Wool Tax (No. 5) Regulations (Amendment) (Cth)

Statutory Rules 1992

No. 210 1

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Wool Tax (No. 5) Regulations 2(Amendment)

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, and having taken into consideration:

• (a)

  the recommendations made to the Minister of State for Primary Industries and Energy in relation to the prescription of a rate for the purposes of paragraph 5 (1) (b) of the Wool Tax Act (No. 5) 1964  made by:

  • (i)

    the Australian Wool Realisation Commission; and

  • (ii)

    the annual general meeting of wool-tax payers last held under Part 6 of the Australian Wool Corporation Act 1991; and

  • (iii)

    the annual general meeting last held by the Wool Research and Development Corporation; and

• (b)

  the views in relation to that rate expressed by the Wool Council of Australia to the Australian Wool Realisation Commission; and

• (c)

  the recommendations made to the Minister of State for Primary Industries and Energy in relation the the prescription of a rate for the purposes of paragraph 5 (2) (b) of the Wool Tax Act (No. 5) 1964 made by:

  • (i)

    the annual general meeting of wool-tax payers last held under Part 6 of the Australian Wool Corporation Act 1991; and

  • (ii)

    the annual general meeting last held by the Wool Research and Development Corporation;

make the following Regulations under the Wool Tax Act (No.5) 1964.

 Dated 23 June 1992.

 BILL HAYDEN

 Governor-General

 By His Excellency’s Command,

SIMON CREAN

Minister of State for Primary Industries and Energy

for and on behalf of the Treasurer

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1.   Commencement

1.1   These Regulations commence on 1 July 1992.

2.   Amendment

2.1   The Wool Tax (No. 5) Regulations are amended as set out in these Regulations.

3.   Regulation 3 (Rate of tax)

3.1   Subregulation 3 (1):

Omit “1 July 1991”, substitute “1 July 1992”.

3.2      Subregulation 3 (2):

Omit “1 July 1991”, substitute “1 July 1992”.

3.3   Subregulation 3 (2):

Omit “3%”, substitute “4%”.

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NOTES

1. Notified in the Commonwealth of Australia Gazette on 30 June 1992.

2. Statutory Rules 1987 No. 147 as amended by 1990 No. 197; 1991 No. 213.