Commonwealth Numbered Acts

WHEAT MARKETING AMENDMENT ACT 1982 NO. 150 OF 1982 - SECT 6

6. After section 12 of the Principal Act the following sections are inserted:
Reserves

''12A. (1) The Board may establish and maintain reserve accounts for the
purpose of facilitating the future performance of its functions or the future
exercise of its powers under this Act or a State Act.

''(2) Without limiting the generality of sub-section (1), the Board may deduct
amounts from the proceeds of-

   (a)  the disposal of wheat acquired by the Board under an Act (whether this
        Act or a State Act) on or after 1 October 1982; or

   (b)  the disposal, on or after 1 October 1982, of wheat products, and pay
        the amounts so deducted into an account established pursuant to
        sub-section (1).

''(3) Any amount of interest that accrues to an account established pursuant
to sub-section (1) shall be deemed to be part of that account.

''(4) Where moneys standing to the credit of an account established pursuant
to sub-section (1) are no longer required for the purposes for which the
account was established, the Board shall apply those moneys for the benefit of
the wheat industry in such manner as is approved by the Minister. Transfer of
wheat to another season

''12B. (1) Subject to sub-section (3), where, after the end of a season (in
this section referred to as the 'first season'), the Board has in its
possession any unsold wheat, being wheat of that season that was acquired by
the Board under an Act (whether this Act or a State Act), the Board may
transfer some or all of that wheat to another season (in this section referred
to as the 'second season') that has ended (whether before or after the end of
the first season) and, where the Board so transfers any wheat, that wheat
shall be deemed to be wheat of the second season and not wheat of the first
season.

''(2) Subject to sub-section (3), the Board may attribute to wheat transferred
from the first season to the second season under sub-section (1) such price as
the Board considers appropriate.

''(3) The Board shall not transfer a quantity of wheat from the first season
to the second season at a particular price if the transfer of that quantity of
wheat at that price would result in-

   (a)  an amount becoming payable to the Board under section 49 in respect of
        the first season or the second season; or

   (b)  an amount becoming payable to the Board under that section in respect
        of the first season or the second season that is greater than the
        amount that would have become so payable if that quantity of wheat had
        not been transferred at that price.

''(4) Where wheat is transferred from the first season to the second season
under sub-section (1)-

   (a)  the net pool return for wheat of the first season shall, for the
        purposes of this Act, be taken to be increased by an amount equal to
        the total price attributed by the Board to the wheat so transferred;

   (b)  the net pool return for wheat of the second season shall, for the
        purposes of this Act, be taken to be reduced by an amount equal to
        that total price;

   (c)  for the purposes of the application of sub-section 10 (1) in
        calculating the net pool return rate for the first season, the net
        pool return for wheat of that season shall be divided by a number of
        tonnes of wheat that includes the number of tonnes of wheat so
        transferred; and

   (d)  for the purposes of the application of sub-section 10 (1) in
        calculating the net pool return rate for the second season, the net
        pool return for wheat of that season shall be divided by a number of
        tonnes of wheat that does not include the number of tonnes of wheat so
        transferred. Importation and sale by the Board of overseas wheat

''12C. (1) The Board may-

   (a)  import overseas wheat into Australia;

   (b)  sell or dispose of, or make arrangements for the sale or disposal of,
        overseas wheat imported into Australia by the Board; and

   (c)  manage and control all matters connected with, or arising out of, the
        handling, storage, protection, treatment, transfer, shipment or sale
        of overseas wheat imported into Australia by the Board.

''(2) The price at which the Board shall, at a particular time, sell overseas
wheat that has been imported into Australia by the Board for human consumption
in Australia, for a stock-feed use in Australia or for an industrial use in
Australia is the price that would be applicable in respect of the sale of that
overseas wheat for that use at that time in accordance with the provisions of
section 26 (other than sub-section 26 (8) ) if that overseas wheat were wheat
harvested in Australia.''.