Primary Industry Bank Regulations
1Primary Industry Bank Regulations
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Commonwealth Coat of Arms of Australia
Statutory Rules
1978 No. 258
REGULATIONS UNDER THE PRIMARY INDUSTRY BANK ACT 1977*
I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Primary Industry Bank Act 1977.
Dated this thirteenth day of December 1978.
ZELMAN COWEN
Governor-General
By His Excellency’s Command,
JOHN HOWARD
Treasurer
PRIMARY INDUSTRY BANK REGULATIONS
Citation
1. These Regulations may be cited as the Primary Industry Bank Regulations.
Interpretation
2. In these Regulations, “ the Act ” means the Primary Industry Bank Act 1977.
Prescribed maximum limit and prescribed rate of interest for the purposes of sub-section 8 (3) of the Act
3. For the purposes of sub-section 8 (3) of the Act—
(a) the amounts that may from time to time be lent to the Bank in accordance with sub-section 8 (2) of the Act shall be limited in the aggregate to a maximum of $30,000,000; and
(b) interest that is to be payable in respect of loans made to the Bank in accordance with sub-section 8 (2) of the Act shall be at the rate of 5 per cent per annum.
* Notified in the Commonwealth of Australia Gazette on 19 December 1978.