Commonwealth Numbered Acts

PRIMARY INDUSTRIES AND ENERGY RESEARCH AND DEVELOPMENT AMENDMENT ACT 1991 No. 109, 1991 - SECT 16

16. After section 89 of the Principal Act the following section is inserted:
Minister to notify R & D Corporation in respect of wool industry about
variation in rate of tax recommended by general meeting

"89A. (1) In this section: `relevant rate of tax' means the rate of tax
prescribed in respect of shorn wool (other than carpet wool) or carpet wool
for the purposes of the application of each of the Wool Tax Acts in respect of
a financial year.

"(2) Where a percentage of the sale value of:

   (a)  shorn wool (other than carpet wool) subject to tax; or

   (b)  carpet wool subject to tax; other than the percentage specified in a
        recommendation made by an annual general meeting of the R & D
        Corporation in respect of the wool industry in relation to the
        prescription of a relevant rate of tax, was used in computing the
        relevant rate of tax, the Minister must give written notice of that
        fact to the Corporation, specifying the percentage that was so used.".