Summary
Introduced with the Primary Industries (Excise) Levies Amendment (Dairy) Bill 2003, the bill provides for: the privatisation of the Australian Dairy Corporation (ADC) and its subsequent conversion into a company under the Corporations Act 2001, to be known as Dairy Australia Limited; and the transfer of assets, liabilities and staff of the Dairy Research and Development Corporation to the new company. Also: provides for an industry services body which will take over ADC’s role in relation to the Dairy Structural Adjustment Fund; simplifies the export control arrangements for dairy produce, retaining the function with the Commonwealth; makes consequential amendments to 6 Acts; repeals the Dairy Research and Development Corporation Regulations 1990 and contains transitional provisions.