Commonwealth Numbered Acts

PRIMARY INDUSTRIES LEGISLATION AMENDMENT ACT (No. 2) 1991 No. 125, 1991 - SECT 12

12. After section 89A of the Principal Act the following sections are
inserted: Payment to R & D Corporation in respect of the wool industry - where
wool tax imposed before 1 July 1991 is received on or after that day

"89B.(1) Where:

   (a)  tax or additional tax imposed, at any time before 1 July 1991, by a
        Wool Tax Act on particular shorn wool is received by the Commonwealth
        on or after that day; and

   (b)  if the Wool Marketing Act 1987 were still in force at the time when
        the tax or additional tax is received, amounts would be payable to the
        Corporation (within the meaning of that Act) under section 47 of that
        Act: there is payable to the R & D Corporation in respect of the wool
        industry:

   (c)  an amount equal to the amount that would be payable under paragraph
        47(1)(c) of that Act if that Act were still in force; and

   (d)  the amount that would be payable by way of interest if interest were
        payable on the amount referred to in paragraph (c), at the rate
        determined by the Minister, in respect of the period commencing on the
        day determined by the Minister and ending on the day on which the
        amount payable under this subsection is paid.

"(2) Where:

   (a)  an amount (being an amount equal to an amount that would be payable
        under paragraph 47(1)(c) of the Wool Marketing Act 1987 if that Act
        were in force) has been paid to the R & D Corporation in respect of
        the wool industry under subsection (1); and

   (b)  if the Wool Marketing Act 1987 were in force, an amount (in this
        subsection called the `matching amount') would be payable into the
        Research Fund (within the meaning of that Act) under paragraph
        93(1)(b) of that Act because of the amount that would have been paid
        under paragraph 47(1)(c) of that Act; there is payable to that
        Corporation an amount equal to the matching amount.

"(3) Money payable to the R & D Corporation in respect of the wool industry
under subsection (1) or (2) is payable out of the Consolidated Revenue Fund,
which is appropriated accordingly.

"(4) A determination under paragraph (1)(d):

   (a)  must be in writing; and

   (b)  is a disallowable instrument for the purposes of section 46A of the
        Acts Interpretation Act 1901. Interest payable to R & D Corporation in
        respect of the wool industry where certain amounts payable under
        repealed Act remained upon on 30 June 1991

"89C.(1) Where:

   (a)  an amount that was payable under paragraph 47(1)(c) of the Wool 
        Marketing Act 1987 was paid to the Commission after 30 June 1991; and

   (b)  under regulations made under the
        Australian Wool Realisation Commission  Act 1991 , the Commission has
        paid to the R & D Corporation in respect of the wool industry an
        amount (in this subsection called the `transferred amount') equal to
        that amount; the Commonwealth must pay to that Corporation the amount
        that would be payable by way of interest if interest were payable on
        the transferred amount, at the rate determined by the Minister, in
        respect of the period commencing on the day determined by the Minister
        and ending on the day on which the transferred amount was paid.

"(2) Money payable to the Corporation under subsection (1) is payable out of
the Consolidated Revenue Fund, which is appropriated accordingly.

"(3) A determination under subsection (1):

   (a)  must be in writing; and

   (b)  is a disallowable instrument for the purposes of section 46A of the
        Acts Interpretation Act 1901.

"(4) In subsection (1): `Commission' means the body corporate that:

   (a)  existed under the Wool Marketing Act 1987 with the name Australian
        Wool Corporation; and

   (b)  is continued in existence under the Australian Wool Realisation 
        Commission Act 1991 with the name Australian Wool Realisation
        Commission.".