Wool Research and Development Corporation Regulations 1991 No. 178
EXPLANATORY STATEMENT STATUTORY RULES 1991 No. 178
Issued by the Authority of the Minster of State for Primary Industries and Energy.
PRIMARY INDUSTRIES AND ENERGY RESEARCH AND DEVELOPMENT ACT 1989
WOOL RESEARCH AND DEVELOPMENT CORPORATION REGULATIONS
The Regulations provide for the establishment of the Wool Research and Development Corporation.
Section 8 of the Primary Industries and Energy Research and Development Act 1989 (the Act) provides for the establishment by regulation of a Research and Development Corporation in respect of a primary industry or class of primary industries and for the Corporation to be known by the name specified in the regulations.
Subsection 32(2) of the Act provides for a statement in the regulations as to the manner in which the Minister is to determine the amount of the gross value of production of goods that are the produce of the industry for a financial year. This is important in that subsection 32(1) of the Act limits the Commonwealth's matching payments to the Corporation in a particular financial year to a maximum amount equal to the 0.5% of the gross value of production of goods, as determined by the Minister, for that financial year.
Section 147A of the Act provides that the regulations may make such transitional and consequential provisions as are necessary because of:
(a) the repeal of the Wool Marketing Act 1987; and
(b) the enactment of the Australian Wool Realisation Commission Act 1991; and
(c) the establishment of the Corporation