MARKETING OF POTATOES AMENDMENT AND REPEAL ACT 2016 (NO. 22 OF 2016) - SECT 8

MARKETING OF POTATOES AMENDMENT AND REPEAL ACT 2016 (NO. 22 OF 2016) - SECT 8

8 .         Section 17AA inserted

                At the beginning of Part II Division 2 insert:

17AA.         Corporation to continue performing its functions for certain purposes

        (1)         The Corporation must continue to perform its functions under this Act, but only for the following purposes —

            (a)         to complete any domestic marketing pool that was established, but not concluded, immediately before the commencement of this section;

            (b)         to continue any legal proceedings as far as is reasonably practicable until transition day and to make all reasonable endeavours to facilitate the continuation of those proceedings by the State on and after that day in accordance with Part 6;

            (c)         to prepare reports and financial statements, including to facilitate the preparation of the final report required under the Financial Management Act 2006 Part 5 Division 3;

            (d)         to wind up its affairs (including realising its assets and discharging its liabilities) as soon as practicable but, in any case, not later than transition day.

        (2)         The Corporation may do all things necessary or convenient to be done for acting under subsection (1) including —

            (a)         entering into negotiations with commercial producers on any matter relating to its winding up; and

            (b)         executing a contract, deed or other instrument necessary for its winding up.

        (3)         This section overrides sections 17A and 19 and those sections must be read as if the Corporation’s functions were conferred only to give effect to the purposes specified in subsection (1).