Federal Register of Legislation - Australian Government

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Wool (Contributory Charge) Act (No. 1) 1950

Authoritative Version
Act No. 7 of 1950 as made
An Act to impose a Contributory Charge upon certain wool produced in Australia.
Date of Assent 01 Jul 1950
Date of repeal 01 Jul 1952
Repealed by Wool Tax Assessment Act 1952

WOOL (CONTRIBUTORY CHARGE) (No. 1).

 

No. 7 of 1950.

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

[Assented to 1st July, 1950.]

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 (No. 1) 1950.


 

Commencement.

2.—(1.)   Subject to this section, this Act shall be deemed to have come into operation on the first day of July, One thousand nine hundred and forty-six.

(2.)   Section seven of this Act shall come into operation on a date to be fixed by Proclamation.

Act to be read with Assessment Act.

3.  The Wool (Contributory Charge) Assessment Act 1945–1950 shall be read as one with this Act.

Imposition of charge.

4.  Subject to the provisions of the Wool (Contributory Charge) Assessment Act 1945–1950 for preventing charge from being payable on any wool both under this Act and under the Wool (Contributory Charge) Act (No. 2) 1950, a contributory charge is imposed on all wool—

(a) produced in Australia: and

(b) on or after the date of commencement of this section—

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

(ii) purchased by a manufacturer: or

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

Previous rates adopted.

5.  The rate of the charge shall be—

(a) on and after the first day of July, One thousand nine hundred and forty-six, up to and including the thirty-first day of July, One thousand nine hundred and forty-seven—five per centum of the sale value of the wool;

(b) on and after the first day of August, One thousand nine hundred and forty-seven, up to and including the thirtieth day of June, One thousand nine hundred and forty-eight—three-quarters of one per centum of the sale value of the wool; and

(c) subject to section seven of this Act, on and after the first day of July, One thousand nine hundred and forty-eight, up to and including the day immediately before the commencement of regulations prescribing a percentage under the next succeeding section—one-half of one per centum of the sale value of the wool.

Rate of charge.

6.  Subject to this Act, 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 not exceeding the 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 produce, together with the amount likely to be produced under the Wool (Contributory Charge)


 

Act (No. 2) 1950 if the same percentage is prescribed under section six of that Act, an amount equal to the sum of 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 1945–1950.

Increased rate of charge.

7.—(1.)  Subject to the next succeeding section, the regulations may from time to time prescribe a percentage, distinct from the percentage (if any) prescribed for the purposes of the last preceding section, being a percentage not exceeding the percentage which, in the opinion of the Governor-General, after taking into consideration any views on the matter which have been 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, is necessary in order to produce, together with the amount likely to be produced under the Wool (Contributory Charge) Act (No. 2) 1950 if the same percentage is prescribed under section seven of that Act, an amount equal to the sum of the amounts required, or 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.

(2.)  Where regulations are in operation prescribing a percentage under this section, the rate of the charge shall be a percentage of the sale value of the wool equal to the percentage so prescribed or, where a percentage is also prescribed under the last preceding section, equal to the sum of the percentages prescribed under this section and the last preceding section.

Maximum rate.

8.  The rate of the charge shall not at any time exceed ten per centum of the sale value of the wool.

Regulations.

9.  The Governor-General may make regulations, not inconsistent with this Act, for prescribing the percentage required or permitted to be prescribed for the purposes of section six or seven of this Act.