Document ID: chunk:federal_register_of_legislation:C2004A04184:body:0:p5
Version: federal_register_of_legislation:C2004A04184
Segment Type: other
Provision Reference: 
Character Range: 9925–12509

specified percentage of the sale value of shorn wool (other than carpet wool) subject to tax be paid by the Commonwealth to the Corporation during the next financial year for research and the other purposes of the Corporation; and

           (ii) accordingly, a specified rate of tax (expressed as a percentage of the sale value of shorn wool (other than carpet wool) subject to tax and being the percentage recommended under subparagraph (i)) be taken into account in computing the rate of tax that is to be prescribed in respect of shorn wool (other than carpet wool) for the purpose of the application of each of the Wool Tax Acts in respect of the next financial year; and

    (b) a recommendation that:

           (i) an amount equal to a specified percentage of the sale value of carpet wool subject to tax be paid by the Commonwealth to the Corporation during the next financial year for research and the other purposes of the Corporation; and

           (ii) accordingly, a specified rate of tax (expressed as a percentage of the sale value of carpet wool subject to tax and being the percentage recommended under subparagraph (i)) be taken into account in computing the rate of tax that is to be prescribed in respect of carpet wool for the purpose of the application of each of the Wool Tax Acts in respect of the next financial year.".

Notification of motions passed

12. Section 64 of the Principal Act is amended by adding at the end the following subsection:

"(2) The R & D Corporation in respect of the wool industry must also, within the same period, give to the Minister a copy of any motion of the kind referred to in paragraph 60 (2) (b) passed at the annual general meeting.".

Heading to Division 9 of Part 2

13.    The heading to Division 9 of Part 2 is amended by adding at the end "and Managing Director".

14.    Section 75 of the Principal Act is repealed and the following section is substituted:

Executive Director etc.

"75. (1) Each R & D Corporation other than the R & D Corporation in respect of the wool industry is to have an Executive Director.

"(2) The R & D Corporation in respect of the wool industry is to have a Managing Director.".

Employees

15. Section 87 of the Principal Act is amended by adding at the end the following subsections:

"(4) If the R & D Corporation in respect of the wool industry is established on 1 July 1991, a transferred employee:

    (a)     may not be employed by that Corporation on terms and conditions less favourable than those applying to the person immediately before being so employed; and

    (b)