The object of this Act is to promote a sustainable livestock industry and associated industries by:
(a) establishing methods of identifying and tracing livestock; and
(b) supporting market access to, and product integrity of, livestock and livestock products; and
(ba) providing for the making and enforcement of biosecurity management plans; and
(c) regulating the movement of livestock, animal products and other things associated with livestock; and
(d) protecting the health and welfare of livestock by establishing standards and procedures for managing livestock, controlling diseases and implementing the national biosecurity strategy and by other means; and
(e) providing compensation for losses caused by certain livestock diseases.