✨ Wheat Trade Regulations
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Payment for wheat so sold and delivered shall be made by the
buyer to the Government broker on account of the Government, and the
terms of payment shall be such as may be agreed upon between the
buyer and the broker, being either cash on delivery, cash against ship-
ping documents, or cash within seven days after delivery. All pur-
chase-money in arrear and unpaid shall bear interest at the rate of
8 per centum per annum. -
When wheat is sold for delivery by instalments each instalment
shall be treated as the subject of a separate contract, and payment shall
be made accordingly. -
All moneys so received by a Government broker shall be paid by
him into the Public Account immediately on the receipt thereof, and all
moneys not so paid into the Public Account shall bear interest at the
rate of 8 per centum per annum until so paid. -
Every Government broker will guarantee to the Government the
due payment by the buyer of the purchase-money for all wheat so sold
to him by that broker, and on default made by the buyer the purchase-
money, with all accrued interest thereon, shall be recoverable by the
Government from the broker. -
After delivery to the buyer the wheat shall be in all respects at
the buyer's risk, but the property in the wheat shall not pass to the buyer
until the purchase-money has been received by the Government broker;
and on default made by the buyer the broker or the Wheat Controller
may take and retain possession of the wheat on behalf of the Government
as a security for the purchase-money. -
Every contract made by a Government broker for the sale of
wheat on account of the Government shall be made in accordance with
and shall incorporate the provisions of these regulations so far as appli-
cable to contracts of sale, and the rights and obligations of the parties
shall be determined accordingly.
PART V.--TERMS OF EMPLOYMENT OF BROKERS.
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In respect of every contract for the purchase of wheat by a
Government broker on account of the Government the broker shall be
entitled to receive from the Government a commission of ½d. for every
bushel delivered in pursuance of and in conformity with that contract. -
In respect of every contract for the sale of wheat by a Govern-
ment broker on account of the Government the broker shall be entitled to
receive from the Government a commission of ½d. for every bushel
delivered in pursuance of and in conformity with that contract. -
It shall not be lawful for a Government broker to receive, directly
or indirectly, any additional commission or remuneration from any
party other than the Government in respect of the making of any such
contract of purchase or sale; but nothing herein contained shall prevent
the broker from receiving from any such party remuneration for services
rendered in respect of storage or otherwise howsoever in addition to the
service of making the contract of purchase or sale. -
It shall not be lawful for any Government broker to give, offer,
or promise to any person any rebate, refund, commission, allowance,
gratuity, or other valuable consideration as an inducement to that person
to sell or purchase wheat to or from the Government through that broker,
or for the reason that he has so sold or purchased wheat. -
It shall not be lawful for a Government broker to purchase,
whether for himself or on account of any other person, any wheat of a
quality inferior to good milling-wheat except under the authority of a
license issued to the broker in that behalf by the Wheat Controller and
in accordance with the terms of that license. Any such license may be
at any time cancelled by the Controller for any reason which in his
absolute discretion he thinks sufficient. -
In all matters within the scope of their employment and not
specifically provided for by these regulations Government brokers shall
act in accordance with directions from time to time received from the
Wheat Controller. -
Government brokers shall from time to time make to the Wheat
Controller such returns relative to the business done by them as the
Controller may require. -
Every appointment of a Government broker shall be deemed to
incorporate, as a contract between the broker and the Government,
the provisions of these regulations so far as they relate to the rights,
powers, duties, and liabilities of such brokers.
PART VI.--DISPUTES.
- When any dispute arises as to whether any wheat offered to a
Government broker for sale to the Government is good milling-wheat,
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 1919, No 21
NZLII —
NZ Gazette 1919, No 21
✨ LLM interpretation of page content
🏭
Fixing the Maximum Price of Wheat of the Season 1918–1919
(continued from previous page)
🏭 Trade, Customs & IndustryWheat, Trade Regulations, Government Purchase, Sale, War Regulations Act