Palm Oil Industry Stabilization Funds Act 1983. Country/Territory Papua New Guinea Document type Legislation Date 1983 (2006) Source FAO, FAOLEX Long titleBeing an Act to provide for the establishment of stabilization funds in the palm oil industry and for their administration and for related purposes. Subject Cultivated plants Keyword Agricultural development Institution Special fund Oleaginous plants Subsidy/incentive Geographical area Oceania, Small Island Developing States Abstract The Minister may, after consultation with appropriate Palm Oil Producers' Associations, order the creation of stabilization funds for participants in oil palm schemes (sect. 3). The purpose of the establishment of stabilization funds is, by a system of imposition of levies and payment of bounties, to ensure that there is long-term income equalization for oil palm growers despite fluctuations of world market prices. The Palm Oil Industry Stabilization Funds Board of Management is established unde Full text English Website www.paclii.org