Wool Services Privatisation (Eligible Woolgrowers) Regulations 2000 (Cth)

Wool Services Privatisation (Eligible Woolgrowers) Regulations 2000

Statutory Rules 2000 No. 3471

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Wool Services Privatisation Act 2000.

Dated 13 December 2000

WILLIAM DEANE

Governor-General

By His Excellency's Command

WARREN TRUSS

Minister for Agriculture, Fisheries and Forestry

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Part 1Preliminary

  

1Name of Regulations

 These Regulations are the Wool Services Privatisation (Eligible Woolgrowers) Regulations 2000.

2Commencement

 These Regulations commence on gazettal.

3Definitions

 In these Regulations:

closing date has the meaning given by regulation 14.

company includes a company registered under the Corporations Law and an incorporated association, but does not include a partnership.

eligible taxable wool transaction means a taxable wool transaction that occurred in the eligibility period.

eligibility period means the period from 1 July 1997 to 30 June 2000 (inclusive).

List of Eligible Woolgrowers(orList) means the List of Eligible Woolgrowers mentioned in section 20 of the Act.

registered wool tax agent means a wool-broker, wool-dealer, manufacturer, exporter, carpet wool co-operative or manufacturer of carpet yarn that is registered under the Wool Tax (Administration) Act 1964.

share means a share in HoldCo.

Share Registry Company means a company engaged by the Organisation for the purpose of preparing the List.

taxable wool transaction means a sale or other transaction, or other act, on which wool tax is imposed.

the Act means the Wool Services Privatisation Act 2000.

Note   The following terms used in these Regulations are defined in section 7 of the Act:

• •

  HoldCo

• •

  Organisation

• •

  wool tax.

4Payment of wool tax as an intermediary

 For these Regulations, a person pays wool tax, in respect of a taxable wool transaction, as an intermediary if the person pays the wool tax:

• (a)

  because the person is liable to do so under subsection 12 (1) of the Wool Tax (Administration) Act 1964; or

• (b)

  in the circumstances mentioned in subsection 12 (2) of that Act.

Part 2List of Eligible Woolgrowers

  

5List of Eligible Woolgrowers

• (1)

  The List of Eligible Woolgrowers must comprise persons who are entitled, whether separately or jointly, to at least 1 share in HoldCo.

• (2)

  Despite subregulation (1), the List must not include a person unless:

  • (a)

    the person has applied for shares in HoldCo in accordance with these Regulations; and

  • (b)

    the requirements of regulation 15 are complied with in respect of the shares; and

  • (c)

    the application has been dealt with by the Share Registry Company before the Minister certifies the List under subsection 20 (4) of the Act.

Note 1   Regulation 15 deals with the evidence of wool tax paid that must accompany an application for shares.

Note 2   The List must show the number of shares of each class to which each person is entitled — see subsection 20 (3) of the Act.

6Entitlement to A class shares

 For these Regulations, a person is entitled to 1 A class share in HoldCo if the person has paid, other than as an intermediary, at least $100 of wool tax in respect of eligible taxable wool transactions.

7Entitlement to B class shares

 For these Regulations, a person is entitled to 1 B class share in HoldCo for each whole $100 of wool tax paid by the person, other than as an intermediary, in respect of eligible taxable wool transactions.

8Treatment of partners

• (1)

  Subject to subregulations (2) and (3), a partnership is to be treated as a person for the purposes of:

  • (a)

    aggregating an amount of wool tax under regulation 9; and

  • (b)

    calculating an entitlement to shares.

• (2)

  If there is a change in the composition of a partnership, the persons who are the partners immediately after the change are taken, on and after the change, to be a different partnership and a different person.

• (3)

  If, because of this regulation, a partnership is entitled to shares, the partners in that partnership are jointly entitled to those shares.

Example

From 1 July 1997 to 31 December 1998 a partnership is made up of partners A, B and C (the ABC partnership). On 31 December 1998 C leaves the partnership. On and after that date the remaining partners are taken to be a different partnership (the AB partnership). The AB partnership continues in business until 30 June 2000.

The partners in the ABC partnership may apply for shares in respect of its eligible taxable wool transactions occurring in the period 1 July 1997 to 31 December 1998. The partners in the AB partnership may apply for shares in respect of its eligible taxable wool transactions in the period 1 January 1999 to 30 June 2000. The entitlements of both partnerships may also be aggregated under regulation 9.

