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	Memorandum

1: Company Name

2: Objects

3: No Profit or Dividend to Members

4: Winding Up or Dissolution

5: Accounts

6: Limited Liability

7: Member Contributions on Winding Up

8: Subscribers

Objects

To acquire from the Australian Wool Corporation such of the testing facilities used by the Australian Wool Testing Authority ("the Statutory Authority") as are necessary or desirable to enable the Authority to perform the functions performed by the Statutory Authority.
To promote sales of Australian wool by encouraging the growth and utilisation of objective measurement of wool, particularly by presale testing.
To test wool and other fibres, whether natural or otherwise, and wool products and similar products made wholly or partly from other fibres.
To provide an accurate and impartial testing service based upon internationally recognized testing standards as an aid to efficient wool marketing.
To conduct wool, fibre and textile research and/or to carry out tests on other materials and products where such activities assist or promote the development of the pastoral, agricultural manufacturing or industrial resources of Australia.
To maximise the net income of the Australian wool industry by encouraging the optimum application of objective measurement of wool by wool growers, brokers, buyers and both local and overseas processors.
To optimise wool industry productivity through research and the implementation of new systems and technology.
To establish, equip and maintain laboratories, workshops and other places suitable for testing and research activities.
To provide and encourage the provision of data processing services aimed at the more efficient marketing of wool.
Generally to promote and foster the more efficient testing of wool as required by the wool and textile industry at a minimum cost.
To provide certificates and make reports in respect of tests and research carried out by the Authority.
For the purpose of attaining the objects hereinbefore mentioned and for no other purpose to exercise all or any of the following powers:-
- To purchase, take on lease or in exchange, hire or otherwise acquire any real or personal property and any rights or privileges which may be necessary or convenient for the promotion of its objects and to construct, maintain and alter any buildings or erections.
- To apply for, purchase, or otherwise acquire any patents, patent rights, copyrights, trade marks, formulas, licences, concessions, and the like, conferring any exclusive or non-exclusive or limited right to use, or any secret or other information as to, any invention which may seem capable of being used for any of the purposes of the Authority, or the acquisition of which may seem calculated directly or indirectly to benefit the Authority; and to use, exercise develop, or grant licences in respect of, or otherwise turn to account, the property, rights or information so acquired.
- To sell, let, mortgage, dispose of or turn to account all or any of the property or assets of the Authority as may be expedient.
- To enter into any arrangements with any government authority, municipal, local or otherwise that may seem conducive to the Authority's objects, or any of them; and to obtain from any such government or authority any rights, privileges, and concessions which the Authority may think it desirable to obtain; and to carry out, exercise, and comply with any such arrangements, rights, privileges, and concessions.
- To borrow or raise money for the purpose of the Authority on such terms and on such security as may be thought fit and to secure the same or the repayment or performance of any debt, liability, interest, guarantee or other engagement incurred or to be entered into by the Authority in any way and in particular by the issue of debentures perpetual or otherwise charged upon all or any of the Authority's property and to purchase, redeem or pay off any such securities.
- To invest the moneys of the Authority not immediately required for its purpose in or upon such investments, securities or property as may be thought fit.
- To make, draw, accept, endorse, discount, execute and issue promissory notes, bills of exchange, bills of lading and any negotiable or transferable instruments.
- To establish and support or aid in the establishment or support of associations, institutions, funds, and trusts calculated to benefit employees or past employees of the Authority or of the Statutory Authority, or the dependants or connections of any such persons, and to grant pensions and allowances, or guarantee money for charitable or benevolent objects, or for any exhibition or for any public, general, or useful object.
- To adopt such means of making known and advertising the services provided by the Authority as may seem expedient.
- To procure the Authority to be registered or recognised in any State or place outside the State of Victoria.
- To carry out all or any of the objects of the Authority and do all or any of the above things in any part of the world and either as principal, agent, contractor, or trustee, or otherwise, and by or through trustees or agents or otherwise and either alone or in conjunction with others.
- To do all such other things as are incidental or conducive to the attainment of the above objects or any of them.

The provisions in the Third Schedule to the Companies Act 1961 do not apply to the Authority and the foregoing provisions of this clause shall be read and construed without reference to the provisions of that Schedule.