Cane Farmers Special Funds Act (Cap. 69:09)

L.R.O. 1/2012 LAWS OF GUYANA CANE FARMERS SPECIAL FUNDS ACT CHAPTER 69:09 Act 20 of 1974 Amended by 17 of 1991 1 – 6 ... 1/2012 (inclusive) by L.R.O. Pages Authorised Current Authorised Pages LAWS OF GUYANA 2 Cap. 69:09 Cane Farmers Special Funds L.R.O. 1/2012 Note on Subsidiary Legislation This Chapter contains no subsidiary legislation. LAWS OF GUYANA Cane Farmers Special Funds Cap. 69:09 3 L.R.O. 1/2012 CHAPTER 69:09 CANE FARMERS SPECIAL FUNDS ACT ARRANGEMENT OF SECTIONS SECTION 1. Short title. 2. Interpretation. 3. Establishment of the Cane Farmers Rehabilitation Fund. 4. Source of the Cane Farmers Rehabilitation Fund. 4A. Establishment of the Cane Farmers Price Stabilisation Fund. 4B. Source of the Cane Farmers Price Stabilisation Fund. 5. Regulations. 6. Report. 7. Exemption from income tax. 20 of 1974 An Act to make provision for the establishment for the benefit of cane farmers of the Cane Farmers Price Stabilisation Fund and the Cane Farmers Rehabilitation Fund and for purposes connected therewith. [1ST JANUARY, 1974] Short title. [17 of 1991] Interpretation. [17 of 1991] c. 69:04 1. This Act may be cited as the Cane Farmers Special Funds Act. 2. In this Act— “Committee” and “manufacturer” have the respective meanings assigned to them in the National Cane Farming Committee Act; “farmer” means any person engaged in the cultivation of sugar cane for sale to a manufacturer and pursuant to which sale the terms of the contract relating thereto permit, when computing the price to be paid thereunder, LAWS OF GUYANA 4 Cap. 69:09 Cane Farmers Special Funds L.R.O. 1/2012 c. 69:03 Establishment of the Cane Farmers Rehabilitation Fund. [17 of 1991] Source of the Cane Farmers Rehabilitation Fund. [17 of 1991] c. 69:03 Establishment of the Cane Farmers Price Stabilisation Fund. [17 of 1991] c. 69:03 Source of the Cane Farmers Price Stabilisation the taking into account of payments to be made by an exporter under the Sugar Industry Special Funds Act; “the Funds” means the funds established under sections 3 3. There is hereby established a Fund to be known as the Cane Farmers Rehabilitation Fund to which, upon the coming into operation of this Act, there shall be transferred by the Secretary to the Treasury from the Sugar Industry Rehabilitation Fund established under the Sugar Industry Special Funds Act, the sum of five hundred thousand dollars. consist of— (a) the sum transferred thereto pursuant to section 3; (b) such other sums as may from time to time, be received pursuant to the Sugar Industry Special Funds Act; and (c) sums accruing by way of interest on or investments of moneys of the fund deposited or invested. 4A. There is hereby established a fund to be known as the Cane Farmers Price Stabilisation Fund to which, upon the coming into operation of this Act, there shall be transferred by the Secretary to the Treasury from the Sugar Industry Price Stabilisation Fund established under the Sugar Industry Special Funds Act the sum of $382,960.00. 4B. The Cane Farmers Price Stabilisation Fund shall consist of— (a) the sum transferred thereto pursuant to section 4A; and 4A. 4. The Cane Farmers Rehabilitation Fund shall LAWS OF GUYANA Cane Farmers Special Funds Cap. 69:09 5 L.R.O. 1/2012 Fund. [17 of 1991] Regulations. [17 of 1991] (b) such other sums as may from time to time, be received pursuant to the Sugar Industry Special Funds Act; and (c) sums accruing by way of interest on investments of monies of the fund deposited or invested. 5. (1) The Committee may, with the approval of the Minister, make regulations to provide for the following matters— (a) the purposes to which the sums standing to the credit of the Funds may be applied; (b) the basis and the conditions on which disbursements from the Funds shall be allowed and authorised, and the procedure which shall govern the making of such disbursements; (c) the keeping of proper records and the keeping and rendering of detailed accounts by the Committee in relation to the Funds; (d) the rendering by the Comptroller of Customs to the Committee of such information as relates to the amount, destination and purchase price of sugar exported by each exporter for any specified period; (e) the rendering by each manufacturer of detailed information for any specified period relating to the quantity of sugar cane purchased from farmers and the quantity of LAWS OF GUYANA 6 Cap. 69:09 Cane Farmers Special Funds L.R.O. 1/2012 Sub-leg. c. 69:04 Report. [17 of 1991] Exemption from income tax. [17 of 1991] c. 81:01 sugar produced therefrom; and (f) the rendering by each manufacturer of information as to the sums deducted during any specified period in accordance with rule 11(2) of the Cane Farmers Contract (General Conditions) Rules or pursuant to any terms of sale of like effect as such rule between a farmer and a manufacturer. (2) Any regulations made under subsection (1) may provide for such qualifications, exceptions and conditions as the Committee may think fit. 6. The Committee shall not later than six months after the end of each calendar year submit to the Minister a report containing— (a) a statement of all of their transactions throughout the year in such detail as the Minister may direct; (b) a statement of the accounts of the Committee in respect of the Funds audited as prescribed together with such other reports as may be required by the Minister. 8. Notwithstanding anything contained in the Income Tax Act, the Committee is exempt from income tax in respect of any income accruing to the Funds.