Document ID: chunk:federal_register_of_legislation:C2004A04200:body:0:p2
Version: federal_register_of_legislation:C2004A04200
Segment Type: other
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Character Range: 2577–5436

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 Corporation an amount equal to the sum of:

     (c)     the amount that would be payable under paragraph 47(1)(b) of the repealed Act if that Act were still in force; and

     (d)     the amount that would be payable by way of interest if interest were payable on the amount referred to in paragraph (c), at the rate determined by the Minister, in respect of the period commencing on the day determined by the Minister and ending on the day on which the amount payable under this subsection is paid.

"(2) Money payable to the Corporation under subsection (1) is payable out of the Consolidated Revenue Fund, which is appropriated accordingly.

  "(3) A determination under paragraph (1)(d):

  (a)     must be in writing; and

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

Interest payable to Corporation where certain amounts payable under repealed Act remained unpaid on 30 June 1991

  "98B.(1) Where:

    (a)     an amount that was payable under paragraph 47(1)(b) of the repealed Act was paid to the Commission after 30 June .1991; and

    (b)     under regulations made under the Australian Wool Realisation Commission Act 1991, the Commission has paid to the Corporation an amount (in this subsection called the transferred amount') equal to so much of that amount as would be payable to:

         (i) the account maintained by the Commission under the name Promotion Reserve; and

          (ii) the account maintained by the Commission under the name General Reserve;

     if the repealed Act were still in force;

the Commonwealth must pay to the Corporation the amount that would be payable by way of interest if interest were payable on the transferred amount, at the rate determined by the Minister, in respect of the period commencing on the day determined by the Minister and ending on the day on which the transferred amount was paid.

"(2) Money payable to the Corporation under subsection (1) is payable out of the Consolidated Revenue Fund, which is appropriated accordingly.

  "(3) A determination under subsection (1):

   (a)     must be in writing; and

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

  "(4) In subsection (1):

'Commission' means the body corporate that:

     (a)     existed under the repealed Act with the name Australian Wool Corporation; and

     (b)     is continued in existence under the Australian Wool Realisation Commission Act 1991 with the name Australian Wool Realisation Commission.".

PART 4—AMENDMENT OF THE AUSTRALIAN WOOL REALISATION COMMISSION ACT 1991

Principal Act

8.     In this