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This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
DAIRY INDUSTRY
AMENDMENT BILL 1994
Queensland
DAIRY INDUSTRY AMENDMENT BILL
1994
TABLE OF PROVISIONS
Section Page
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3 Amendment of s 3 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
4 Amendment of s 8 (Meetings of the Council) . . . . . . . . . . . . . . . . . . . . . . . . 5
5 Insertion of new Pt 2, Div 3A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Division 3A--Financial arrangements of Authority
16A Division does not limit Authority's general powers . . . . . . . . . . . . . 6
16B Power to enter into financial arrangements . . . . . . . . . . . . . . . . . . . . 6
16C Power to mortgage property etc. for financial arrangement . . . . . . . 6
16D Priority of Authority's debentures, bonds and inscribed stock . . . . . 6
16E Priority of charge over revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
16F Notice of default . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
16G Remedies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
16H Receiver's remuneration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
16I Powers and duties of receiver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
16J Alternative remedies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
6 Amendment of s 106 (Appeals to the Tribunal) . . . . . . . . . . . . . . . . . . . . . . 9
7 Replacement of s 107 (Powers of Tribunal on appeal) . . . . . . . . . . . . . . . . 9
107 How to start an appeal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
107A Stay of operation of order etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
107B Powers of Tribunal on appeal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
8 Insertion of new ss 115 and 116 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
2
Dairy Industry Amendment
115 Declaration about Authority's powers to enter into
financial arrangements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
116 Sections 16D and 16E subject to order under s 47 . . . . . . . . . . . . . . 11
1994
A BILL
FOR
An Act to amend the Dairy Industry Act 1993
s1 4 s3
Dairy Industry Amendment
The Parliament of Queensland enacts-- 1
title 2
Short
1. This Act may be cited as the Dairy Industry Amendment Act 1994. 3
amended 4
Act
2. This Act amends the Dairy Industry Act 1993. 5
of s 3 (Definitions) 6
Amendment
3. Section 3-- 7
insert-- 8
` "financial arrangements" means arrangements providing for, about or 9
directed towards any of the following-- 10
(a) borrowing money, raising money, or obtaining any form of 11
financial accommodation, in Australia or elsewhere, including, 12
for example, by issuing debentures, bonds, inscribed stock and 13
other securities; 14
(b) lending money; 15
(c) entering into and performing deferred payment arrangements as 16
debtor or creditor; 17
(d) entering into leases of any term for land, buildings, plant, 18
machinery, equipment or other property, whether as lessee, 19
lessor, owner or tenant; 20
(e) entering into partnerships and ventures and forming companies; 21
(f) acquiring, holding, dealing with and disposing of-- 22
(i) shares in any corporation, company debentures, bonds, 23
stock or other securities, including debentures, bonds, 24
inscribed stock and other securities issued by the Authority 25
itself; and 26
s4 5 s5
Dairy Industry Amendment
(ii) land, buildings, plant, machinery, equipment or other 1
property and any interest or charge in or over them; and 2
(iii) foreign currency; 3
and incurring and performing obligations about foreign currency; 4
(g) taking land; 5
(h) accepting money on deposit; 6
(i) entering into covenants, undertakings, arrangements, promises, 7
guarantees or indemnities to meet liabilities incurred by or to 8
anyone, whether or not the person is a party; 9
(j) entering into arrangements directed at granting financial 10
accommodation by or to anyone, whether or not the person is a 11
party; 12
(k) entering into liabilities as seller or buyer of any output or other 13
product; 14
(l) investing money; 15
(m) issuing, drawing, accepting, endorsing or discounting bills of 16
exchange, promissory notes, payment orders or other negotiable 17
instruments; 18
