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 11 ; and
(b) assets and liabilities of the Sugar Research and Development Corporation are transferred to the first industry services body by the Sugar Research and Development Services (Consequential Amendments and Transitional Provisions) Act 2013 .