Overview

The Wool Services Privatisation Act 2000 was enacted to privatise the services previously provided by the Australian Wool Corporation (AWC) and to establish a transparent and efficient market for wool in Australia. This Act was introduced to address the need for reform in the wool industry, transitioning from a government-controlled system to a market-driven one. Enacted by the Parliament of Australia, the policy objective of this Act is to ensure that the wool industry operates in a competitive and efficient manner, benefiting all stakeholders. In line with this objective, the Act facilitates the determination of the Gross Value of Production for the wool industry annually, ensuring the industry's economic data is accurately reflected and used for future planning and market analysis. This particular determination by the Minister for Agriculture, Bridget McKenzie, provides the Gross Value of Production for the wool industry for the 2018-19 financial year, illustrating the ongoing commitment to transparent and accountable industry assessment.

Scope and Application

The Wool Services Privatisation Act 2000, as referenced in the gazette C2019G00622, applies to the wool industry in Australia and is administered by the Minister for Agriculture. Specifically, this Act pertains to the determination of the Gross Value of Production (GVP) for the wool industry, which in this instance, for the 2018-19 financial year, has been determined by the Minister to be $4,160,203,723. This legislative instrument serves to provide a financial benchmark for the industry, which can be used for various purposes including statistical analysis, economic planning, and regulatory oversight. The act applies nationally across Australia, impacting all entities involved in the production and sale of wool, including woolgrowers, processors, and exporters. While the Act itself primarily focuses on the determination of the GVP, it is supported by subordinate instruments that may extend or restrict its application, ensuring comprehensive coverage and precise implementation within the sector.

Key Provisions

The key provision of this legislation, C2019G00622, is the determination of the Gross Value of Production (GVP) for the wool industry for the financial year 2018-19. According to subsection 31(7) of the Wool Services Privatisation Act 2000, the Minister for Agriculture, Bridget McKenzie, has determined the GVP for the wool industry to be $4,160,203,723 (C2019G00622). This determination is based on the value of wool production for that particular year, as outlined in the referenced act. Under the Wool Services Privatisation Act 2000, the primary obligation imposed on the relevant parties is to accurately report the value of their wool production for the specified financial year. The GVP determination process requires the Minister for Agriculture to assess the reported production values, ensuring that the data provided is accurate and reflective of the actual production in the industry. This information is crucial for understanding the economic status of the wool industry and for making informed decisions regarding its future. Breaches of the provisions outlined in the Wool Services Privatisation Act 2000 may result in various consequences. However, the specific legislation C2019G00622 does not detail any offences, penalties, or civil/criminal consequences for non-compliance. It is essential to refer to the primary act, the Wool Services Privatisation Act 2000, for information on potential penalties for failing to adhere to the reporting requirements. The act may contain provisions for fines, legal action, or other consequences for those who do not comply with the requirements, and it is the responsibility of the parties involved to ensure they are aware of and adhere to these provisions.