Food standards Australia and New Zealand, set the standards for our food, have a look at their web site:
http://www.foodstandards.gov.au/aboutfsanz/
Not much on there about looking after peoples health.
As long as it does not kill you outright and can be swallowed it must be food, I think that is how they work.
I can see parallels to ASIC in the way they operate.
They are also responsible for labeling of food, which says it all! or does it?
