Commonwealth Numbered Acts

WHEAT MARKETING AMENDMENT ACT 1986 No. 82 of 1986 - SECT 28

28. Section 48 of the Principal Act is amended-
(a) by omitting from sub-section (1) "but shall not do so without the approval
of the Minister"; and

   (b)  by inserting after sub-section (1) the following sub-sections:

"(1A) The Minister may, by notice in writing given to the Board-

   (a)  set guidelines for the purpose of the exercise by the Board of its
        power under sub-section (1); and

   (b)  revoke or vary guidelines set for that purpose or set new guidelines
        for that purpose.

"(1B) The Board shall not discount a letter of credit otherwise than in
accordance with guidelines having effect from time to time under sub-section
(1A).".