1Wheat Industry Stabilization (Refund of Charge) Act 1953

WHEAT INDUSTRY STABILIZATION (REFUND OF CHARGE).

No. 93 of 1953.

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 12th December, 1953.]

BE it enacted by the Queen’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 1953.

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 Marketing Act 1948-1953;

“the Fund” means the Wheat Prices Stabilization Fund maintained under the Wheat Marketing Act 1948-1953.

Payments to the Board out of the Find.

4. There shall be paid to the Board out of the Fund—

(a) an amount equal to the moneys in the Fund representing the 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 fifty; and

(b) an amount equal to the additional moneys which have accrued to the Fund, up to the date of payment to the Board of the amount specified in the preceding paragraph, from investments attributable to the moneys in the Fund referred to in that paragraph.

Disposal of the moneys 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 fifty, and delivered to the Board.