Dairy Produce Research and Sales Promotion Act 1964

Overview

The Dairy Produce Research and Sales Promotion Act 1964 was enacted by the Commonwealth Parliament to amend the Dairy Produce Research and Sales Promotion Act 1958-1963, aiming to refine the framework for research and sales promotion in the dairy industry. This legislation ensures that funds collected through levies on dairy produce are appropriately allocated to research initiatives and sales promotion activities. By making specific amendments to the Principal Act, the 1964 Act provides a more streamlined and effective mechanism for managing these funds, enhancing the industry's capacity to innovate and promote dairy products both domestically and internationally. The policy objective of the Act is to support the ongoing development and marketing of dairy products by ensuring that sufficient financial resources are directed towards research and promotional efforts. This is achieved by revising the allocation of levy funds to the Research Account and the Dairy Produce Sales Promotion Fund, and by adjusting the entity responsible for the investment of funds within the Sales Promotion Fund. These amendments aim to foster a more robust dairy industry, capable of adapting to market demands and maintaining its competitiveness.

Scope and Application

The Dairy Produce Research and Sales Promotion Act 1964 applies to entities involved in the dairy industry, specifically those who produce, handle, or sell dairy products within the Commonwealth of Australia. The Act is an amendment to the Dairy Produce Research and Sales Promotion Act 1958-1963, enhancing its provisions by introducing changes to the allocation and management of funds collected from levies on dairy produce. It focuses on the management and distribution of moneys from the Research Account and the Sales Promotion Fund, which are derived from specific levies outlined in the Dairy Produce Levy Act 1958-1964. The Act mandates that the Research Account and Sales Promotion Fund receive funds equal to the amounts of levy received by the Secretary from particular sections of the levy act, thereby ensuring a direct correlation between the levies and the funding of these accounts. The geographic and jurisdictional reach of the Act is limited to the Commonwealth of Australia, as it pertains to the regulation and management of funds within the national dairy industry. There are no specific exclusions, exemptions, or thresholds outlined within the text of this Act. However, the application and enforcement of the Act may be extended or restricted through subordinate instruments or regulations that may be developed under its authority. These regulations could provide further detail on the implementation and oversight of the Act, ensuring its provisions are effectively applied across the dairy industry within Australia.

Key Provisions

The Dairy Produce Research and Sales Promotion Act 1964 primarily serves to amend the existing Dairy Produce Research and Sales Promotion Act 1958-1963. Key sections of the Act include the amendment of moneys paid into the Research Account (Section 3) and the recommendations by the Committee on rates of levy on dairy produce (Section 4). Additionally, it modifies the composition of the Dairy Produce Sales Promotion Fund (Section 5) and changes the institution responsible for the investment of moneys within this fund from the Commonwealth Bank of Australia to the Reserve Bank of Australia (Section 6). Under the Act, several obligations are imposed on the parties and entities it governs. Section 3 mandates that specific amounts from the levy received by the Secretary under the Dairy Produce Levy Act 1958-1964 be paid into the Research Account. This ensures that funds are directed appropriately for research purposes. Furthermore, Section 4 requires the Committee to periodically submit recommendations to the Board regarding the rates of levy on dairy produce, enabling a dynamic adjustment of these rates in response to changing market conditions. Section 5 specifies that the Sales Promotion Fund should receive amounts equal to the levies received by the Secretary under particular subsections of the Dairy Produce Levy Act, ensuring that sales promotion activities are adequately funded. The Act also outlines consequences for non-compliance. While the Act does not explicitly state offences, penalties, or specific civil or criminal consequences for breach, it is implied that failure to adhere to the prescribed procedures and obligations could result in financial discrepancies or mismanagement of funds intended for research and sales promotion. The potential implications of such non-compliance could include legal scrutiny, financial audits, and possible sanctions under related legislative frameworks. Given the structured nature of the Act, penalties might be outlined in other related Acts or regulations.