The North of Scotland Milk Marketing Board (Residual Functions) Regulations 1994

Financial provisions and payment for milk

20.—(1) Section 24(5) of the marketing scheme is preserved, subject to the modification that–

(a) after the words “rendered to him” there shall be inserted the words “in the final trading period”; and

(b) after the word “registered” there shall be inserted the words “end year”.

(2) Section 24(6) of the marketing scheme is preserved, subject to the modification that–

(a) after the word “registered” there shall be inserted the words “end year”; and

(b) after the words “sold by them” there shall be inserted the words “in the final trading period”.

(3) Section 24(7) of the marketing scheme is preserved, subject to the modification that–

(a) after the word “registered”, wherever occurring, there shall be inserted the words “end year”;

(b) the figure “(4),” shall be omitted; and

(c) the words “under section 25 of the Scheme” shall be omitted.

(4) Section 24(9) of the marketing scheme is preserved, subject to the modification that–

(a) for the words “in any accounting period” there shall be substituted the words “in the final trading period”;

(b) the figure “(4)” shall be omitted;

(c) the words “to provide reserves and” and the words “, or brought forward from a previous accounting period,” shall be omitted;

(d) after the word “registered”, wherever occurring, there shall be inserted the words “end year”; and

(e) before the word “fund” there shall be inserted the word “general”.

(5) Section 24(9A) and (9B) of the marketing scheme is preserved, subject to the modification that–

(a) in subsection (9A)–

(i) the words “(a) sums set aside by the Board under subsection (8)(a) hereof and not deducted under subsection (9) hereof, and (b)” shall be omitted;

(ii) for the words “that accounting”, wherever occurring, there shall be substituted the words “the final trading”;

(iii) after the word “registered” there shall be inserted the words “end year”; and

(iv) for the word “Scheme” there shall be substituted the words “marketing scheme”; and

(b) in subsection (9B)–

(i) after the word “registered” there shall be inserted the words “end year”; and

(ii) for the words “pool price” there shall be substituted the words “producers' price”.

(6) Section 24(10) of the marketing scheme is preserved, subject to the modification that–

(a) after the words “obtain loans” there shall be inserted the words “or advances”; and

(b) the words from “the Agricultural Marketing (Scotland) Fund” to “and other” shall be omitted;

(c) before the word “persons” there shall be inserted the word “any”; and

(d) after the words “from banks” there shall be inserted the words “or building societies”.

(7) Section 24(11) of the marketing scheme is preserved, subject to the modification that–

(a) after the words “credit of the” there shall be inserted the word “general”;

(b) the words “or any reserve” shall be omitted;

(c) after the words “in any bank” there shall be inserted the words “or building society”; and

(d) for the words “, but, except” to the end of the subsection there shall be substituted the words “in such manner as they may determine.”