Commonwealth Numbered Acts

WHEAT MARKETING ACT 1984 NO. 141 OF 1984 - SECT 47

47. If-

   (a)  the Minister directs the Board under section 11 to make a sale of
        wheat on terms involving a longer period of credit in respect of
        payment of an amount, being the whole or a part of the purchase
        moneys, than the period of credit that the Minister is satisfied,
        after consultation with the Board, is the period that the Board would
        have been prepared to allow on a strictly commercial basis;

   (b)  the Board incurs loss by reason of failure of the purchaser to pay
        that amount, or interest in respect of that amount, within the
        extended period of credit applicable to that amount; and

   (c)  the Minister is satisfied that the Board has taken all reasonable
        steps to recover from the purchaser the amount of the loss, the
        Minister for Finance shall, out of moneys appropriated by the
        Parliament for the purpose, pay the amount of the loss to the Board
        and the amount so paid to the Board shall, for the purposes of this
        Act, be deemed to be part of the proceeds of the sale of the wheat by
        the Board.