(n) forming or establishing, taking part in forming or establishing or 19
taking part in a business undertaking; 20
(o) underwriting issues of shares in, or debentures or other securities 21
of, a business undertaking. 22
"revenue" of the Authority includes income.'. 23
of s 8 (Meetings of the Council) 24
Amendment
4. Section 8(3)-- 25
omit. 26
of new Pt 2, Div 3A 27
Insertion
5. After section 16-- 28
insert-- 29
s5 6 s5
Dairy Industry Amendment
3A--Financial arrangements of Authority 1
`Division
does not limit Authority's general powers 2
`Division
`16A. This Division does not limit section 13(1) (General powers of the 3
Authority). 4
to enter into financial arrangements 5
`Power
`16B. In performing its functions, the Authority may enter into financial 6
arrangements with anyone else. 7
to mortgage property etc. for financial arrangement 8
`Power
`16C.(1) For financial arrangements under section 16B, the Authority 9
may-- 10
(a) mortgage any of its property; and 11
(b) execute any agreement, including, for example, a sale agreement, 12
purchase agreement, lease and management and operating 13
agreement (a "security agreement"); and 14
(c) mortgage any of its revenue. 15
`(2) A mortgage or security agreement may not prevent the Authority 16
from dealing with its property in the ordinary course of performing its 17
functions. 18
of Authority's debentures, bonds and inscribed stock 19
`Priority
`16D. If the Authority enters into financial arrangements by issuing 20
debentures, bonds or inscribed stock ("instruments") that are unsecured or 21
are secured over the Authority's revenue, the instruments rank equally with 22
each other, and without priority over each other, unless a priority is 23
specified in the arrangements. 24
of charge over revenue 25
`Priority
`16E.(1) This section applies if the Authority enters into financial 26
s5 7 s5
Dairy Industry Amendment
arrangements providing for a charge over its revenue, other than by issuing 1
debentures, bonds or inscribed stock. 2
`(2) The charge ranks equally with, and without priority over, other 3
charges created by the Authority over its revenue unless the charge provides 4
that it has a different priority from the Authority's other charges. 5
of default 6
`Notice
`16F.(1) This section applies if the Authority does not pay principal or 7
interest when it becomes payable to a person (the "creditor") under the 8
Authority's debentures, bonds or inscribed stock (the "default"). 9
`(2) The creditor may not exercise a remedy under this Division for the 10
default unless the creditor gives the Authority written notice of the default 11
(the "default notice") and the default continues for 14 days after the notice 12
is given. 13
14
`Remedies
`16G.(1) If the default continues for 14 days after the default notice is 15
given, the creditor may-- 16
(a) apply to the Supreme Court for the appointment of a receiver for 17
the Authority; or 18
(b) recover the amount payable by the Authority to the creditor as a 19
debt by a proceeding in a court of competent jurisdiction. 20
`(2) The Supreme Court has jurisdiction to appoint a receiver for the 21
general revenue or a specific revenue of the Authority. 22
`(3) This section does not limit the Supreme Court's jurisdiction in 23
relation to the Authority. 24
remuneration 25
`Receiver's
`16H.(1) A receiver appointed for the Authority is entitled to the 26
remuneration, by way of commission, fees or otherwise, the Supreme 27
Court orders. 28
s5 8 s5
Dairy Industry Amendment
`(2) The remuneration is payable out of the Authority's revenue for 1
which the receiver is appointed. 2
and duties of receiver 3
`Powers
`16I.(1) The receiver may collect all the Authority's revenue for which 4
the receiver has been appointed. 5
`(2) In exercising powers as a receiver, the receiver is taken to be the 6
Authority and may exercise all its powers. 7
`(3) The receiver must pay all amounts received during the receivership 8
as follows-- 9
(a) firstly, in payment of the costs of collection and the receiver's 10
remuneration; 11
(b) secondly, in payment to the creditor and other persons, in the 12
order of priority decided by the Supreme Court; 13
(c) thirdly, in payment of any balance to the Authority. 14
remedies 15
`Alternative
`16J.(1) Sections 16F to 16I do not apply to a financial arrangement 16
