WOOL (CONTRIBUTORY CHARGE).

No. 51 of 1945.

An Act to impose a Contributory Charge upon certain Wool produced in Australia.

[Assented to 11th October, 1945.]

[Date of commencement, 8th November, 1945.]

BE it enacted by the King’s Most Excellent Majesty, the Senate; and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title.

1. This Act may be cited as the Wool (Contributory Charge) Act 1945.

Incorporation.

2. The Wool (Contributory Charge) Assessment. Act 1945 shall be incorporated and read as one with this Act.

Imposition of charge.

3. A contributory charge is imposed on all wool—

(a) produced in Australia; and

(b) on or after a date to be fixed by proclamation—

(i) sold by a broker at auction or otherwise;

(ii) purchased by a manufacturer;

(iii) subjected by a manufacturer (whether or not he is the producer or owner of the wool) to a process of manufacture; or

(iv) exported from Australia.

Rate of charge.

4. The rate of the charge shall be such percentage as is prescribed from time to time of the sale value of the wool, being a percentage which, in the opinion of the Governor-General, after taking into consideration any advice tendered to the Minister by the Australian Wool Realization Commission, is necessary in order to provide the following amounts:—

(a) The amounts required to meet the share of the industry in the operating expenses of the Joint Organization as provided in paragraph three of Part III. of the Disposals Plan, being the plan a copy of which is set forth in the Schedule to the Wool Realization Act 1945;

(b) The amounts required for payment of interest, at such rate as the Treasurer determines, upon the amount from time to time expended by the Commonwealth in purchases of wool in pursuance of the Disposals Plan and unrecouped; and

(c) The amounts required for payment into the Wool Use Promotion Fund in pursuance of section sixteen of the Wool Use Promotion Act 1945, as affected by the Wool (Contributory Charge) Assessment Act 1945.

Regulations.

5. The Governor-General may make regulations, not inconsistent with this Act, for prescribing the percentage mentioned in section four of this Act.