Overview

The Gross Value of Production for the Dairy Industry for 2016-17 is an important legislative instrument that provides an official determination of the economic value of the dairy industry's output for that financial year. This instrument is a formal notification issued by a delegate of the Minister for Agriculture and Water Resources, pursuant to the authority granted under the Dairy Produce Act 1986. The stated purpose of this determination is to provide a clear and accurate figure for the Gross Value of Production, which is essential for various economic and policy-making purposes within the agricultural sector. This determination is intended to ensure transparency and accountability in the valuation of the dairy industry's output, thereby supporting informed decision-making by stakeholders, including the government and industry participants.

Scope and Application

The Gross Value of Production for the Dairy Industry for 2016-17 Act, signed by Fran Freeman as a delegate of the Minister for Agriculture and Water Resources, establishes the Gross Value of Production for the dairy industry for the specified financial year. This determination applies specifically to the dairy industry within Australia, identifying the monetary value of the industry's production for that year. The legislation is rooted in the provisions of the Dairy Produce Act 1986 and serves to quantify the economic contribution of the dairy sector to the national economy. The determination is limited to the gross value of production within Australia and does not extend to international transactions or production values of other industries. This act provides a benchmark for economic analysis, policy formulation, and industry planning within the specified industry and timeframe.

Key Provisions

The key operative section of this legislation, C2017G00773, is the determination of the Gross Value of Production (GVP) for the dairy industry for the financial year 2016-17. This determination, made by Fran Freeman, a delegate of the Minister for Agriculture and Water Resources, is grounded in subsection 10(1) of the Dairy Produce Act 1986 and follows the provisions outlined in subsection 6(4) of that Act (subsections 10(1) and 6(4)). Specifically, the GVP for the dairy industry is set at $4,323,544,832 for the stated financial year. Under this Act, the primary obligation imposed on the relevant parties is the establishment of a specific figure for the Gross Value of Production for the dairy industry. This figure is crucial for various regulatory, economic, and policy-making processes related to the dairy sector. The determination process, as outlined in the Act, involves the use of specific subsections to ensure that the GVP is accurately and fairly calculated. In terms of the consequences of breaching any related provisions or failing to adhere to the obligations outlined in the Act, there are specific penalties and consequences that may apply. While the Act itself does not explicitly detail the penalties, it operates within the broader framework of the Dairy Produce Act 1986, which may include provisions for fines, legal actions, or other regulatory measures for non-compliance. The exact nature and severity of these penalties would depend on the specific circumstances and the relevant sections of the overarching Act. The legislation, as gazetted, also highlights the importance of precise and timely determinations in maintaining the integrity of the dairy industry's economic data. This is critical for stakeholders who rely on these figures for financial planning, investment decisions, and policy development. The determination process ensures that the GVP reflects the true economic value of the industry, which is essential for accurate reporting and compliance with industry standards.