4Interpretation

4.—(1.) In this Act, unless the contrary intention appears—

“approved auction” means an auction in respect of which the reserve price scheme of the Commission is in operation;

“deficiency payment” means a deficiency payment paid or payable in accordance with this Act;

“excluded wool” means wool that is excluded wool in accordance with section 7 of this Act;

“P.A.P. wool” means wool that has been identified as wool for marketing under the price averaging plan conducted by the Commission;

“registered broker” means a person who is. or persons carrying on business in partnership who are, registered under this Act as a registered broker;

“registered export agent” means a person who is, or persons carrying on business in partnership who are, registered under this Act as a registered export agent;

“registered merchant” means a person who is, or persons carrying on business in partnership who are, registered under this Act as a registered merchant;

“registered person” means a registered broker, a registered merchant, a registered wool classing house, a registered seller by tender or a registered export agent;

“registered seller by tender” means a person who is, or persons carrying on business in partnership who are, registered under this Act as a registered seller by tender;

“registered wool classing house” means a person who is, or persons carrying on business in partnership who are, registered under this Act as a registered wool classing house;

“sale by tender”, in relation to wool, means sale of the wool by acceptance of a tender submitted upon a public invitation of tenders for the purchase of the wool;

“the Commission” means the Australian Wool Commission established by the Australian Wool Commission Act 1970;

“the prescribed period” means the period that commenced on the second day of July, One thousand nine hundred and seventy-one, and ends on the thirtieth day of June, One thousand nine hundred and seventy-two;

“the producer”, in relation to wool, means—

(a) except where paragraph (b) or (c) of this definition applies— the person who owns the wool immediately after it is shorn;

(b) where an agreement to sell the wool separately from the sheep was made before the wool was shorn—the person who owned the sheep immediately before the sale; or

(c) where a gift of the wool is made before any sale of the wool has taken place—the person to whom the wool is given,

and, for the purposes of this definition, a person who has rights in the nature of an equity of redemption in respect of wool or sheep the subject of a mortgage or other security shall be deemed to be the owner of the wool or sheep;