9Persons entitled

9.—(1.) Subject to this section, the person entitled to receive a deficiency payment in respect of wool is the producer of the wool.

(2.) Where—

(a) a deficiency payment has become payable by reason of a sale of wool or the exportation of wool for the purposes of sale outside Australia; and

(b) if the deficiency payment were part of the proceeds of the sale, or of a sale of the wool outside Australia, as the case may be, a person would be entitled or authorized to receive, or a person being the registered person by whom the deficiency payment is payable would be entitled or authorized to retain, the whole or a part of the deficiency payment by virtue of a security, assignment, direction or authorization given by the producer or a right of set-off,

that person is entitled or authorized, as the case may be, to receive or retain the whole or that part of the deficiency payment.

(3.) In determining, for the purposes of the last preceding sub-section, whether a person would be entitled or authorized to receive the whole or a part of a deficiency payment if it were part of the proceeds of a sale of wool sold in Australia, the actual proceeds of the sale shall be taken into account before the deficiency payment.

(4.) Subject to the next succeeding sub-section, the same rights and liabilities exist in respect of any moneys paid to, or retained by, a person in accordance with this section in respect of any wool, and any such moneys shall be dealt with and taken into account, as if—

(a) where those moneys became payable by reason of a sale of the wool—those moneys were part of the proceeds of the sale; or

(b) where those moneys became payable by reason of the exportation of the wool—those moneys were proceeds of a sale of the wool made immediately before the entry of the wool for export under the Customs Act 1901–1971.

(5.) The last preceding sub-section has effect subject to any provision in an agreement or instrument (whether made before or after the commencement of this Act) that refers specifically to payments under this Act or to payments in the nature of those payments.

(6.) Where a registered person who is required or authorized under this Act to make a deficiency payment is entitled to receive, as the producer of the wool, or to retain, in accordance with sub-section (2.) of this section, the whole or a part of the deficiency payment, the appropriation by him to his own use of moneys in respect of the deficiency payment, or of that part of the deficiency payment, as the case may be, shall be deemed to be payment of the deficiency payment to the extent of those moneys.

(7.) A reference in this section to the proceeds of the sale of wool shall be read as including a reference to the amount payable as the pool return in respect of P.A.P. wool.