Overview

The Wool Services Privatisation Act 2000, enacted by the Parliament of Australia, was introduced to address the restructuring of the wool industry's service provision from a government-managed monopoly to a privatised market. This legislative change aimed to enhance efficiency and competitiveness within the industry, aligning with broader economic reforms of the time. In line with the provisions of the Act, the Minister for Agriculture and Water Resources, David Littleproud, determined the Gross Value of Production (GVP) for the wool industry for the financial year 2017-18, a process integral to the industry's financial oversight and the distribution of levies and charges. This determination reflects the policy objective of ensuring accurate and transparent financial reporting to support the industry's transition and ongoing management in a competitive market environment.

Scope and Application

The Gross Value of Production for the Wool Industry for 2017-18 Act pertains specifically to the wool industry in Australia. This legislation, enacted under the Wool Services Privatisation Act 2000, is concerned with determining the Gross Value of Production (GVP) for the wool industry for the financial year in question. The act applies to all entities involved in the production, processing, and marketing of wool within Australia, thereby impacting farmers, wool processors, and industry stakeholders. It does not extend beyond the national jurisdiction, meaning its application is confined to Australia. The act does not explicitly provide for any exclusions, exemptions, or thresholds within the text, but the determination of the GVP is a statutory requirement under the overarching Wool Services Privatisation Act 2000. The application of this specific act is further refined through subordinate instruments that may provide detailed guidelines on the calculation and reporting of the Gross Value of Production.

Key Provisions

The key provisions of the gazetted determination (C2018G00566) issued by the Minister for Agriculture and Water Resources, David Littleproud, under subsection 31(7) of the Wool Services Privatisation Act 2000, establish the Gross Value of Production (GVP) for the wool industry for the 2017-18 financial year. Specifically, the determination sets the GVP for wool at $3,573,989,898 (section 1). This figure is critical for various purposes, including the calculation of levies and the assessment of the industry's economic health. The Act imposes several obligations on the parties and entities it governs. Section 31(7) mandates that the Minister for Agriculture and Water Resources determine the GVP for the wool industry annually. This determination is based on a comprehensive analysis of industry data, ensuring that the figure accurately reflects the economic output of the wool sector for the specified period. The Minister's role is to provide a transparent and accurate representation of the industry's financial status, which is essential for the effective administration of industry levies and support programs. Breaches of the obligations outlined in the Wool Services Privatisation Act 2000 may result in both civil and criminal consequences. While the specific penalties are not detailed in the determination, the Act generally provides for sanctions that can include fines and imprisonment for more serious violations. The precise penalties are stipulated in other sections of the Act and related legislation, which may impose maximum penalties for non-compliance or fraudulent activities. These provisions are designed to enforce adherence to the statutory requirements and maintain the integrity of the industry's financial reporting. In summary, the gazetted determination sets a specific GVP for the wool industry for the 2017-18 financial year, outlining a clear figure of $3,573,989,898. This determination is crucial for the administration of industry levies and the assessment of economic health. The Act mandates the Minister's role in determining the GVP, ensuring accuracy and transparency. While the determination itself does not detail specific penalties, the Act provides for potential civil and criminal consequences for non-compliance, reflecting the importance of adhering to statutory obligations.