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Wool International Act 1993
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Administered by
Department of Agriculture, Fisheries and Forestry
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C2025C00008 (C02)
28 June 1996
-
31 December 1996
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Part 1—Preliminary
1 Short title
2 Commencement
3 Object of the Act
4 Definitions
5 Definition: accumulated debt
6 Definition: wool tax payer etc.
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Part 2—Wool International—its status, functions and powers
7 Wool International
8 Functions
9 Powers
10 Commercial obligation
11 Consultation
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Part 3—Corporate plans
12 First corporate plan
13 Subsequent corporate plans
14 Revision of plans
15 Content of plans
16 Variation of plan at request of Minister
17 Notification of significant events etc.
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Part 4—Schedule of disposal of stockpile wool
18 Definitions
19 Wool International’s powers and obligations until 30 June 1994
20 Disposal schedule from 1 July 1994
21 Wool purchases to meet disposal requirements
22 Publication of notices regarding progress of disposal of stockpile
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Part 5—Constitution and meetings of Wool International
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Division 1—General
23 Membership
24 Deputy of Chairperson
25 Disclosure of interests
26 Leave of absence of appointed members
27 Resignation
28 Ending of appointments for misbehaviour etc.
29 Meetings
30 Conduct of meetings
Division 2—Nominations of persons for appointment to Wool International
31 Constitution of selection committee
32 Request for nominations
33 Proceedings of the committee
34 Nominations by committee
35 Abolition of selection committee
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Part 6—Staff
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Division 1—The Chief Executive
36 Appointment etc. of Chief Executive
37 Acting Chief Executive
38 Management of affairs of Wool International
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Division 2—Other staff of Wool International
39 Employees
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Division 3—Equal employment opportunity program
40 Development of equal employment opportunity program
41 Implementation of program
42 Preservation of merit principle
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Part 7—Finance
43 Payments to Wool International
44 Payments representing pre commencement tax
46 Appropriation
47 Money of Wool International
48 Charges for services
49 Expenditure of Wool International money
49A Expenditure of Wool International money on wool trading subsidiaries
50 Accounts and records
51 Separate accounting for revenue and payments relating to non wool assets
52 Payment of expenses of collection etc. of amounts paid under sections 43 and 44
53 Borrowing etc.
54 Hedging through currency contracts etc.
55 Bank accounts
56 Investment of Wool International money
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Part 8—Audit
57 Audit
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Part 9—Miscellaneous
58 Ministerial directions
59 Delegation
60 Consultants
61 Liability to taxation
62 Remuneration and allowances of appointed members
63 Provision to Wool International of information given to Commissioner of Taxation
64 Provision of wool tax records to wool tax payers
65 Meetings of wool tax payers
66 Register of wool tax payers
66A Carpet wool tax payers
67 Annual report
68 Judicial notice of Wool International’s seal
69 Consequences of commencement of Part 12
70 Market intelligence and statistics powers of Australian Wool Corporation
71.
72 Regulations
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Part 10—Creation of capital structure and other steps prior to conversion of Wool International into public company
73 Share capital of Wool International
74 Issue of shares
75 New name of Wool International
76 Wool International to apply to be registered as company etc.
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Part 11—Taxation matters
77 Exemption from taxes and charges
78 Wool International taken to have had share capital
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Part 12—Conversion of Wool International into public company
79 Wool International taken to be registered under Corporations Law
80 Memorandum and articles of Wool International
81 Membership of Wool International
82 Application of certain provisions of Corporations Law
83 Wool International not a public authority etc.
84 Operation of section 25B of the Acts Interpretation Act
85 Accounting records
86 Accounts
87 Effect of Part—summary
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history