Wheat Research Amendment Act 1979

Overview

The Wheat Research Amendment Act 1979 was enacted to amend the Wheat Research Act 1957, aiming to address gaps related to the management of funds generated from wheat research and the reporting of its operations. This legislation was passed by the Queen, and the Senate and House of Representatives of the Commonwealth of Australia. The primary policy objective of the Act is to ensure that moneys received from the Wheat Tax Act 1979 are properly accounted for and managed within the Wheat Research Account. Additionally, it establishes a requirement for annual reporting to Parliament on the operation of the Act, enhancing transparency and accountability in the administration of wheat research funds.

Scope and Application

The Wheat Research Amendment Act 1979 amends the Wheat Research Act 1957, which it refers to as the Principal Act. This Act applies to the administration and funding of wheat research within the Commonwealth of Australia. It specifically addresses the allocation of funds collected under the Wheat Tax Act 1979, which are now to be paid into the research account as well as being subject to separate accounting for wheat sold by the Australian Wheat Board in the states. The Act is applicable nationally, with amendments extending to the financial management and reporting mechanisms for the Wheat Research Fund. The Act does not explicitly state exclusions, exemptions, or thresholds, but it does clarify the financial flows and reporting requirements for the wheat research activities. The scope of this legislation is further defined and potentially extended through subordinate instruments, which may provide additional details or regulations to implement the provisions of the Wheat Research Amendment Act 1979.

Key Provisions

The Wheat Research Amendment Act 1979 (sections 3 and 4) amends the Wheat Research Act 1957 by requiring that certain funds be directed into a designated account. Specifically, Section 3 of the Amendment Act modifies the Principal Act to include payments equivalent to the amounts received under the Wheat Tax Act 1979. This means that any revenue generated by the Wheat Tax Act 1979 will now be directed into the Wheat Research Account, in addition to the funds that were previously required to be deposited. Furthermore, Section 4 mandates that separate accounting records must be maintained for these funds, ensuring clear and distinct tracking of the revenue from the Wheat Tax Act 1979 and its allocation towards wheat research activities. The obligations and requirements imposed by the Wheat Research Amendment Act 1979 primarily revolve around the management and reporting of funds. The Act necessitates that the Minister for Wheat Research ensure the annual preparation and submission of a report detailing the operation of the Act to both Houses of Parliament by 31 December each year. This annual report is to cover the financial year ending on 30 June of the previous year, with a special provision for the year ending on 30 June 1980 to include the period from 1 January 1979 to 30 June 1979. This reporting requirement is crucial for maintaining transparency and accountability regarding the use of funds derived from the Wheat Tax Act 1979 and their impact on wheat research activities. In terms of consequences for non-compliance, the Wheat Research Amendment Act 1979 does not explicitly detail offences or penalties for breaches of its provisions. However, given the nature of the amendments and the requirement for accurate financial reporting, failure to comply with the reporting obligations could potentially lead to administrative or legal repercussions. While the Act itself does not stipulate specific penalties, breaches of statutory duties related to financial reporting and accountability could result in civil or administrative actions, including fines or other corrective measures, as per the broader legislative framework governing such activities in Australia.