The objectives for which the Company was established were and are still enshrined in its Memorandum. They include the following:
- 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 recognised 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 test and research carried out by the Authority.