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Thursday, 5 December 1974
Page: 3229

Senator MAUNSELL (Queensland) - In accordance with the amendments which have been circulated, I move:

Insert the following new clause: 10a. After proposed section 28a of the Principal Act the following sections are inserted: 28b. ( 1 ) An account is hereby established to be known as the Market Support Trust Account.

(2)   The Market Support Trust Account is a Trust Account for the purposes ofsection 62 a of the Audit Act 1 90 1 - 1 969. 28c. (1) There shall be paid into the Market Support Trust Account-

(a   ) all moneys received in respect of Wool Tax Acts ( Nos 1to 5) 1974; and

(b)   interest from the investment of moneys standing to the credit of the Trust Account.

(2)   Amounts payable into the Market Support Trust Account by virtue of paragraph1 (a) are payable out of moneys to be appropriated by the Parliament for that purpose. 28D. The Minister shall, as soon as practicable after 30 June 1975, cause a report of the operation of the Market Support Trust Account during the year ended on that date to be laid before each House of the Parliament. ' ".

Actually, the intention to move for the insertion of this new clause was provisional upon proposed new section 28a being agreed to.

Proposed new clause negatived.

Clause 1 1 agreed to.

Clause 12.

After section 39 of the Principal Act the following section is inserted: 39a. Without limiting the functions of the Corporation under section 38, the functions of the Corporation include, to such extent as the Minister approves, trading in wool and wool products, acquiring and supplying wool for the purposes of programs of aid by Australia to other countries, and manufacturing, or arranging for the manufacture, of wool products. '.

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