7Excluded inferior wool

7.—(1.) Subject to this section, wool that is appraised by the Commission as wool of any of the types specified in the second column of the First Schedule to this Act is excluded wool for the purposes of this Act.

(2.) Regulations made from time to time under this Act may provide that this section is to have effect as if the First Schedule to this Act were varied in the manner provided by the regulations or as if a different Schedule were substituted for that Schedule.

(3.) For the purpose of determining whether any wool (not being wool to which the next succeeding section applies) is or was excluded wool, regard shall be had to the regulations made by virtue of this section that have effect, or are to be deemed to have had effect—

(a) in the case of a sale of P.A.P. wool—on the last day on which wool from the relevant pool is sold at auction; or

(b) in any other case—on the relevant day.

Allowance for excluded wool in private sale.