Document ID: chunk:federal_register_of_legislation:C2004A05288:section:3
Version: federal_register_of_legislation:C2004A05288
Segment Type: section
Provision Reference: s 3
Character Range: 5264–6217

3  Simplified outline

  The following is a simplified outline of this Part (when read together with the amendments of the Wheat Marketing Act 1989 made by this Act):

         • The first step towards the new structure for the Australian Wheat Board will be the establishment of the following companies (the designated companies) to take over the commercial activities of the Board:

                (a) a wholly-owned subsidiary of the Board (in this Part called nominated company A);
                (b) a number of wholly-owned subsidiaries of nominated company A.

         • This Part enables certain assets, contracts and liabilities to be transferred from the Board to the designated companies.
         • This Part enables the transfer of staff from the Board to nominated company A.
         • This Part also provides for ancillary matters in relation to the takeover by the designated companies of the commercial activities of the Board.