New South Wales Consolidated Acts

RICE MARKETING ACT 1983 - SECT 73

73 Winding up and dissolution

(1) Where a marketing order ceases to have effect or is revoked, the committee to which the order relates shall proceed to wind up its affairs under the order.

(2) Notwithstanding subsection (1):

(a) the Governor may, by proclamation, appoint any person to be liquidator for the purpose of the winding up, and

(b) the liquidator may, for that purpose, on behalf and in the name and as the act and (where necessary) under the seal of the committee, bring and defend such proceedings, and do and execute such acts, deeds and things, as may be necessary.

(3) A proclamation under subsection (2) may revoke a declaration of a primary product as a commodity for the purposes of this Act, and may contain such provisions of a savings or transitional nature as the Governor thinks appropriate in consequence of such a revocation.

(4) The reasonable costs and expenses (including remuneration) incurred by or in connection with the appointment of, and exercise of the functions of, a liquidator appointed under this section, as certified from time to time by the Minister, shall be payable from the funds of the committee.

(5) The members of a committee may not exercise any functions as members while a person holds office as liquidator of the committee.

(6) Where the Minister is of the opinion that the affairs of a committee are wound up, the Governor may, by proclamation, dissolve the committee, and all money and other assets of the committee shall become the property of the State and shall be dealt with and disposed of as the Governor may direct.

(7) A marketing order referred to in this section shall be deemed to continue in force for such period and to such extent as is necessary to enable the affairs of a committee to be wound up under this section.

(8) This section does not apply to a marketing order to which section 73A applies.