between the Authority and anyone else if the arrangement provides for 17
remedies to be available under this section. 18
`(2) The arrangement may provide remedies against the Authority or 19
anyone else (a "defaulting party") who defaults under the arrangement. 20
`(3) A remedy provided in the arrangement against a defaulting party 21
may be the appointment of a receiver to the defaulting party and the 22
arrangement may make provision about the receiver's functions, powers 23
and remuneration. 24
`(4) The arrangement may also provide that, if a receiver is appointed to 25
the defaulting party, the receiver-- 26
(a) is taken to be the defaulting party; and 27
(b) may exercise all or stated powers of the defaulting party.'. 28
s6 9 s7
Dairy Industry Amendment
of s 106 (Appeals to the Tribunal) 1
Amendment
6. After section 106(3)-- 2
insert-- 3
`(4) In this section, a reference to an order, direction or decision includes 4
a reference to a failure to make an order or a decision or give a direction.'. 5
of s 107 (Powers of Tribunal on appeal) 6
Replacement
7. Section 107-- 7
omit, insert-- 8
to start an appeal 9
`How
`107.(1) An appeal is started by filing a written notice of appeal with the 10
Tribunal in the form approved by the Tribunal. 11
`(2) The Tribunal must give a copy of the notice to the Authority or the 12
authorised person whose order, direction or decision is being appealed 13
against. 14
`(3) The notice of appeal must be filed within 28 days after the appellant 15
receives notice of the order, direction or decision appealed against. 16
`(4) The Tribunal may at any time extend the period for filing the notice 17
of appeal. 18
`(5) The notice of appeal must state the grounds of the appeal. 19
of operation of order etc. 20
`Stay
`107A.(1) In this section-- 21
"decision" includes an order or direction. 22
`(2) The Tribunal may stay a decision appealed against to secure the 23
effectiveness of the appeal. 24
`(3) A stay-- 25
(a) may be given on conditions the Tribunal considers appropriate; 26
and 27
(b) operates for the period stated by the Tribunal; and 28
s8 10 s8
Dairy Industry Amendment
(c) may be revoked or amended by the Tribunal. 1
`(4) The period of a stay stated by the Tribunal must not extend past the 2
time when the Tribunal decides the appeal. 3
`(5) The starting of an appeal against a decision affects the decision, or 4
the carrying out of the decision, only if the decision is stayed. 5
of Tribunal on appeal 6
`Powers
`107B.(1) In this section-- 7
"decision" includes an order or direction. 8
`(2) In deciding an appeal, the Tribunal may-- 9
(a) confirm the decision appealed against; or 10
(b) set the decision aside and substitute another decision; or 11
(c) set the decision aside and return the matter to the Authority or 12
authorised person with directions the Tribunal considers 13
appropriate. 14
`(3) In substituting another decision, the Tribunal has the same powers as 15
the Authority or authorised person. 16
17
Example--
18
The Tribunal may decide that an unsuccessful applicant for a producer's licence
19
be issued the licence and decide conditions for it.
`(4) If the Tribunal substitutes another decision, the substituted decision 20
is taken, for the purposes of this Act, to be the decision of the Authority or 21
authorised person.'. 22
of new ss 115 and 116 23
Insertion
8. After section 114, in Part 8-- 24
insert-- 25
about Authority's powers to enter into financial 26
`Declaration
arrangements 27
`115.(1) To remove doubt, it is declared that the Authority has always 28
had power to enter into financial arrangements mentioned in section 16B 29
s8 11 s8
Dairy Industry Amendment
with anyone else, and to do everything else provided for in Part 2, 1
Division 3A. 2
`(2) This section expires 6 months after it commences. 3
`(3) Section 20A of the Acts Interpretation Act 1954 applies to this 4
section. 5
16D and 16E subject to order under s 47 6
`Sections
`116.(1) Sections 16D and 16E are subject to an order under section 47 7
made before the commencement of this section providing for a priority for 8
a mortgage or charge over the Authority's property. 9
`(2) This section expires on 31 December 1998. 10
`(3) Section 20A of the Acts Interpretation Act 1954 applies to this 11
section.'. 12
13
© State of Queensland 1994
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