Document ID: chunk:federal_register_of_legislation:C2004A04184:body:0:p6
Version: federal_register_of_legislation:C2004A04184
Segment Type: other
Provision Reference: 
Character Range: 12256–14942

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)     is entitled to retain all benefits that, immediately before the person became so employed, had accrued to him or her in connection with his or her employment under the Wool Marketing Act 1987 and any subsequent employment, as if those benefits were benefits relating to the employment of the person by the R & D Corporation.

  "(5) In subsection (4):

'Commission' means the body corporate that:

    (a)     existed under the Wool Marketing Act 1987 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;

'transferred employee' means a person who:

    (a) is employed by the R & D Corporation in respect of the wool industry; and

    (b)    was immediately before 1 July 1991 a person employed under section 37 of the Wool Marketing Act 1987; and

    (c)    has been, at all times on and after that day and before becoming employed or last becoming employed (as the case may be) by the R & D Corporation, an employee of the Commission, of the R & D Corporation or of the Australian Wool Corporation.".

16. After section 89 of the Principal Act the following section is inserted:

Minister to notify R & D Corporation in respect of wool industry about variation in rate of tax recommended by general meeting

  "89A. (1) In this section:

'relevant rate of tax' means the rate of tax prescribed in respect of shorn wool (other than carpet wool) or carpet wool for the purposes of the application of each of the Wool Tax Acts in respect of a financial year.

  "(2) Where a percentage of the sale value of:

  (a)     shorn wool (other than carpet wool) subject to tax; or

  (b)     carpet wool subject to tax;

other than the percentage specified in a recommendation made by an annual general meeting of the R & D Corporation in respect of the wool industry in relation to the prescription of a relevant rate of tax, was used in computing the relevant rate of tax, the Minister must give written notice of that fact to the Corporation, specifying the percentage that was so used.".

17. After section 147 of the Principal Act the following section is inserted:

       Establishment of R & D Corporation in respect of wool industry—transitional provisions etc.

"147a. If the R & D Corporation in respect of the wool industry is established on 1 July 1991, the regulations may