9Aggregation of wool tax paid by different persons

• (1)

  This subregulation applies if:

  • (a)

    2 or more persons who have paid wool tax in respect of eligible taxable wool transactions agree that amounts of wool tax paid by each of them should be aggregated for the purpose of an application by one of them (the applicant) for shares in HoldCo; and

  • (b)

    each person other than the applicant signifies in the application that the person consents to the aggregation.

• (2)

  If subregulation (1) applies:

  • (a)

    the amounts of wool tax paid by the applicant and each other person, of which sufficient evidence is given in accordance with regulation 15, are to be aggregated and treated, for the purpose of calculating an entitlement to shares, as an amount of wool tax paid by the applicant; and

  • (b)

    a person other than the applicant is not entitled to a share in HoldCo in respect of any amount of wool tax so aggregated.

• (3)

  For paragraph (1) (b), the consent of a person (the consenting person) must be signified by a person who, under regulation 13, would be able to sign an application for shares for the consenting person.

10Rights of personal representative of deceased individual

• (1)

  Subject to subregulation (2), if an individual who is entitled (other than jointly entitled) to shares in HoldCo dies, whether before or after an application for the shares is made, the deceased individual’s personal representative has the same rights in respect of the shares (including rights in respect of an application and inclusion in the List) as the deceased individual.

• (2)

  The personal representative must give to the Share Registry Company sufficient evidence to establish the representative’s entitlement to be the deceased individual’s personal representative.

• (3)

  If an individual who is jointly entitled to shares in HoldCo dies, whether before or after an application for the shares is made, the surviving individual or individuals are taken to be entitled, or to be jointly entitled, to the deceased individual’s interest in the shares.

• (4)

  In this regulation:

personal representative, for a deceased individual, means:

• (a)

  the executor of the will, or administrator of the estate, of the deceased individual; or

• (b)

  if there is no executor or administrator, the deceased individual’s next of kin.

sufficient evidence includes:

• (a)

  for a personal representative who is the executor of the will — a copy of the grant of probate, or a copy of the will, naming the personal representative as the executor; or

• (b)

  for a personal representative who is the administrator of an estate — a copy of the letters of administration naming the personal representative as the administrator.

11Treatment of deregistered companies

If a company is deregistered under Chapter 5A of the Corporations Law and would have been entitled, but for the deregistration, to shares in HoldCo, the company is not entitled to those shares.

Part 3Applications for shares

  

12Information program

• (1)

  The Minister must cause a public information program about the issue of shares in HoldCo to be carried out.

• (2)

  The public information program must include at least 1 advertisement about the issue of the shares:

  • (a)

    in at least 1 national newspaper circulated in all States and the Internal Territories; and

  • (b)

    in other publications of significant interest to woolgrowers and wool-growing communities, that are circulated in regional and local areas.

• (3)

  The Minister must cause all reasonable efforts to be made to give persons who may be eligible to apply for the shares an application form mentioned in regulation 13.

13Application for shares

• (1)

  An application for shares in HoldCo must be made in writing in a form approved by the Minister.

• (2)

  The application:

  • (a)

    if made by an individual who is 18 years old or older — must be signed by the individual, or by another individual who is 18 years old or older and who is authorised by the first-mentioned individual to sign on his or her behalf; or

  • (b)

    if made by an individual who is under 18 years old — must be signed by a parent or guardian of the individual, or by another individual who is 18 years old or older and who is authorised to sign on his or her behalf; or

  • (c)

    if made by the partners in a partnership — must be signed by all the partners, or by at least one partner who is authorised by the partners to sign on behalf of the partnership; or

  • (d)

    if made by a company — must be signed by a director or principal officer of the company.

• (3)

  An application must be sent by post, or delivered by hand, to the Share Registry Company.

• (4)

  Subject to regulations 17 and 18, if a person posts an application to the Share Registry Company, the application is taken to be made on the day on which it is received.

Note   Regulations 17 and 18 deal with amendment of applications.

14Closing date for applications

• (1)

  The Minister must set a date (the closing date) before which applications for shares in HoldCo should be made.

• (2)

  If an application is received on or before the closing date, the Share Registry Company must deal with the application before the Minister certifies the List under subsection 20 (4) of the Act.

• (3)

  If an application is received after the closing date but before the Minister certifies the List, the Share Registry Company may, but is not obliged to, deal with the application.

• (4)

  The Share Registry Company may give to HoldCo any application that is not finally dealt with before the Minister certifies the List.

