STATUTORY RULES.
1950. No. 33.
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REGULATIONS UNDER THE WOOL (CONTRIBUTORY CHARGE) ACT (No. 2) 1950.*
WHEREAS I, the Governor-General in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, after taking into consideration all advice tendered to the Treasurer of the Commonwealth by the Australian Wool Realization Commission, am of the opinion that the percentage which is necessary, as the percentage prescribed, on and from the twenty-sixth day of August, 1950, under section 6 of the Wool (Contributory Charge) Act (No. 2) 1950 in order to produce, together with the amount likely to be produced under the Wool (Contributory Charge) Act (No. 1) 1950 if the same percentage is prescribed under section 6 of that Act, the sum of the amounts referred to in paragraphs (a), (b) and (c) of section 6 of the first-mentioned Act is one-quarter of one per centum :
And whereas I, the Governor-General aforesaid, acting with the advice of the Federal Executive Council, after taking into consideration all views on the matter expressed to the Minister of State for Commerce and Agriculture by the Australian Wool Realization Commission, the Australian Woolgrowers’ Council, the Australian Wool and Meat Producers’ Federation and the Australian Primary Producers’ Union, am of opinion that the percentage which is necessary, as the percentage prescribed, on and from the twenty-sixth day of August, 1950, under section 7 of the Wool (Contributory Charge) Act (No. 2) 1950 in order to produce, together with the amount likely to be produced under the Wool (Contributory Charge) Act (No. 1) 1950 if the same percentage is prescribed under section 7 of that Act, the sum of the amounts likely to be required to be contributed by the wool industry to the cost of establishing a scheme of reserve prices for wool after the Disposals Plan ceases to operate and to the cost of operating that scheme is seven and one-quarter per centum :
Now therefore I, the Governor-General aforesaid, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Wool (Contributory Charge) Act (No. 2) 1950.
Dated this sixth day of July, 1950.
W. J. McKELL
Governor-General.
By His Excellency’s Command,
A. W. FADDEN
Treasurer.
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Wool (Contributory Charge) (No. 2) Regulations.
Citation.
1. These Regulations may be cited as the Wool (Contributory Charge) (No. 2) Regulations.
* Notified in the Commonwealth Gazette on 7th July, 1950.
3359.—Price 3d.
Commencement.
2. These Regulations shall come into operation on the twenty-sixth day of August, 1950.
Percentage under section 6.
3. The percentage of the sale value of wool for the purposes of section 6 of the Wool (Contributory Charge) Act (No. 2) 1950 is one-quarter of one per centum.
Percentage under section 7.
4. The percentage of the sale value of wool for the purposes of sub-section (1.) of section 7 of the Wool (Contributory Charge) Act (No. 2) 1950 is seven and one-quarter per centum.
By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.
Overview
The Wool (Contributory Charge) (No. 2) Regulations 1950 were enacted to implement specific contributory charges on the sale value of wool under the Wool (Contributory Charge) Act (No. 2) 1950. This legislative instrument was introduced to address the financial requirements of establishing and operating a scheme of reserve prices for wool following the cessation of the Disposals Plan. The regulations were made by the Governor-General in Council, acting on the advice of the Federal Executive Council and considering the recommendations from various wool industry bodies. The policy objective of these regulations is to ensure that the wool industry contributes to the costs associated with the new reserve price scheme, thus maintaining a stable market for wool and supporting the industry's economic interests.
Scope and Application
The Wool (Contributory Charge) (No. 2) Regulations, enacted under the Wool (Contributory Charge) Act (No. 2) 1950, pertain to the imposition of contributory charges on the sale of wool in Australia. These regulations apply to all persons and entities involved in the sale of wool within the Commonwealth of Australia. The primary focus of these regulations is to establish the specific percentages of the sale value of wool that are to be charged under sections 6 and 7 of the Wool (Contributory Charge) Act (No. 2) 1950. Section 6 mandates a charge of one-quarter of one percent, while Section 7 imposes a charge of seven and one-quarter percent, effective from August 26, 1950. These charges are designed to contribute to the costs associated with the establishment and operation of a reserve pricing scheme for wool post the cessation of the Disposals Plan. The regulations set the parameters within which the wool industry must operate, ensuring that the financial burden is equitably distributed among all stakeholders involved in wool sales across Australia.
Key Provisions
The main operative sections of these Regulations, as provided under the Wool (Contributory Charge) (No. 2) Act 1950, set forth specific percentages that apply to the sale value of wool. Section 3 specifies that the percentage for the purposes of section 6 of the Act is one-quarter of one per cent, while Section 4 specifies that the percentage for the purposes of section 7(1) of the Act is seven and one-quarter per cent. These percentages are to take effect from the 26th day of August, 1950.
The Regulations impose certain obligations on parties involved in the wool industry. Firstly, they establish the mandatory percentage of the sale value of wool that must be contributed towards specified funds. Specifically, the Regulations require a one-quarter of one per cent contribution for the purposes outlined in section 6 of the Act, and a seven and one-quarter per cent contribution for the purposes outlined in section 7(1) of the Act. These contributions are integral to supporting the financial needs of the wool industry as specified by the Act.
Breach of these Regulations can lead to significant consequences. While the specific penalties are not detailed within the Regulations themselves, the Wool (Contributory Charge) Act (No. 2) 1950 likely provides for civil or criminal penalties for non-compliance. The exact nature and severity of these penalties would depend on the specific provisions of the Act, but they may include fines or other legal repercussions for entities or individuals found in breach of the stipulated percentages and obligations.