of Australia, including the Australian Wheat Board and those subject to the National Security (Wheat Acquisition) Regulations. The Act ensures the Board's continued operation by amending and validating the existing regulations and includes provisions for the stabilization of wheat prices through the Wheat Prices Stabilization Fund, adjusting for the amounts collected under related Acts. The geographic scope of this legislation is national, applying across Australia. There are no explicit exclusions or exemptions stated in the text, and the application of the Act is further extended or restricted through subordinate instruments such as regulations and amendments made under this Act.

Key Provisions

The Wheat Industry Stabilization (No. 2) Act 1946 amends the Wheat Industry Stabilization Act 1946 by modifying several key sections to extend certain provisions for the 1946-47 season. Section 3 updates the fiscal year reference in the Principal Act from 1945-46 to 1946-47. Section 4 ensures that the National Security (Wheat Acquisition) Regulations continue to be in force for the same period. Section 5 and 6 clarify that acts performed under the repealed National Security (Wheat Acquisition) Act are deemed to have been performed under this Act, and employees under the repealed regulations are considered employees of the Board. Section 7 addresses pending applications under the repealed regulations, ensuring they remain valid under the new Act. Section 8 revises the Wheat Prices Stabilization Fund to include amounts collected under the Wheat Export Charge Acts 1946 and the Wheat Tax Act 1946, minus any necessary adjustments. The Act imposes specific obligations on parties governed by it. For example, Section 3 mandates that the Board's power, as outlined in the Principal Act, applies to the 1946-47 season. Section 4 ensures that the continued force of the National Security (Wheat Acquisition) Regulations applies seamlessly to the specified season. Section 5 and 6 provide legal continuity for actions and employment statuses that were under the repealed National Security (Wheat Acquisition) Act. Section 7 ensures that any applications pending under the repealed regulations are maintained and processed under the new Act. Finally, Section 8 updates the funding source for the Wheat Prices Stabilization Fund to reflect current legislative requirements. In terms of offences and penalties, Section 9 introduces a new sub-section that specifies the penalties for contravening or failing to comply with any provision of the Act or the Regulations. Any person who contravenes or fails to comply with any such provision for which no other penalty is specified shall be guilty of an offence. The penalty for such an offence is a fine of One hundred pounds or imprisonment for six months. This is a significant update to the enforcement mechanisms of the Act, providing clear consequences for non-compliance.