Commonwealth Numbered Acts

WOOL TAX (No. 5) AMENDMENT ACT 1993 No. 70 of 1993 - SECT 3

3. Section 6 of the Principal Act is amended by omitting subsection (5) and
substituting the following subsection:

"(5) Before making regulations under this section prescribing a rate of tax
that is to apply in relation to a financial year commencing on or after 1 July
1994, the Governor-General is required to take into consideration:

   (a)  in the case of regulations to prescribe a rate for the purposes of
        paragraph 5(1)(b):

        (i)    the percentage fixed by subsection 43(2) of the Wool 
               International Act 1993 ; and

        (ii)   the recommendations that are the current recommendations
               applying to the financial year for the purposes of sections 49
               and 50 of the
               Australian Wool Research and Promotion Organisation Act 1993;
               or

   (b)  in the case of regulations to prescribe a rate for the purposes of
        paragraph 5(2)(b), the recommendations that are the current
        recommendations applying to the financial year for the purposes of
        sections 49 and 50 of the
        Australian Wool Research and Promotion Organisation Act 1993.".