15Evidence of wool tax paid

• (1)

  An application for shares in HoldCo must be accompanied by sufficient evidence of the wool tax paid, in respect of eligible taxable wool transactions, by or for:

  • (a)

    an applicant; or

  • (b)

    a person whose wool tax is to be aggregated with an applicant’s wool tax.

• (2)

  In subregulation (1):

sufficient evidence, for a person mentioned in paragraph (1) (a) or (b), means:

• (a)

  a copy of a document prepared by a registered wool tax agent showing the amount of wool tax paid by or for the person in respect of:

  • (i)

    an eligible taxable wool transaction occurring on a particular date; or

  • (ii)

    eligible taxable wool transactions occurring in a particular financial year, or another period, specified in the document; or

• (b)

  a copy of a statement prepared by a registered wool tax agent showing amounts of wool tax deducted by the agent, on behalf of the person, from the proceeds of eligible wool transactions in each of the financial years in the eligibility period; or

• (c)

  a copy of a return given to the Commissioner of Taxation under Part VII of the Wool Tax (Administration) Act 1964, showing details of wool tax paid by or for the person in respect of eligible wool transactions occurring in the period specified in the return; or

• (d)

  if the person is unable to provide a document of a kind mentioned in paragraph (a), (b) or (c) in respect of one or more eligible taxable wool transactions, any other document or information that establishes:

  • (i)

    that an amount of wool tax was paid by or for the person in respect of the eligible taxable wool transaction or transactions; and

  • (ii)

    that the person is unable, for good reason, to provide a document of a kind mentioned in paragraph (a), (b) or (c) in relation to the wool tax so paid.

16Presumptions as to documents produced as evidence of wool tax paid

• (1)

  A wool tax document that accompanies an application and does not show the full or correct name of an applicant, or of a person whose wool tax is to be aggregated with the applicant’s wool tax, as a payer of wool tax is taken to relate to the applicant or other person if it:

  • (a)

    shows an abbreviation or variation of the name of the applicant or other person and reasonably appears to relate to the applicant or other person; or

  • (b)

    shows the name of a property or other thing (not being a person) as the payer of wool tax, or does not show the name of any person or thing as the payer of wool tax, and the applicant, or a person who is authorised to sign the application on behalf of the applicant, states in the application that the document relates to the applicant or the other person.

Example for paragraph (1) (a)

Mary Catherine Smith is shown as the applicant in the application, but the wool tax documents show M.C. Smith, Mary C. Smith or Marie Smith. The documents are taken to relate to Mary Catherine Smith.

Example for paragraph (1) (b)

John Grower is shown as the applicant in the application, but the wool tax documents show only Bluegrass Farm and the applicant states that the applicant has paid the wool tax. The documents are taken to relate to John Grower.

• (2)

  If a wool tax document that accompanies an application shows the names of the applicant (whether or not the applicant is an individual) and an individual who is not an applicant as the payers of wool tax, the wool tax is taken to have been paid by or for the applicant, unless there is evidence to the contrary.

Examples

1   John Grower is shown as the applicant in the application, but the wool tax documents show John Grower and Mary Smith as the payers of wool tax. If there is no evidence to the contrary, the wool tax is taken to have been paid by or for John Grower.

2   ABC Pty Ltd is shown as the applicant in the application, but the wool tax documents show John Grower and ABC Pty Ltd as the payers of wool tax. If there is no evidence to the contrary, the wool tax is taken to have been paid by or for ABC Pty Ltd.

• (3)

  If:

  • (a)

    the applicant is a company; and

  • (b)

    a wool tax document that accompanies the application shows the names of the applicant and another company that is not an applicant as the payers of wool tax;

the wool tax is taken to have been paid by the applicant and the other company jointly, unless there is evidence to the contrary.

Example

ABC Pty Ltd is shown as the applicant in the application, but the wool tax documents show ABC Pty Ltd and XYZ Pty Ltd as the payers of wool tax. If there is no evidence to the contrary, the wool tax is taken to have been paid by or for ABC Pty Ltd and XYZ Pty Ltd jointly. A joint application or aggregation is required.

• (4)

  If:

  • (a)

    2 or more persons are joint applicants; and

  • (b)

    a wool tax document that accompanies the application shows the names of 1 or more, but not all, of the applicants as the payers of wool tax;

the wool tax is taken to have been paid by or for all the applicants jointly, unless there is evidence to the contrary.

