Bill returned from Main Committee with amendments, appropriation message having been reported; certified copy of bill and schedule of amendments presented.

Ordered that the bill be taken into consideration forthwith.

Main Committee's amendments—

(1)   Schedule 5, page 11 (after line 3), before item 1, insert:

1AA Subsection 3(2)

Insert:

exempt livestock proceeds means proceeds of a forced disposal of farm livestock by a person at a time when a drought exceptional circumstances certificate referred to in section 8A applied to the person, to the extent to which the proceeds are invested in:

   (a)   a deposit under the Loan (Income Equalization Deposits) Act 1976 ; or

   (b)   a deposit with a term of at least 3 months with a bank, building society, credit union or other institution that receives money on deposit.

(2)   Schedule 5, page 11 (after line 9), after item 2 insert:

2A At the end of section 24A

Add:

   (3)   In calculating a rate referred to in subsection (1), exempt livestock proceeds are to be disregarded.

2B Application

The amendment made by item 2A applies to the proceeds of disposals that occur after the commencement of this Schedule.

Amendments agreed to.

Bill, as amended, agreed to.