Queensland GRAIN INDUSTRY (RESTRUCTURING) AMENDMENT BILL 1993 Queensland GRAIN INDUSTRY (RESTRUCTURING) AMENDMENT BILL 1993 TABLE OF PROVISIONS Section Page 1 Short title 2.2... eee eee 2 Amended Act ....... 0... cee cee eee eens 3 Amendment of s.2 (Objects of Act)... 0.0.0.0... 0.0002 4 Omission of Part 5 (ss.54-9) .. 0... eee eee 5 Replacement of s.91 (Regulations) ............. 5.00. e cece e eee eee 91 Regulations ..... 0.00... e cece eee tte eens 6 Amendment of Schedule 1 (Repeals and Transitional Provision) ........ 4 Winding-up of former hail compensation schemes.............. A BILL FOR An Act to amend the Grain Industry (Restructuring) Act 1991 Grain Industry (Restructuring) Amendment The Parliament of Queensland enacts— 1 Short title 2 Clause1. This Act may be cited as the Grain Industry (Restructuring) 3 Amendment Act 1993. 4 Amended Act 5 Clause2. The Grain Industry (Restructuring) Act 1991 is amended as set 6 out in this Act. 7 Amendment of s.2 (Objects of Act) 8 Clause3.(1) Section 2(g)— 9 omit. 10 (2) Section 2(h) and (1)— 11 renumber as section 2(g) and (h). 12 Omission of Part 5 (ss.54—9) 13 Clause4, Part 5— 14 omit. 15 Replacement of s.91 (Regulations) 16 Clause5. Section 91— 17 omit, insert— 18 'Regulations 19 *91. The Governor in Council may make regulations for the purposes of 20 this Act.'. 21 Grain Industry (Restructuring) Amendment Amendment of Schedule 1 (Repeals and Transitional Provision) 1 Clause6.(1) Schedule 1, clause 3(4)— 2 omit. 3 (2) Schedule 1— 4 insert— 5 'Winding-up of former hail compensation schemes 6 '4.(1) The Hail Compensation (Wheat) Fund and the Hail Compensation 7 (Barley) Fund are terminated and any amount standing to the credit of the 8 Funds at the termination date vests absolutely in Grainco. 9 '(2) The hail compensation schemes maintained by Grainco under Part 5 10 before the termination date are abolished. 11 (3) However— 12 (a) any right to compensation ("accrued compensation") that had 13 accrued under section 58 before the termination date may be 14 enforced against Grainco; and 15 (b) any accrued compensation payable by Grainco after the 16 termination date is to be paid out of Grainco's general funds. 17 '(4) In this section— 18 "termination date" means the day on which the Grain Industry 19 (Restructuring) Amendment Act 1993 commences.'. 20 © State of Queensland 1993