Commonwealth Numbered Acts

WHEAT MARKETING ACT 1979 No. 166 of 1979 - SCHEDULE

SCHEDULE
Sub-section 26 (2) FORMULA FOR ASCERTAINING THE PRICE PER TONNE OF WHEAT IN
RESPECT OF
A YEAR

(1 + 0.6A) (0.5B + 0.5C) + 0.6C (1.2 - D) where-

  A      = a number less by one than the number obtained by dividing the
index
number of the Index of Prices Paid by Farmers for the quarter ended
on 30 June immediately before the beginning of the subject year
published by the Bureau of Agricultural Economics by the index number
of that Index for the quarter ended 30 June immediately preceding the
first-mentioned 30 June

  B      = the amount of the price per tonne specified in, or ascertained
under,
sub-section 26 (2) in respect of the year immediately preceding the
subject year

  C      = an estimate of the amount of the average export price per tonne
for
Australian standard white wheat of the season that commenced on 1
October immediately preceding the commencement of the subject year
that has been, or will be, disposed of by the Board by way of export
sale or sale for export, being an estimate made by the Minister
having regard to any advice or information furnished to him by the
Board or the Bureau of Agricultural Economics

  D      = the number obtained by dividing the number of cents in the
aggregate
of the home consumption prices for wheat in respect of the 8 years
preceding the subject year by the number of cents in the aggregate of
the average export prices for wheat of the 8 seasons that commenced
on 1 October immediately preceding each of those 8 years

2. For the purpose of ascertaining the value of ''D'' in the formula set out
in paragraph 1-

   (a)  the reference to home consumption prices for wheat shall be read as a
        reference to-

        (i)    in so far as the reference relates to the year commencing on 1
               December 1979 or a subsequent year-the amount of the price per
               tonne specified in, or ascertained under, sub-section 26 (2) in
               respect of that year;

        (ii)   in so far as the reference relates to the year that commenced
               on 1 December 1978-$138.05;

        (iii)  in so far as the reference relates to the year that commenced
               on 1 December 1977-$122.34;

        (iv)   in so far as the reference relates to the year that commenced
               on 1 December 1976-$101.95;

        (v)    in so far as the reference relates to the year that commenced
               on 1 December 1975-$84.96;

        (vi)   in so far as the reference relates to the year that commenced
               on 1 December 1974-$70.80;

        (vii)  in so far as the reference relates to the year that commenced
               on 1 December 1973-$59.00; and

        (viii) in so far as the reference relates to the year that commenced
               on 1 December 1972-$55.48; and

   (b)  the reference to average export prices for wheat shall be read as a
        reference to-

        (i)    in so far as the reference relates to a season in respect of
               which all relevant information is in the possession of the
               Board-the amount per tonne of the average export price, f.o.b.,
               for Australian standard white wheat of that season that has
               been disposed of by the Board by way of export sale or sale for
               export; and

        (ii)   in so far as the reference relates to any other season-an
               estimate of the amount per tonne of the average export price,
               f.o.b., for Australian standard white wheat of that season that
               has been, or will be, disposed of by the Board by way of export
               sale or sale for export, being an estimate made by the Minister
               having regard to any advice or information furnished to him by
               the Board or the Bureau of Agricultural Economics.

3. Where the difference (in this paragraph referred to as ''the relevant
difference'') between the amount (in this paragraph referred to as ''the
ascertained amount'') of the price per tonne of wheat ascertained in
accordance with the formula in this Schedule in respect of a year and the
amount (in this paragraph referred to as ''the other amount'') of the price
per tonne of wheat specified in, or ascertained under, sub-section 26 (2) in
respect of the year immediately preceding the first-mentioned year exceeds an
amount (in this paragraph referred to as ''the maximum difference'') equal to
20% of the other amount, then-

   (a)  where the ascertained amount exceeds the other amount-the ascertained
        amount shall be reduced by the amount by which the relevant difference
        exceeds the maximum difference; or

   (b)  in any other case-the ascertained amount shall be increased by the
        amount by which the relevant difference exceeds the maximum
        difference.

4. A reference in this Schedule to a price specified in, or ascertained under,
sub-section 26 (2) shall be read as not including a reference to any addition
to that price under sub-section 26 (3).

5. In this Schedule-

''season'' means a period of 12 months commencing on 1 October;

''year'' means a period of 12 months commencing on 1 December.
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