Commonwealth Numbered Acts

PRIMARY INDUSTRIES AND ENERGY RESEARCH AND DEVELOPMENT AMENDMENT ACT 1991 No. 109, 1991 - SECT 11

11. Section 60 of the Principal Act is amended:
(a) by inserting in paragraph (d) "subject to subsection (2)" before "to
debate";

   (b)  by adding at the end the following subsections:

"(2) The motions that may be debated and voted upon at a annual general
meeting of the R & D Corporation in respect of the wool industry are the
following:

   (a)  any motion relating to a matter within the Corporation's
        responsibilities;

   (b)  any motion relating to a recommendation referred to in subsection (3)
        that is to be made to the Minister in relation to the rates of tax to
        be prescribed for the purposes of each of the Wool Tax Acts;

   (c)  any motion of no confidence in the Chairperson or in the Corporation.

"(3) For the purposes of paragraph (2) (b), the recommendations are:

   (a)  a recommendation that:

   (i)  an amount equal to a specified percentage of the sale value of shorn
        wool (other than carpet wool) subject to tax be paid by the
        Commonwealth to the Corporation during the next financial year for
        research and the other purposes of the Corporation; and

   (ii) accordingly, a specified rate of tax (expressed as a percentage of the
        sale value of shorn wool (other than carpet wool) subject to tax and
        being the percentage recommended under subparagraph (i)) be taken into
        account in computing the rate of tax that is to be prescribed in
        respect of shorn wool (other than carpet wool) for the purpose of the
        application of each of the Wool Tax Acts in respect of the next
        financial year; and

   (b)  a recommendation that:

   (i)  an amount equal to a specified percentage of the sale value of carpet
        wool subject to tax be paid by the Commonwealth to the Corporation
        during the next financial year for research and the other purposes of
        the Corporation; and

   (ii) accordingly, a specified rate of tax (expressed as a percentage of the
        sale value of carpet wool subject to tax and being the percentage
        recommended under subparagraph (i)) be taken into account in computing
        the rate of tax that is to be prescribed in respect of carpet wool for
        the purpose of the application of each of the Wool Tax Acts in respect
        of the next financial year.".