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and

     (b)     is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.".

PART 5—AMENDMENTS OF THE PRIMARY INDUSTRIES AND ENERGY RESEARCH AND DEVELOPMENT ACT 1989

Principal Act

10. In this Part, "Principal Act" means the Primary Industries and Energy Research and Development Act 19894.

Payments to R & D Corporation in respect of the wool industry

  11. Section 30B of the Principal Act is amended:

     (a) by omitting from subsection (4) "There" and substituting "Subject to subsection (4A), there";

  (b) by inserting after subsection (4) the following subsections:

     "(4A) The total of the amounts paid under subsection (4) to the R&D Corporation in respect of the wool industry in a financial year must not exceed:

      (a)     the maximum amount for that financial year; or

        (b)     0.5% of the amount that the Minister determines to be the gross value of shorn wool produced in Australia in that financial year;

     whichever is less.

      "(4B) For the purposes of paragraph (4A)(a):

        (a)     the maximum amount in respect of the financial year commencing on 1 July 1991 is the amount equal to the total of the amounts paid under subsections (1) and (2) of this section, paragraph 89B(1)(c) and subsection 89B(2) to the R&D Corporation in respect of the wool industry during the financial year; and

        (b)     the maximum amount in respect of any subsequent financial year is equal to the difference between:

             (i) the total of the amounts paid under subsections (1) and (2) of this section, paragraph 89B(1)(c) and subsection 89B(2) to the R & D Corporation in respect of the wool industry during the period commencing on 1 July 1991 and ending at the end of the financial year; and

             (ii) the total of the amounts paid under subsection (4) to that Corporation during the period commencing on 1 July 1991 and ending immediately before the commencement of the financial year.".

12. After section 89A of the Principal Act the following sections are inserted:

Payment to R & D Corporation in respect of the wool industry—where wool tax imposed before 1 July 1991 is received on or after that day

  "89B. (1) Where:

    (a)     tax or additional tax imposed, at any time before 1 July 1991, by a Wool Tax Act on particular shorn wool is received by the Commonwealth on or after that day; and

    (b)    if the Wool Marketing Act 1987 were still in force at the time when the tax or additional tax is received, amounts would be payable to the Corporation (within the meaning of that Act) under section 47 of that Act:

there is payable to the R&D Corporation in respect of the wool industry:

     (c)     an amount equal to