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Forestry Marketing and Research and Development Services Bill 2007

Part 3 Industry services body

   

10   Simplified outline of this Part

                   The following is a simplified outline of this Part:

The Minister may declare a company to be the industry services body if there is a contract under Part 2 with the company and the Minister is satisfied that the company will comply with its contractual and statutory obligations.

The Minister may declare that a company ceases to be the industry services body in certain circumstances (for example, if the company requests it, the company does not comply with its contractual and statutory obligations or the company is wound up).

Note:          The significance of being the industry services body is that:

(a)           the industry services body must comply with directions given by the Minister in the national interest under section 13; and

(b)           assets, liabilities and staff of the Forest and Wood Products Research and Development Corporation are transferred to the first industry services body by the Forestry Marketing and Research and Development Services (Transitional and Consequential Provisions) Act 2007 .

11   Declaration of industry services body

             (1)  The Minister may, in writing, declare a company to be the industry services body if:

                     (a)  the Commonwealth and the company have entered into a funding contract; and

                     (b)  the Minister is satisfied that, if the company is so declared, it will comply with its obligations under the funding contract and this Act.

Declaration takes effect immediately

             (2)  A declaration under this section takes effect immediately after it is made.

Tabling in Parliament

             (3)  The Minister must cause a copy of a declaration under this section to be tabled in each House of the Parliament within 15 sitting days of that House after the day on which the declaration is made.

Declaration is not a legislative instrument

             (4)  A declaration made under subsection (1) is not a legislative instrument.

12   Cessation of declaration of industry services body

             (1)  If any of the following apply, the Minister may declare in writing that the company that is the industry services body ceases to be the industry services body:

                     (a)  the company gives the Minister a written request that the declaration be made;

                     (b)  the Minister has reasonable grounds to believe that the company has contravened this Act or the funding contract with the company;

                     (c)  the Minister has reasonable grounds to believe that:

                              (i)  the company’s constitution is no longer appropriate for a company performing the functions of the industry services body; or

                             (ii)  the company has failed to comply with its constitution;

                     (d)  an administrator of the company is appointed;

                     (e)  the company starts to be wound up or ceases to carry on business;

                      (f)  a receiver, or a receiver and manager, of property of the company is appointed (by a court or otherwise);

                     (g)  the company enters into a compromise or arrangement with some or all of its creditors.

             (2)  The declaration must specify the day on which the company is to cease to be the industry services body.

             (3)  The declaration has effect accordingly.

Tabling in Parliament

             (4)  The Minister must cause a copy of the declaration to be tabled in each House of the Parliament within 15 sitting days of that House after the day on which the declaration is made.

Declaration is not a legislative instrument

             (5)  A declaration made under subsection (1) is not a legislative instrument.