Commonwealth Numbered Regulations - Explanatory Statements

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AUSTRALIAN WOOL RESEARCH AND PROMOTION ORGANISATION (AGM) REGULATIONS 1995 NO. 8

EXPLANATORY STATEMENT

STATUTORY RULES 1995 No. 8

Issued by the authority of the Minister for Primary Industries and Energy

Australian Wool Research and Promotion Organisation Act 1993

Australian Wool Research and Promotion Organisation (AGM) Regulations

The Australian Wool Research and Promotion Organisation Act 1993 (the Act) provides that the Governor-General may make regulations for the purpose of prescribing all matters required or permitted by this Act to be prescribed.

The Act provides for the establishment of the Australian Wool Research and Promotion Organisation (AWRAP) and its functions, powers, membership and related matters. AWRAP, which is responsible for generic promotion and research and development, was established on 1 December 1993 when the relevant parts of the Act commenced by Proclamation.

Part 5 of the Act provides for Annual General Meetings (AGM) of wool-tax payers to be conducted by AWRAP. AWRAP is required to hold an AGM of wool-tax payers every financial year, from 1 July 1994. Wool-tax payers are defined as persons who, during the preceding financial year, incurred a liability to pay, and paid, wool tax. The only other persons who may attend an AGM are the members of the AWRAP Board and persons invited by the Chairperson. An AGM is to consider a motion to receive the annual report and financial statements, receive an address by the Chairperson, consider any motions of no confidence moved by wool-tax payers and provide a forum for the questioning of AWRAP members. Only wool-tax payers are entitled to vote.

Section 26 of the Act provides that regulations may prescribe the procedure to be followed at, and in any matters related to, an AGM. The purpose of the regulations is to specify these requirements. The procedures contained in the regulations broadly cover notification of various matters, including the convening of the AGM, the timing of lodgement of motions and the giving of notice by, and to, wool-tax payers, together with the administration of the AGM in relation to voting.

Details of the Regulations; are set out in the Attachment.

The Regulations commenced on gazettal.


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