Sugar Industry Reserve Fund Act (Act RL 5/371 of 1927)

SUGAR INDUSTRY RESERVE FUND ACT RL 5/371-25 October 1927 ARRANGEMENT OF SECTIONS 1 Short title 1A Interpretation 2 Special export duty 3 Proceeds of duty to form a Fund 5 6 7 8 The Committee Appointment of officers Meetings of Committee Application of Fund 4 Administration of the Fund 1 Short title This Act may be cited as the Sugar Industry Reserve Fund Act. 1A Interpretation In this Act "Committee" means the Sugar Reserve Fund Committee; "fund" means the Sugar Industry Reserve Fund. 2 Special export duty 475 A special export duty of 5 cents of a rupee per 50 kilogrammes shall be levied on all sugar exported from Mauritius. 3 Proceeds of duty to form a Fund The proceeds of the duty shall, as and when collected, be paid by the Accountant­ General to the Committee and shall form the Sugar Industry Reserve Fund. 4 Administration of the Fund The Sugar Reserve Committee shall­ (a) be a body corporate; and (b) have the general administration of the Fund. 5 The Committee (1) The Committee, which shall not exceed 15 members, shall consist of a Chairman, and of such other members as may be annually appointed by the Chamber of Agriculture. (2) (a) The President of the Chamber of Agriculture shall be exofficio Chairman of the Committee. (bl In his absence the members present shall elect a Chairman. (c) The Committee shall be legally constituted notwithstanding any vacancy in it, if the number of members is not less than 8. (d) The Chamber of Agriculture may appoint another person to fill up every vacancy. 6 Appointment of officers (1) The Committee shall appoint a Secretary and such other officers as may be necessary, all of whom shall receive the salaries rixed by the Committee. (2) The Secretary shall keep minutes of the proceedings of the meetings of the Committee. 7 Meetings of Committee The Committee shall meet at such place as may be found convenient as often as ma~ be necessary, the meetings being convened by the Secretary on the instructions of the Chairman who may be required to call a meeting at the request of any 3 members. 8 Application of the Fund The Fund shall (a) subsidize anrl eni:-0vrapr PY!~~rimPr,t.,I ;,,~t;ifl;:,ti0n of 1'11'>1.'' m:,r!',in::>!"'•' '·· • ·--.:-r vi,; -- ' r