Commonwealth act

Wheat Marketing Amendment Act 1983

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

24 of 1983

Collection

act

Plain English Summary

2/10 complexity

This Act makes two small but important changes to the Wheat Marketing Act 1979, which governs how the Australian Wheat Board operates.

1. International borrowing powers The Board can now borrow money and arrange financial deals both inside Australia and overseas. Before this change, its powers to raise funds may have been limited to domestic activities only. This gives the Board access to international money markets.

2. End to government payments The Act stops any government payments to the Board on or after 30 June 1983. This means the Board can no longer rely on taxpayer funding and must support itself through commercial borrowing.

Why it matters These changes mark a shift toward making the Wheat Board more commercially independent—treating it less like a government department and more like a self-funding business that must secure its own financing.

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Wheat Marketing Amendment Act 1983

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Wheat Marketing Amendment Act 1983

No. 24 of 1983

An Act to amend the Wheat Marketing Act 1979

[Assented to 14 June 1983]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title, &c.

(1) This Act may be cited as the Wheat Marketing Amendment Act 1983.

(2) The Wheat Marketing Act 19791 is in this Act referred to as the Principal Act.

Commencement

This Act shall come into operation on the day on which it receives the Royal Assent.

Raising of moneys by Board

Section 44 of the Principal Act is amended by inserting after sub-section (5) the following sub-section:

“(5a) The powers of the Board under sub-sections (3) and (5) may be exercised both within and outside Australia.”.

Amounts payable to Board in respect of commercial borrowings

4. Section 46 of the Principal Act is amended by inserting after sub-section (3c) the following sub-section:

“(3d) Nothing in this section shall be taken to require, or to authorize, the making of a payment to the Board on or after 30 June 1983.”.

NOTE

1. No. 166, 1979, as amended. For previous amendments, see Nos. 48 and 150, 1982.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Wheat Marketing Amendment Act 1983

Wheat Marketing Amendment Act 1983

No. 24 of 1983

An Act to amend the Wheat Marketing Act 1979

[Assented to 14 June 1983]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title, &c.

(1) This Act may be cited as the Wheat Marketing Amendment Act 1983.

(2) The Wheat Marketing Act 19791 is in this Act referred to as the Principal Act.

Commencement

This Act shall come into operation on the day on which it receives the Royal Assent.

Raising of moneys by Board

Section 44 of the Principal Act is amended by inserting after sub-section (5) the following sub-section:

“(5a) The powers of the Board under sub-sections (3) and (5) may be exercised both within and outside Australia.”.

Amounts payable to Board in respect of commercial borrowings

4. Section 46 of the Principal Act is amended by inserting after sub-section (3c) the following sub-section:

“(3d) Nothing in this section shall be taken to require, or to authorize, the making of a payment to the Board on or after 30 June 1983.”.

NOTE

1. No. 166, 1979, as amended. For previous amendments, see Nos. 48 and 150, 1982.