Document ID: chunk:federal_register_of_legislation:C2004A04200:body:0:p3
Version: federal_register_of_legislation:C2004A04200
Segment Type: other
Provision Reference: 
Character Range: 5140–7931

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 Part, "Principal Act" means the Australian Wool Realisation Commission Act 19913.

9.     After section 80 of the Principal Act the following sections are inserted:

Payment to Commission—where tax imposed before 1 July 1991 is received on or after that day

  "80A.(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    (b)     if the repealed Act were still in force at the time when the tax or additional tax is received, amounts would be payable to the Corporation (within the meaning of that Act)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 Commission an amount equal to the sum of:

     (c)     the amount that would be payable under paragraph 47(1)(a) of that 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 Commission 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Interest payable to Commission where certain amounts payable under repealed Act remained unpaid on 30 June 1991

"80B.(1) Where an amount that was payable under paragraph 47(1)(a) of the repealed Act is paid to the Commission after 30 June 1991, the Commonwealth must pay to the Commission interest on that amount, at the rate determined by the Minister,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 that amount is paid.

"(2) Money payable to the Commission 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.".

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

Principal Act

10. In this Part, "Principal Act" means