Document ID: chunk:federal_register_of_legislation:C2004A05288:clause:1_55k
Version: federal_register_of_legislation:C2004A05288
Segment Type: clause
Provision Reference: sch 1 cl 55K
Character Range: 42642–44236

55K  Objects of nominated company B

 (1) The constitution of nominated company B must set out the following as objects of the company:
 (a) to maximise the net returns to Australian wheat growers who sell pool return wheat to the company by securing, developing and maintaining markets for wheat and wheat products and by minimising costs as far as is practicable;
 (b) to export new season wheat from Australia;
 (c) to trade in new season wheat in the course of, or for the purposes of:
 (i) trade and commerce amongst the States; or
 (ii) trade and commerce between a State and a Territory or between Territories; or
 (iii) trade and commerce within a Territory;
 (d) to make arrangements for the growing of wheat for the purposes of:
 (i) trade and commerce with foreign countries; or
 (ii) trade and commerce amongst the States; or
 (iii) trade and commerce between a State and a Territory or between Territories; or
 (iv) trade and commerce within a Territory;
 (e) to promote or fund the marketing of wheat;
 (f) an object approved, in writing, by the Minister for the purposes of this paragraph;
 (g) to do anything incidental to or conducive to any of the above objects.

 (2) The constitution of nominated company B must not set out any other objects.

 (3) Subsection (1) does not, by implication, affect the powers and capacities of nominated company B under the Corporations Law.

Note 1: Nominated company B may perform functions conferred on it by other provisions of this Act.

Note 2: Nominated company B may perform functions conferred on it by State laws—see section 55T.