Commonwealth Consolidated Acts Commonwealth Consolidated ActsThe 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 .