WHEAT INDUSTRY STABILIZATION (REFUND OF CHARGE).
No. 32 of 1951.
An Act to provide for the Payment, through the Australian Wheat Board, to Growers of Wheat of a certain Season of certain Moneys in the Wheat Prices Stabilization Fund.
[Assented to 22nd November, 1951.]
BE it 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 Industry Stabilization (Refund of Charge) Act 1951.
Commencement.
2. This Act shall come into operation on the day on which it receives the Royal Assent.
Definitions.
3. In this Act—
“the Board” means the Australian Wheat Board constituted under the Wheat Industry Stabilization Act 1948;
“the Fund” means the Wheat Prices Stabilization Fund established under the Wheat Industry Stabilization Act 1948.
Payments to the Board out of the Fund.
4. There shall be paid to the Board out of the Fund—
(a) an amount equal to the moneys in the Fund representing charge collected under the Wheat Export Charge Act 1948 in respect of wheat harvested in the year which commenced on the first day of October, One thousand nine hundred and forty-eight; and
(b) an amount equal to the income which has accrued to the Fund, up to the date of payment to the Board of the amount specified in the preceding paragraph, from the investment of the moneys in the Fund referred to in that paragraph.
Disposal of the money by the Board.
5. The Board shall apply all moneys received by it in pursuance of this Act as if they were the proceeds of the disposal by the Board of wheat harvested in the year which commenced on the first day of October, One thousand nine hundred and forty-eight, and delivered to the Board.
Overview
The Wheat Industry Stabilization (Refund of Charge) Act 1951 was enacted by the Australian Parliament to facilitate the refund of charges collected under the Wheat Export Charge Act 1948 to wheat growers through the Australian Wheat Board. This Act was introduced to address a gap in the distribution of funds from the Wheat Prices Stabilization Fund to the growers of a specific wheat season. The Act explicitly defines the Australian Wheat Board and the Wheat Prices Stabilization Fund, established under the Wheat Industry Stabilization Act 1948, as entities through which these refunds are to be processed. The policy objective, as stated in the Act, is to ensure that the Board utilises the refunded monies as if they were proceeds from the sale of wheat harvested during the specified season.
Scope and Application
The Wheat Industry Stabilization (Refund of Charge) Act 1951 applies to the Australian Wheat Board, referred to as 'the Board', which is constituted under the Wheat Industry Stabilization Act 1948. The Act's primary function is to facilitate the payment to wheat growers of certain monies from the Wheat Prices Stabilization Fund. The geographical reach of this Act is national, as it is enacted by the Commonwealth of Australia. It targets wheat growers of a specific season, namely, wheat harvested in the year beginning on the first day of October, 1948. The Act does not specify any exclusions, exemptions, or thresholds, but it does outline the process for the Board to apply the moneys received in accordance with the Act, treating these as proceeds from the sale of wheat harvested in the specified season. Additionally, the application and interpretation of this Act may be extended or restricted through subordinate instruments that complement the Wheat Industry Stabilization Act 1948 and the Wheat Export Charge Act 1948.
Key Provisions
The Wheat Industry Stabilization (Refund of Charge) Act 1951 (sections 1 to 5) outlines the process for the refund of charges to wheat growers via the Australian Wheat Board from the Wheat Prices Stabilization Fund. Under this Act, certain moneys collected as a charge on wheat exports, as per the Wheat Export Charge Act 1948, are to be refunded to growers. Specifically, section 4 details the payment process, where the Board is to receive an amount equal to the collected charges and the accrued income from these charges up to the date of payment. Section 5 then dictates that the Board must treat these received funds as if they were the proceeds from the sale of wheat harvested in the specified year.
In terms of obligations, the Wheat Industry Stabilization (Refund of Charge) Act 1951 imposes clear directives on the Australian Wheat Board (section 4). The Board is required to receive specified amounts from the Wheat Prices Stabilization Fund and must handle these funds with the same financial responsibility as it would with proceeds from wheat sales (section 5). This ensures that the refund process is transparent and that the funds are appropriately allocated back to the growers.
The Act does not explicitly outline specific offences, penalties, or consequences for breaches within its provisions. However, the importance of the Wheat Prices Stabilization Fund and the mandated process for refunding charges suggest that non-compliance could lead to legal repercussions. These might include potential actions for breaches of trust or mismanagement of funds, as the Act establishes a structured process that must be followed to ensure the proper distribution of refunds to growers. Given the context and the nature of the Act, breaches could potentially result in civil actions or administrative penalties, although these are not detailed within the Act itself.