Rural and Regional Adjustment (Development Assistance) Amendment Bill 2016* (Qld)

An Act to amend the Rural and Regional Adjustment Act 1994 for particular purposes The Parliament of Queensland enacts—

1 Short title This Act may be cited as the Rural and Regional Adjustment (Development Assistance) Amendment Act 2016 .

2 Act amended This Act amends the Rural and Regional Adjustment Act 1994 .

3 Amendment of s 3 (Object of Act) (1) Section 3(1), 'QRAA primarily to'— omit, insert — RIDB primarily to give financial assistance and (2) Section 3(2), 'QRAA'— omit, insert — RIDB (3) Section 3(2)(a), 'administering schemes to give assistance'— omit, insert— giving financial assistance, and administering schemes to give financial assistance,

4 Amendment of s 4 (Definitions) (1) Section 4— insert— financial arrangements means arrangements involving or related to— (a) borrowing or raising money, including by securities issued or guaranteed by the State or the Commonwealth; and (b) lending money; and (c) investing money; and (d) restructuring a debt; and (e) restructuring— (i) the business of a primary producer; or (ii) a small business. financial assistance includes a loan of money. RIDB means the Rural and Industries Development Bank. (2) Section 4, definition authority, 'QRAA'— omit, insert — RIDB (3) Section 4, definition authority's assistance funds, paragraph (a), 'under approved schemes'— omit. (4) Section 4, definition authority's assistance funds, paragraph (c)— omit, insert— (c) borrowed or raised by the authority; or (d) earned on— (i) the investment by the authority of the amounts mentioned in paragraphs (a) to (c); or (ii) loans made, whether before or after the commencement of this Act, in giving financial assistance.