916
THE NEW ZEALAND GAZETTE.
[No. 30

PART IV.—SALES OF WHEAT BY THE GOVERNMENT.

26. No sales of wheat shall be made by a Government broker on account of the Government except to persons holding a warrant issued by the Wheat Controller authorizing the holder to purchase wheat, and hereinafter referred to as a wheat-purchase warrant.

27. Every such warrant will contain such conditions and restrictions as the Wheat Controller thinks fit, and no sale shall be made to the holder otherwise than in conformity with these conditions and restrictions.

28. Every wheat-purchase warrant may be cancelled at any time for any reason which the Controller in his absolute discretion thinks sufficient.

29. No such warrant shall be transferable.

30. The Wheat Controller will in his absolute discretion allocate to each flour-mill in New Zealand its due quota of the total quantity of good milling-wheat estimated by him from time to time to be available during the year 1920, and the wheat-purchase warrants issued by the Controller to flour-millers will be based on the quota as so determined for the time being.

31. Each flour-miller will be required to purchase and take delivery of his full quota of wheat as soon as is practicable in the discretion of the Wheat Controller, and this obligation will be enforced by the Wheat Controller by withholding or cancelling the wheat-purchase warrant of any flour-miller who makes default herein.

32. Flour-millers will be required in purchasing wheat to purchase and take delivery of different kinds or qualities of good milling-wheat in such proportions as the Wheat Controller may from time to time determine, having regard to the respective quantities of such kinds or qualities available, and all Government brokers shall in effecting sales of wheat observe all directions given to them by the Wheat Controller in this behalf.

33. The price at which wheat is so sold by a Government broker on account of the Government shall be the price per bushel at which it was purchased by the broker on account of the Government, with the addition of 1½d. per bushel, together with the price of the sacks as aforesaid.

34. 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 shipping documents, or cash within seven days after delivery. All purchase-money in arrear and unpaid shall bear interest at the rate of 8 per centum per annum.

35. 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.

36. 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.

37. 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.

38. 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.

39. 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 applicable to contracts of sale, and the rights and obligations of the parties shall be determined accordingly.

PART V.—TERMS OF EMPLOYMENT OF BROKERS.

40. 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.

41. In respect of every contract for the sale 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.