Commonwealth Numbered Acts

WHEAT MARKETING ACT 1984 NO. 141 OF 1984 - SECT 16

16. (1) For the purposes of this Act, the Minister shall determine the net
pool return for wheat of a season acquired by the Board by-

   (a)  taking the aggregate of the following amounts:

        (i)    the gross return from the disposal by the Board of all
               Australian standard white wheat of that season acquired by the
               Board;

        (ii)   an amount equal to the gross return that the Board would have
               received from the disposal of all wheat, other than
               Australian standard white wheat, of that season acquired and
               disposed of by the Board if that wheat had been
               Australian standard white wheat at the time when it was
               disposed of; and

   (b)  deducting from that aggregate the aggregate of the following amounts:

        (i)    the costs incurred by the Board to the extent that they relate
               wholly to wheat of that season or may be reasonably allocated
               to such wheat;

        (ii)   an amount determined by the Board having regard to the extent
               to which freight charges per tonne in respect of the export of
               wheat of that season from Western Australia to places outside
               Australia are, or in the opinion of the Board are likely to be,
               lower than freight charges per tonne in respect of the export
               of wheat of that season from other places in Australia to
               places outside Australia.

(2) In determining the net pool return for wheat of a season-

   (a)  moneys received by the Board under a policy of insurance in respect of
        wheat of that season, or in respect of a transaction in relation to
        any such wheat, shall be deemed to be proceeds of the disposal of that
        wheat;

   (b)  each of the following amounts shall be taken to be costs incurred by
        the Board in relation to that season:

        (i)    allowances as finally ascertained by the Board for the matter
               referred to in sub-paragraph 26 (6) (b) (iii) or the
               corresponding provision of a State Act in respect of wheat of
               that season;

        (ii)   any amount payable to the Board by a person under sub-section
               28 (5) or the corresponding provision of a State Act that
               should, in the opinion of the Board, having regard to whether
               or not that amount may reasonably be recovered by action taken
               under sub-section 28 (6) or (7) or a corresponding provision of
               a State Act, be written off by the Board as a bad debt in
               relation to that season;

   (c)  moneys paid into a reserve account under section 7 shall not be taken
        to be costs incurred by the Board; and

   (d)  no account shall be taken of the following:

        (i)    if the Board has entered into or dealt with a currency contract
               or futures contract in relation to that season otherwise than
               in accordance with guidelines having effect under sub-section 6
               (2)-the result of that contract or dealing;

        (ii)   amounts taken into account under sub-section 26 (9) or the
               corresponding provision of a State Act representing the amounts
               by which the price received by the Board under a contract of
               sale of wheat entered into under section 23 or the
               corresponding provision of a State Act differs from the price
               that would be the appropriate price if the wheat were
               Australian standard white wheat sold under a contract of sale
               to which section 32 or the corresponding provision of a State
               Act applied;

        (iii)  allowances (other than the allowances referred to in
               sub-paragraph (b) (i)) as finally ascertained by the Board for
               the matters referred to in sub-sections 26 (6) and (7) or in
               the corresponding provisions of a State Act;

        (iv)   moneys to which section 33, or a corresponding provision of a
               State Act, applies or of costs of the Board payable out of
               those moneys.