• (5)

  Unless there is evidence to the contrary, a wool tax document that purports to be, or that reasonably appears to be, a document prepared by a registered wool tax agent, is taken to be a document so prepared.

• (6)

  In this regulation:

wool tax document means a document of a kind mentioned in subregulation 15 (2).

17Amendment of application at applicant’s request

• (1)

  An applicant may apply, in writing, to the Share Registry Company to amend an application for shares in HoldCo (the original application), giving:

  • (a)

    details of the amendments; and

  • (b)

    documents (if any) in support of the application.

• (2)

  Subregulation 13 (2) applies to an application under this regulation as it applies to the original application.

Note   Subregulation 13 (2) deals with signing an application.

• (3)

  An application under this regulation must be:

  • (a)

    sent by post, or by facsimile transmission, to the Share Registry Company; or

  • (b)

    delivered to the Share Registry Company by hand.

• (4)

  On receipt by the Share Registry Company of an application under subregulation (1), the original application:

  • (a)

    is taken to have been amended by the application under subregulation (1) on the day that application is received; and

  • (b)

    for the purposes of these Regulations, is taken to have been made only on that day.

18Amendment of application at Share Registry Company’s request

• (1)

  The Share Registry Company, by writing, may request the applicant to amend an application for shares in HoldCo (the original application).

• (2)

  A request under subregulation (1) must:

  • (a)

    give details of the amendment, and of any further documents or information in connection with the application, requested by the Share Registry Company; and

  • (b)

    specify a period of at least 14 days, ending on a day not later than the day before the Minister certifies the List, for compliance with the request.

• (3)

  An application amended under this regulation, and any further documents or information, must be:

  • (a)

    sent by post, or by facsimile transmission, to the Share Registry Company; or

  • (b)

    delivered to the Share Registry Company by hand.

• (4)

  If the applicant complies with a request under subregulation (1) within the period specified in the request, the original application:

  • (a)

    is taken to have been amended as requested; and

  • (b)

    if made before the closing date, is taken to have been made, as amended, before that date.

• (5)

  If the applicant complies with a request under subregulation (1), but not within the period specified in the request, the original application:

  • (a)

    is taken to have been amended as requested; and

  • (b)

    for the purposes of these Regulations, is taken to have been made only on the day that the request is complied with.

• (6)

  Without limiting subregulation (4) or (5), an applicant does not comply with a request within the period specified in the request if the amended application, documents or other information requested are not received by the Share Registry Company within the period.

19Amendment of application by Share Registry Company

• (1)

  This regulation applies to an application for shares that is accompanied by sufficient evidence of the payment of an amount of wool tax that is less, or is greater, than the amount shown in the application.

• (2)

  At any time before the Minister certifies the List, the Share Registry Company may amend an application to which this regulation applies to show the amount of wool tax in respect of which there is sufficient evidence of payment.

• (3)

  In this regulation:

sufficient evidence, in relation to the payment of wool tax, has the meaning given by subregulation 15 (2).

Part 4Miscellaneous

  

20Presumptions as to signatures etc

 In relation to an application for shares, unless there is evidence to the contrary:

• (a)

  a signature is taken to be the signature of the person whose signature it purports to be; and

• (b)

  a person who purports to be a director or principal officer of a company is taken to be a director or principal officer of the company; and

• (c)

  a person who purports to be a parent or guardian of another person is taken to be a parent or guardian of the person; and

• (d)

  a person who purports to be, or to have been, a partner in a partnership is taken to be, or to have been, a partner in the partnership; and

• (e)

  a person who purports to be authorised to sign on behalf of another person, or on behalf of a partnership, is taken to be so authorised; and

• (f)

  the composition of a partnership is taken not to have changed in the eligibility period; and

• (g)

  a person signing an application is taken to be 18 years old or older.

21Delegation by Minister

• (1)

  Subject to subregulation (2), the Minister, in writing, may delegate any of his or her powers or functions under these Regulations to:

  • (a)

    an SES employee, or acting SES employee, in the Department; or

  • (b)

    the Share Registry Company.

• (2)

  The Minister must not delegate the power to set a closing date under subregulation 14 (1).

• (3)

  In exercising powers or functions under a delegation, the delegate must comply with any directions of the Minister.

22Regulations to cease to have effect

These Regulations cease to have effect on the commencement of Schedule 1 to the Act.

Note

1. Notified in the Commonwealth of Australia Gazette