DEC. 10.] THE NEW ZEALAND GAZETTE. 4163
REGULATION 11.-EXPORT WHEAT.
(1) The Board may sell wheat for export subject-(a) To the condition that no wheat disposed of under these
regulations shall be resold or offered for resale within
New Zealand:(b) To such further conditions as the Board may think fit
to impose, including a condition that the wheat shall
be exported within a prescribed time.
(2) Any person having purchased from the Board wheat for
export who sells such wheat or offers the same for sale, or
permits the same to be sold in New Zealand, or who fails to
export such wheat or to cause the same to be exported from
New Zealand within the time (if any) prescribed by the Board,
or who fails to comply with any other conditions imposed by
the Board, commits an offence against these regulations.
REGULATION 12.-BORROWING.
The Board may from time to time at its discretion raise or
borrow any sum or sums of money for the better carrying-out
of any of the purposes of the Board (but so that no lender or
other person dealing with the Board shall be concerned as to
the application or be affected by the misapplication of any
sums so raised or borrowed), and to give for the repayment of
any such moneys and the payment of interest thereon such
security over wheat belonging to the Board or over any other
property of the Board as the Board may think fit, and from
time to time to redeem, pay off, or replace any such securities.
REGULATION 13.-APPLICATION OF PROCEEDS.(1) All moneys received by the Board from the sale of
wheat or any other source of revenue shall be applied by the
Board in the first place in payment of the expenses incurred
by the Board in carrying out the provisions of these regulations,
including clerical expenses, commission to authorized brokers,
and remuneration to brokers and other persons for services
rendered to the Board, fees to authorized graders, and a
reasonable remuneration to the members of the Board, in-
cluding the payment of all expenses of such members of and
incidental to attending meetings of the Board, or allowances
in respect of such expenses, and in the next place in payment
for wheat purchased by the Board.
(2) The balance of the funds of the Board shall, as soon as
may be after the close of the 1934-35 season, be divided
amongst the sellers of wheat to the Board to the nearest
workable fraction in proportion to the quantities of wheat
sold by them to the Board.
(3) The Board may at any time make an interim division
of any part of its funds on account of the division directed to
be made by the last preceding clause hereof.
(4) Any moneys payable by the Board to a seller of wheat
pursuant to this regulation may, in the Board's discretion,
be paid on his behalf to any authorized broker through whom
any wheat of such seller has been purchased by the Board,
and the receipt of such broker shall be a good and sufficient
discharge to the Board for all moneys so paid.
(5).Any balance in the hands of the Board which-
(a) Has arisen from undistributed fractions; or
(b) Is held for the credit of sellers whom the Board is
unable to trace within such time as the Board may
in its discretion fix,-shall be paid to such institution assisting to further the
interests of agriculture in general and of wheatgrowing in
particular, as the Board may select, or may be divided in the
Board's discretion amongst any two or more of such in-
stitutions in such sums or shares as the Board may decide.
REGULATION 14.-1933-34 REGULATIONS.
(1) Save as hereinafter provided, the Board of Trade
(Wheat) Regulations, 1933-34 (hereinafter referred to as "the
1933-34 Regulations ") are revoked as from the date of the
coming into force of these regulations.
(2) The Wheat Purchase Board incorporated under these
Regulations shall continue the administration and winding-
up of the wheat-marketing scheme established by the 1933-34
Regulations, and shall for such purpose have all the powers
and duties imposed upon the Board established under the
1933-34 Regulations in addition to the powers conferred and
duties imposed by these regulations.
(3) The Board shall complete the winding-up of the said
wheat-marketing scheme as expeditiously as circumstances
will permit, and shall apportion equitably between the 1933-34
and 1934-35 wheat-marketing schemes all expenses of and
incidental to each.
(4) The Board may, in its discretion, use the funds of
the 1933-34 scheme temporarily for the carrying-on of the
1934-35 scheme, including the purposes set out in clause (6)
of this regulation, but subject to proper adjustment and
repayment as circumstances shall permit.
(5) The Board's decision on any matter of and incidental to
adjustment between the 1933-34 and 1934-35 wheat-marketing
schemes, whether as to expenses and use of funds as aforesaid
or otherwise, shall be final.
