WHEAT MARKETING ACT 1989No. 58, 1989 - SECT 76 Credit sales at direction of Minister

WHEAT MARKETING ACT 1989No. 58, 1989 - SECT 76

76. (1) The Minister shall not give a direction under section 8 that requires
the Board to sell wheat on terms involving an extended credit period unless he
or she has first consulted with the Board.

(2) In subsection (1):

"extended credit period" means a period of credit longer than the period the
Board would have been prepared to allow on a strictly commercial basis.

(3) Where:

   (a)  at the direction of the Minister, the Board has sold wheat on terms
        involving an extended credit period;

   (b)  the Board has incurred loss because of the failure of the purchaser to
        pay an amount within the extended credit period applicable to the
        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 pay to the Board, out of money appropriated
        by Parliament for the purpose, the amount of the loss.

(4) The amount paid to the Board by the Minister for Finance shall be regarded
as part of the proceeds of sale of the wheat.