CTHRepealedAct
Australian Wool Research and Promotion Organisation Act 1993
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Australian Wool Research and Promotion Organisation Act 1993
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Turn the raw legal text into a practical explanation grounded in Australian Wool Research and Promotion Organisation Act 1993.
(1) The Organisation may enter into an agreement (including a joint venture agreement or a partnership agreement) under which research and development activities are to be carried out by the Organisation and the other party to the agreement. (2) Without limiting the matters that may be included in the agreement, the agreement is to specify:
(a) the objectives of the research and development activities; and
(b) the expected duration of those activities; and
(c) the nature and extent of the contribution to be made by the Organisation towards those activities; and
(d) the basis for the distribution of profits and other benefits derived from those activities.
(3) Nothing in this section limits the powers of the Organisation under section 7.