The Australian Wool Board [II] was constituted on 15 June 1945 under the Wool Use Promotion Act 1945, this Act repealing the Act which constituted the former Australian Wool Board [I] (CA 87).

The functions of the newly established Board were to promote the use of wool and to administer the Wool Use Promotion Fund into which were paid out of the Consolidated Revenue Fund all monies received by the Commissioner of Taxation under the Wool Tax Act 1936-1945. The Wool Use Promotion Fund was applied by the Board -

(a) for promoting by publicity and other means the use of wool in 
    Australia and other countries;
(b) for performing such other functions for the benefit of the 
    Australian wool industries as are approved by the Minister.
(c) in payment of expenses and other charges incurred by the Board 
    or for which the Board may become liable in carrying out its 
    functions;
(d) in payment of salaries and allowances of officer of the Board;  (e) in payment of remuneration, allowance and expenses payable in 
    accordance with this Act to members of the Board; and
(f) in investment in any securities of or guaranteed by the
    government of the Commonwealth or of a State.

The members appointed by the Governor-General on 17 July 1945 were J.P. Abbott, D.T. Boyd and A.J. McBride (nominated by the Australian Wool-growers Council); F.E. Hitchins, G.E. Humphreys and H.K. Knock (nominated by the Australian Wood Producers Federation) (Commonwealth of Australia Gazette No. 140 of 19 July 1945). The Commonwealth Wool Adviser was also a member of the Board.

The Wool Use Promotion Act 1953 repealed the 1945 Act, thus
abolishing the Board, on 1 July 1953. The Australian Wool Bureau (CA 216) was established and assumed the functions of the Board.
Historical agency address
Royal Insurance Building, 416 Collins Street, Melbourne
Legislation administered
Creation: Commonwealth of Australia Acts, No. 3 of 1945, Wool Use Promotion Act 1945
Abolition: Commonwealth of Australia Act, No. 23 of 1953, Wool Use Promotion Act 1953