Commonwealth Numbered Regulations - Explanatory Statements

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WOOL RESEARCH AND DEVELOPMENT CORPORATION REGULATIONS (AMENDMENT) 1991 NO. 471

STATUTORY RULES 1991 No. 471

Issued by the Authority of the Minister for Primary Industries and Energy

PRIMARY INDUSTRIES AND ENERGY RESEARCH AND DEVELOPMENT ACT 1989

Wool Research and Development Corporation Regulations (Amendment)

Section 149 of the Primary Industries and Energy Research and Development Act 1989 (the Act) provides that the Governor-General may make regulations for the purposes of the Act.

Under the Act, the Wool Research and Development Corporation (WRDC) is required to hold an Annual General Meeting (AGM) of wool-tax payers. The purpose of an AGM is for wool-tax payers to consider the annual report of the WRDC, to receive an address by the Chairperson of the WRDC, and to question the WRDC on its activities. Another major purpose is to debate and vote on motions on wool-tax rates, no confidence in the WRDC or its Chairperson, and other matters within the responsibility of the WRDC.

Section 57(1A) of the Act provides that the register of wool-tax payers prepared by the Australian Wool Corporation (AWC) for the purposes of general meetings of the AWC, shall be taken to be a register of wool-tax payers prepared by the WRDC for the purposes of the WRDC AGM.

Section 61 of the Act provides regulations to be made for the procedures to be followed by registered wool-tax payers and the WRDC in proposing motions, voting and other administrative matters related to the running of the AGM.

The details of the Regulations are as follows:

Clause 1 provides for the amendment of the WRDC Regulations.

Clause 2 inserts extra definitions into the interpretation provided by the previous Regulations.

Clause 3 sets out regulations 6A to 6E which address the procedures to be followed for the purposes of an AGM.

New Regulation 6A requires a wool-tax payer who proposes to move a motion at an AGM to provide the WRDC with a written copy of the motion. A supporting statement of not more than 1000 words and the names of registered wool-tax payers in support of the motion may be included as well. Notice of a motion must be given to the WRDC no later than 56 days before the AGM.

New Regulation 6B requires the WRDC to provide each registered wool-tax payer at least 28 days before the AGM a notice setting out the time, date and place of the AGM. The text of each motion proposed to be moved, a copy of the last financial statements and annual report, and a copy of an approved proxy form are also to be included.

New Regulation 6C provides that the Chairperson must approve a form for the appointment of proxies for AGMs. A proxy may be appointed to attend the AGM on behalf of a registered wool-tax payer. The registered person must sign and complete the proxy form, and may instruct the proxy on how to vote. A vote cast by a proxy is only valid if the proxy casts it in accordance with the instructions on the form supplied by the registered person. The form must be lodged with the WRDC at least 7 days prior to an AGM. The proxy may not vote at a meeting if the registered wool-tax payer is also present.

New Regulation 6D provides for the way in which motions are to be put and passed at an AGM. A motion at an AGM on general matters within the responsibility of the WRDC is passed if a simple majority of registered voters and proxies present agree. This can be carried out by a show of hands or if requested, a formal vote. A motion of no confidence in the Chairperson or the WRDC put to an AGM is passed if it receives at least two thirds of the votes eligible to be cast under regulation 6E by registered voters and proxies present at the meeting. A motion relating to recommended rates of wool tax moved by the WRDC at a general meeting is passed if it receives at least one third of the votes eligible to be cast under regulation 6E by registered voters and proxies present at the meeting. If the motion was moved by other than the WRDC, it is passed if it receives at least two thirds of the votes eligible under regulation 6E and cast at the meeting. Votes relating to wool tax rates and motions of no confidence must be cast by secret ballot.