Commonwealth Numbered Acts

PRIMARY INDUSTRIES AND ENERGY RESEARCH AND DEVELOPMENT AMENDMENT ACT 1991 No. 109, 1991 - SECT 7

7. Before section 31 of the Principal Act the following section is inserted:
Payments to R & D Corporation established in respect of the wool industry

"30B. (1) Where all the tax imposed by the Wool Tax Acts in a financial year
on particular shorn wool (other than carpet wool) has been received by the
Commonwealth, there is payable to the R & D Corporation in respect of the wool
industry an amount equal to such percentage of the sale value of that shorn
wool as is applicable having regard to:

   (a)  if paragraph (b) does not apply - the percentage of the sale value of
        shorn wool (other than carpet wool) subject to tax specified in the
        recommendation made by the last annual general meeting of the
        Corporation in respect of that financial year; or

   (b)  if the Minister has notified the Corporation under section 89A that,
        instead of the percentage of the sale value of shorn wool (other than
        carpet wool) subject to tax recommended by the annual general meeting,
        another percentage of that sale value was used in computing the rates
        of tax applicable in respect of shorn wool (other than carpet wool)
        under the Wool Tax Acts in respect of that financial year - that other
        percentage.

"(2) Where all the tax imposed by the Wool Tax Acts in a financial year on
particular carpet wool has been received by the Commonwealth, there is payable
to the R & D Corporation in respect of the wool industry an amount equal to
such percentage of the sale value of that carpet wool as is applicable having
regard to:

   (a)  if paragraph (b) does not apply - the percentage of the sale value of
        carpet wool subject to tax specified in the recommendation made by the
        last annual general meeting of the Corporation in respect of that
        financial year; or

   (b)  if the Minister has notified the Corporation under section 89A that,
        instead of the percentage of the sale value of carpet wool subject to
        tax recommended by the annual general meeting, another percentage of
        that sale value was used in computing the rates of tax applicable in
        respect of carpet wool under the Wool Tax Acts in respect of that
        financial year - that other percentage.

"(3) In spite of subsections (1) and (2), where all the tax imposed by the
Wool Tax Acts in the financial year commencing on 1 July 1991:

   (a)  on particular shorn wool (other than carpet wool); or

   (b)  on particular carpet wool; has been received by the Commonwealth,
        there is payable to the R & D Corporation in respect of the wool
        industry an amount equal to such percentage of the sale value of that
        shorn wool (other than carpet wool) or of that carpet wool (as the
        case may be) as is applicable under the regulations.

"(4) There are also payable to the R & D Corporation in respect of the wool
industry amounts equal to half of the amounts required to be spent by the
Corporation under section 33 (other than paragraph 33 (1) (d)).

"(5) Amounts payable under this section are to be paid out of the Consolidated
Revenue Fund, which is appropriated accordingly.".