Commonwealth Numbered Acts

AUSTRALIAN MEAT AND LIVE-STOCK CORPORATION ACT 1977 No. 67 of 1977 - SECT 3

3. (1) The following Acts are repealed:-

Meat Industry Act 1964;

Meat Industry Act 1965;

Meat Industry Act 1969.

(2) Upon the commencing date-

   (a)  any rights, property or assets that immediately before that date were
        vested in the Board are, by force of this sub-section, vested in the
        Corporation; and

   (b)  the Corporation becomes, by force of this sub-section, liable to pay
        and discharge any debts, liabilities or obligations of the Board that
        existed immediately before that date.

(3) An arrangement or contract entered into by or on behalf of the Board as a
party and in force immediately before the commencing date continues in force,
notwithstanding the repeal of the Acts specified in sub-section (1), but that
arrangement or contract has effect, on and after the commencing date, as if-

   (a)  the Corporation were substituted for the Board as a party to the
        arrangement or contract; and

   (b)  any reference in the arrangement or contract to the Board were (except
        in relation to matters that occurred before that date) a reference to
        the Corporation.

(4) An instrument or document that the Secretary to the Department of Primary
Industry or an officer of that Department authorized by him in writing for the
purpose of this sub-section certifies to have been made, executed or given by
reason of, or for a purpose connected with or arising out of, the operation of
this section is not liable to stamp duty or other tax under a law of the
Commonwealth or of a State or Territory.

(5) Where, immediately before the commencing date, proceedings to which the
Board was a party were pending in any court, the Corporation is, by force of
this sub-section, substituted for the Board as a party to the proceedings and
has the same rights in the proceedings as the party for which it is
substituted.

(6) The Corporation shall, as soon as practicable after the commencing date,
prepare and furnish to the Minister a report of the operations of the Board
during the period that commenced on 1 July 1977 and ended immediately before
the commencing date (in sub-section (7) referred to as the ''final period''),
together with financial statements in respect of that period in such form as
the Treasurer approves.

(7) Before furnishing the financial statements to the Minister, the
Corporation shall submit them to the Auditor-General, who shall report to the
Minister-

   (a)  whether the statements are based on proper accounts and records;

   (b)  whether the statements are in agreement with the accounts and records
        and show fairly the financial operations and state of affairs of the
        Board;

   (c)  whether the receipt, expenditure and investment of moneys, and the
        acquisition and disposal of assets, by the Board during the final
        period have been in accordance with the repealed Acts; and

   (d)  as to such other matters arising out of the statements as the
        Auditor-General considers should be reported to the Minister.

(8) The Minister shall cause copies of the report and financial statements
referred to in sub-section (6), together with a copy of the report of the
Auditor-General, to be laid before each House of the Parliament within 15
sitting days of that House after their receipt by the Minister.

(9) If the Board does not prepare and furnish to the Minister before the
commencing date a report of the operations of the Board during the year that
commenced on 1 July 1976, together with financial statements in respect of
that year in such form as the Treasurer approves, the Corporation shall, as
soon as practicable after the commencing date, prepare and furnish such a
report to the Minister, together with financial statements in respect of that
period, and sub-sections (7) and (8) apply to and in relation to that report
and those financial statements in like manner as they apply to and in relation
to the report and financial statements referred to in sub-section (6).

(10) The persons who, immediately before the commencing date, were members of
the Board shall furnish to the Corporation such information as is necessary to
enable the Corporation to prepare the report and financial statements referred
to in sub-section (6) and the report and financial statements (if any)
required by sub-section (9).