Commonwealth Numbered Acts

APPLE AND PEAR EXPORT UNDERWRITING AMENDMENT ACT 1986 No. 15 of 1986 - SECT 8

8. Section 8 of the Principal Act is amended-
(a) by inserting in sub-section (1) "forward sale" after "average";
(b) by inserting in sub-section (1) "forward sale" after "minimum";
(c) by inserting in sub-section (1) "forward sold" before "exported fruit";

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

"(1A) Where the average at risk export return rate for a relevant season in
respect of the kind of fruit is less than the guaranteed minimum at risk
export return rate for that season in respect of that kind of fruit, an
underwriting payment is payable in respect of at risk exported fruit of that
kind exported during that season.";
(e) by inserting in sub-section (3) "forward sold" before "exported fruit"
(wherever occurring);
(f) by inserting in sub-section (3) "forward sale" after "average";
(g) by inserting in sub-section (3) "forward sale" after "minimum"; and

   (h)  by inserting after sub-section (3) the following sub-section:

"(3A) The rate of an underwriting payment in respect of at risk exported fruit
exported during a relevant season is an amount per reputed box, or part of a
reputed box, in each container of the fruit equal to the amount by which the
amount per reputed box that constitutes the average at risk export return rate
for that season in respect of the kind of fruit in which the at risk exported
fruit is included is less than the amount per reputed box that constitutes the
guaranteed minimum at risk export return rate for that season in respect of
that kind of fruit.".