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Wool International Act 1993
No longer in force
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Administered by
Department of Agriculture, Fisheries and Forestry
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C2004C07936 C08
03 June 1999
-
30 June 1999
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Part 1—Preliminary
1 Short title
2 Commencement
3 Objects of the Act
4 Definitions
5 Definition: accumulated debt
5A Definition of contributions to Wool International
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
20 Disposal schedule from 1 January 1997
20A Restriction on disposal during excluded period
21 Wool purchases to meet disposal requirements
22 Publication of notices regarding progress of disposal of stockpile
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Part 4A—Entitlement to share in money of Wool International
22A Object of Part
22B Register of persons entitled to share in surplus money of Wool International
22C Particulars of wool tax payers etc. to be entered in register
22D Allocation of units of equity in Wool International
22E Particulars of allocation to be entered in register of equity holders
22F Right of registered equity holder to share in surplus money of Wool International
22G Entitlement in respect of unit of equity
22H Transfer of units
22I Death etc. of unit holder
22J Charge on unit of equity
22K Order of priority for charges
22L Access to register
22M Certificate
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Part 4B—Distribution of money of Wool International among registered equity holders
22N Object of Part
22O Distribution of money of Wool International
22P Amount available for first distribution
22Q Amount available for any other distribution
22R How money is to be distributed
22S Particulars to be notified to registered equity holders etc.
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Part 4C—Units of equity held by Chief Executive
22T Object of Part
22U Chief Executive’s dealings with units of equity
22V Minister to determine guidelines
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Part 4D—Distribution of money paid to Chief Executive
22W Object of Part
22X Money to be held on trust
22Y Money to be invested
22Z To whom money may be paid
22ZA Balance of money to be paid to Wool International
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Part 4E—Other functions of Wool International
22ZB Provision of information about lending institutions
22ZC Provision of services relating to the establishment of an investment vehicle for wool tax payers
22ZD Wool International to bear costs relating to establishment of unit trust etc.
22ZE Limit on expenses etc. of Wool International
22ZF Wool International to provide certain services
22ZG Wool International to provide assistance in respect of its demutualisation
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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 Situations that do not amount to interests requiring disclosure
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
50 Accounts and records
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
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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 Extra matters to be included in annual report
72 Regulations
73 Final acts of Wool International
74 Repeal of Act
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history