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AGRICULTURAL AND LIVESTOCK DEVELOPMENT FUND ACT.

ARRANGEMENT OF SECTIONS.

   Section

INTERPRETATION.

   1.   Interpretation.

ESTABLISHMENT, SEAL AND FUNCTIONS OF THE FUND.

   2.   Establishment and seal of the fund.

   3.   Functions of the fund.

THE BOARD.

   4.   The board of the fund.

   5.   Meetings of the board.

   6.   Remuneration of members, etc.

STAFF.

   7.   General manager.

   8.   Staff of the board.

FINANCIAL PROVISIONS.

   9.   Monies of the fund.

   10.   Borrowing powers.

   11.   Loans to farmers.

   12.   Estimates.

   13.   Fund to operate on sound financial principles.

   14.   Investment.

   15.   Accounts and audit.

MISCELLANEOUS.

   16.   Minister's power of direction.

   17.   Annual reports.

   18.   Regulations.

CHAPTER 233
AGRICULTURAL AND LIVESTOCK DEVELOPMENT FUND ACT.

Commencement: 26 March, 1976.

   An Act to establish an Agricultural and Livestock Development Fund and to provide for other matters connected therewith or incidental thereto.

INTERPRETATION.

1.   Interpretation.

   In this Act, unless the context otherwise requires—

   (a)   "board" means the governing body constituted under section 4;

   (b)   "chairperson" means the person appointed as such under section 4(7);

   (c)   "farmer" means a person who engages himself or herself in crop or livestock production;

   (d)   "financial year" means the period of 12 months ending on the 31st"> day of December, or such other period of 12 months as the Minister may by writing under his or her hand authorise the fund to adopt as its financial year;

   (e)   "fund" means the Agricultural and Livestock Fund established under section 2;

   (f)   "general manager" means the person appointed as such under section 7;

   (g)   "loan" means a loan advanced under this Act;

   (h)   "member" or "member of the board" includes the chairperson.

ESTABLISHMENT, SEAL AND FUNCTIONS OF THE FUND.

2.   Establishment and seal of the fund.

   (1) There is established a fund to be known as the Agricultural and Livestock Development Fund.

   (2) The fund shall be a body corporate having perpetual succession and a common seal, and may sue or be sued in its corporate name, and may, in connection with the purposes of this Act, purchase, hold, manage and dispose of any property, and enter into such contracts as may be necessary or expedient.

   (3) The application of the seal of the fund shall be authenticated by the signature of the chairperson, the general manager and a member of the board designated for that purpose by the board.

   (4) In the absence of the chairperson, two other members may be appointed by the board to sign in his or her place, and any person performing the functions of the general manager may sign in the absence of the general

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