WOOL (CONTRIBUTORY CHARGE)
(No. 2).
No.
8 of 1950.
An
Act to impose a Contributory Charge upon certain Wool produced in Australia and
exported from Australia.
[Assented to 1st July,
1950.]
BE it enacted by the King’s Most Excellent
Majesty, the Senate, and the House of Representatives of the Commonwealth of
Australia, as follows:—
Short
title.
1. This Act may be cited as the Wool (Contributory Charge) Act (No. 2) 1950.
Commencement.
2.—(1.) Subject to this section, this Act shall be
deemed to have come into operation on the first day of July, One thousand nine
hundred and forty-six.
(2.) Section seven of this Act shall come into operation on a date to
be fixed by Proclamation.
Act
to be read with Assessment Act.
3. The Wool
(Contributory Charge) Assessment Act 1945–1950 shall be read
as one with this Act.
Imposition
of charge.
4. Subject to the provisions of the Wool (Contributory Charge) Assessment
Act 1945–1950 for preventing charge from being payable on any wool both
under this Act and under the Wool (Contributory Charge) Act (No. 1) 1950, a
contributory charge is imposed on all wool produced in Australia and, on or
after the date of commencement of this section, exported from Australia.
Previous
rates adopted.
5. The rate of the charge shall be—
(a) on and after the first day of July,
One thousand nine hundred and forty-six, up to and including the thirty-first
day of July, One thousand nine hundred and forty-seven—five per centum of the
sale value of the wool;
(b) on and after the first day of August,
One thousand nine hundred and forty-seven, up to and including the thirtieth
day of June, One thousand nine hundred and forty-eight—three-quarters of one
per centum of the sale value of the wool; and
(c)
subject to section seven of this Act, on and after the first day of July, One
thousand nine hundred and forty-eight, up to and including the day immediately
before the commencement of regulations prescribing a percentage under the next
succeeding section—one-half of one per centum of the sale value of the wool.
Rate of charge.
6. Subject to this Act the rate of the charge, shall be
such percentage as is prescribed from time to time of the sale value of the
wool, being a percentage not exceeding the percentage which, in the opinion of
the Governor-General, after taking into consideration any advice tendered to
the Minister by the Australian Wool Realization Commission, is necessary in
order to produce, together with the amount likely to be produced under the Wool (Contributory Charge) Act (No. 1) 1950 if the same percentage is prescribed
under section six of that Act, an amount equal to the sum of the following
amounts:—
(a) the amounts required to
meet the share of the industry in the operating expenses of the Joint
Organization as provided in paragraph three of Part III. of the Disposals Plan,
being the plan a copy of which is set forth in the Schedule to the Wool Realization Act 1945;
(b) the amounts required for payment
of interest, at such rate as the Treasurer determines, upon the amount from
time to time expended by the Commonwealth in purchases of wool in pursuance of
the Disposals Plan and unrecouped; and
(c) the amounts required for
payment into the Wool Use Pro-motion Fund in pursuance of section sixteen of
the Wool Use Promotion Act 1945, as affected by the Wool (Contributory Charge) Assessment Act 1945–1950.
Increased
rate of charge.
7.—(1.) Subject to the next succeeding section, the
regulations may from time to time prescribe a percentage, distinct from the
percentage (if any) prescribed for the purposes of the last preceding section,
being a percentage-not exceeding the percentage which, in the opinion of the
Governor-General, after taking into consideration any views on the matter which
have been expressed to the Minister” of State for Commerce and Agriculture by
the Australian Wool Realization Commission, the Australian Woolgrowers’
Council, the Australian Wool and Meat Producers’ Federation and the Australian
Primary Producers’ Union, is necessary in order to produce, together with the amount
likely to be produced under the Wool (Contributory Charge) Act (No. 1) 1950 if the
same percentage is prescribed under section seven of that Act, an amount equal
to the sum of the amounts required, or likely to be required, to be contributed
by the wool industry to the cost of establishing a scheme of reserve prices for
wool after the Disposals Plan ceases to operate and to the cost of operating
that scheme.
(2.) Where regulations are in operation proscribing a percentage under
this section, the rate of the charge shall be a percentage of the sale value of
the wool equal to the percentage so prescribed or, where a percentage is also
prescribed under the last preceding section, equal to the sum of the
percentages proscribed under this section and the last preceding section.
Maximum rate.
8. The rate of the charge shall not at any time
exceed ten per centum of the sale value of the wool.
Regulations.
9.