(6) In order to complete the administration and winding-up
of the 1933-34 wheat-marketing scheme, the Board shall
have power, in its discretion, to take over on behalf of the
1934-35 scheme any surplus 1933-34 wheat remaining on
its hands. Such taking-over shall be at a valuation to be fixed
by the Board after taking into account all relevant circum-
stances, including cost of storage. Any money in the Board's
hands under the 1934-35 scheme shall be available for the
payment of the price of the wheat taken over, and the wheat
so taken over shall become part of the stocks of the 1934-35
scheme.
(7) Notwithstanding the revocation of the 1933-34 Regula-
tions, all rights existing or arising thereunder and all liabilities
and duties imposed thereby shall continue until the wheat-
marketing scheme established thereunder shall be fully wound
up and all rights duly satisfied, and all liabilities and duties
duly discharged and performed. All offences heretofore com-
mitted against the 1933-34 Regulations shall continue to be
punishable as therein provided, and shall be unaffected by the
revocation thereof.
(8) All actions, proceedings, contracts, notices, and other
matters commenced by or against, or entered into or done by
or with, the Board constituted under the 1933-34 Regulations
shall enure against or for the benefit of the Board constituted
under these regulations as if commenced, entered into, or done
by or against, or with the Board constituted under these
regulations, and all the assets, rights, and liabilities of the
Board constituted under the 1933-34 Regulations shall devolve
upon the Board constituted under these regulations, subject
to apportionment by the Board pursuant to clause (3) of this
regulation.
(9) All wheat-purchase warrants, and all conditions and
restrictions therein, and all consents and appointments, and
generally all acts of authority of the Board constituted under
the 1933-34 Regulations shall enure as if they had originated
as acts of authority of the Board constituted under these
regulations, and shall, so far as they are henceforth capable of
taking effect, continue in force as if they had so originated,
and shall continue to be binding accordingly.
REGULATION 15.-AUDIT AND ACCOUNTS.
(1) The financial accounts of the Board shall be kept in such
form as the Board, with the approval of the Controller and
Auditor-General, may decide.
(2) The said accounts shall be subject to audit by the Audit
Office as if the Board were a local authority within the meaning
of section 124 of the Public Revenues Act, 1926, and Part XIV
of that Act shall accordingly apply, subject to the express
provisions of this regulation.
(3) The expenses of such audit shall from time to time be
determined by the Controller and Auditor-General, and when
so determined shall be recoverable as a debt due to the Crown
and be a first charge on the funds of the Board.
(4) A summary of the accounts of the Board, duly audited,
shall be published at such time and in such manner as the
Minister may from time to time direct.
REGULATION 16.-OFFENCES.
(1) Every person shall be guilty of an offence against these
regulations, and shall be liable accordingly, who does, or
attempts, or conspires to do any act declared by these regula-
tions to be unlawful.
(2) Every authorized broker shall be guilty of an offence
against these regulations, and shall be liable accordingly, who
commits any wilful breach of his contract with the Board
under these regulations.
(3) Every seller of wheat to the Board or purchaser of wheat
from the Board under these regulations who commits a wilful
breach of his contract with the Board shall be guilty of an
offence against these regulations, and shall be liable
accordingly.
(4) Every person who being a servant or agent of any
authorized broker, or of any such seller or purchaser of wheat,
wilfully does any act whereby or in consequence of which such
authorized broker, seller, or purchaser breaks his contract
with the Board, shall be guilty of an offence against these
regulations, and shall be liable accordingly.
(5) Every person who deceives or attempts to deceive an
authorized broker or the Board in the exercise of its functions
under these regulations shall be guilty of an offence against
these regulations, and shall be liable accordingly.
(6) Every person who incites, aids, abets, counsels, or
procures any other person, or conspires with any other person
to commit an offence against these regulations, shall be guilty
of an offence against these regulations, and shall be liable
accordingly.
(7) Every person who fails to make in accordance with these
regulations any return required thereby or in pursuance
thereof, or who makes any such return which is false or
misleading in any particular, shall be guilty of an offence
against these regulations, and shall be liable accordingly.
A. W. MULLIGAN,
Acting Clerk of the Executive Council.
(I. and C. 26/76.)
By Authority : G. H. Loney, Government Printer, Wellington.
Price 6d.]