Commonwealth Numbered Acts

WHEAT MARKETING ACT 1984 NO. 141 OF 1984 - SECT 27

27. (1) Where the net pool return rate for wheat of a season exceeds the
guaranteed minimum price for Australian standard white wheat of that season,
the Board shall make a final payment of an amount determined in accordance
with sub-section (2) for Australian standard white wheat of that season
acquired by the Board under this Act.

(2) Subject to sub-section (6), the Board shall determine an amount payable
under sub-section (1) in respect of Australian standard white wheat of a
season by-

   (a)  calculating the amount that the final advance payment under section 26
        in respect of that wheat would have been if-

        (i)    the reference in section 26 to the guaranteed minimum price for
               Australian standard white wheat were a reference to the
               net pool return rate for wheat of that season;

        (ii)   the net pool return for that season were reduced by an amount
               (if any) equal to the amount, or the sum of the amounts,
               deducted by the Board from the disposal of wheat of that season
               and paid into a reserve account under section 7; and

        (iii)  the net pool return for that season were adjusted to take into
               account the result of any contract or dealing of the kind
               referred to in sub-paragraph 16 (2) (d) (i) that was entered
               into or that took place in relation to that season; and

   (b)  deducting from the amount calculated in accordance with paragraph (a)
        the amount of the final advance payment under section 26 in respect of
        that wheat.

(3) For the purpose of determining whether or not to make a final payment for
wheat of a prescribed category of a season acquired by the Board under this
Act, the Board shall make a calculation in accordance with sub-section (4) in
relation to wheat of that category of that season, and, where the amount per
tonne for that wheat calculated in accordance with that sub-section is a
positive amount, the Board shall make a final payment per tonne for that wheat
of an amount calculated by-

   (a)  taking the aggregate of that positive amount and the
        guaranteed minimum price for wheat of that category of that season;
        and

   (b)  deducting from that aggregate the amount per tonne of the final
        advance payment under section 26 in respect of that wheat.

(4) For the purposes of the application of sub-section (3) in relation to
wheat of a prescribed category of a season-

   (a)  the guaranteed minimum price for Australian standard white wheat of
        that season shall be deducted from the net pool return rate for wheat
        of that season; and

   (b)  where-

        (i)    the gross return per tonne for wheat of that category of that
               season does not exceed the gross return per tonne for
               Australian standard white wheat of that season-the amount per
               tonne of the final difference in relation to wheat of that
               category shall be deducted from the amount per tonne of the
               original difference in relation to wheat of that category and
               the amount so obtained shall be added to the amount calculated
               in accordance with paragraph (a); and

        (ii)   the gross return per tonne for wheat of that category of that
               season exceeds the gross return per tonne for
               Australian standard white wheat of that season-the amount per
               tonne of the original difference referred to in sub-paragraph
               (i) shall be deducted from the amount per tonne of the final
               difference referred to in that sub-paragraph and the amount so
               obtained shall be added to the amount calculated in accordance
               with paragraph (a).

(5) In sub-section (4)-

"final difference", in relation to wheat of a prescribed category, means the
difference between-

   (a)  the gross return per tonne for wheat of that category; and

   (b)  the gross return per tonne for that wheat that would, in the opinion
        of the Board, have been received by the Board from the disposal of
        that wheat if that wheat had been Australian standard white wheat sold
        at the same times and in the same quantities as that wheat was sold;

"original difference", in relation to wheat of a prescribed category, means
the difference that was calculated for the purposes of paragraph 15 (3) (b)
between the gross return per tonne, and the notional gross return per tonne,
for wheat of that category.

(6) An amount payable under sub-section (1) or (3) in respect of wheat of a
season to a person who has purchased a quantity of wheat of that season (in
this sub-section referred to as the "purchased quantity of wheat") from the
Board in accordance with sub-section 32 (8) shall be calculated in accordance
AB
with the formula AB   ------- , where-

C
A is the amount that, but for this sub-section, would be the amount required
to be paid by the Board to the person under sub-section (1) or (3), as the
case requires, in respect of that season;
B is the purchased quantity of wheat; and
C is the total quantity of wheat of that season acquired by the Board from the
person under this Act.

(7) The Board may make advances on account of final payments under sub-section
(1) or (3).

(8) For the purposes of calculating the amount referred to in paragraph (2)
(a) in respect of Australian standard white wheat, the amount of the final
advance payment under section 26 in respect of that wheat shall be increased
or decreased, as the case may be, by the same amount of allowances in respect
of the matters referred to in sub-sections 26 (6) and (7) as the amount of
that final advance payment was increased or decreased.

(9) For the purposes of this section, the net pool return rate for wheat of a
season shall be calculated as if the net pool return for that season were
calculated taking into account the adjustments referred to in sub-paragraphs
(2) (a) (ii) and (iii).
(10) In this section, "season" does not include the season commencing on 1
July 1989 or the next succeeding season.