Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Minister, on behalf of the Commonwealth, may enter into a contract with an eligible body (or with an eligible body and other persons) that provides for the Commonwealth to make payments of the following kinds to the body:
(a) payments referred to as marketing payments ;
(b) payments referred to as R&D payments ;
(c) payments made in respect of particular financial years, referred to as matching payments .
For this purpose, eligible body means a body that is registered under the Corporations Act 2001 as a company limited by guarantee.
Note: After a contract has been entered into, the eligible body can be declared as the industry services body under section 11.
(2) Before entering into the contract, the Minister must be satisfied that the terms of the contract make adequate provision to ensure that:
(a) marketing payments are spent by the body on marketing, promotion, strategic policy development or other activities, for the benefit of the Australian pig industry; and
(b) R&D payments are spent by the body on research and development activities for the benefit of the Australian pig industry; and
(c) matching payments are spent by the body on:
(i) research and development activities for the benefit of the Australian pig industry and the Australian community generally; and
(ii) making payments to the Commonwealth under subsection 10(8).
(3) The contract does not have to oblige the Commonwealth to pay the full amounts that could be paid out of the money appropriated under section 10.
(4) The contract may include provisions relating to assets and liabilities that are transferred to the eligible body under Division 4. This subsection does not impliedly limit the matters that may be included in the contract.
(5) This section does not impliedly limit the executive power of the Commonwealth to enter into agreements.