The objectives of this Act are: (a) to foster the development of a more profitable farm sector that is able to operate competitively in a deregulated financial and market environment; (b) to improve the competitiveness of the farm sector in a sustainable manner. In order to achieve those objectives, this Act provides for support to farmers through: (i) grants for purposes of subsidies for interest payable on, and associated costs of, loans, whether loans are provided by the State or by another person; and (ii) grants for the purposes of farm training, planning, appraisal, support services and rural adjustment research. The Act also provides for support for farmers who intend to leave the farm sector. Section 5 provides for the establishment of the Rural Adjustment Scheme Advisory Council. Act No. 10 of 1999 introduces a new Part (4) on the Farm Business Improvement Program. (38 sections)
Australia · 1992-12-24