Australian Capital Territory Numbered Acts

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TERRITORY OWNED CORPORATIONS ACT 1990 (NO. 53 OF 1990)


TABLE OF PROVISIONS

           Long Title

   PART I--PRELIMINARY SHORT TITLE

   1.      This Act may be cited as the Territory Owned Corporations Act 1990.  
   2.      Commencement  
   3.      Interpretation  
   4.      Construction of Act  
   5.      Application to the Crown  

   PART II--ESTABLISHMENT OF CORPORATIONS TERRITORY OWNED CORPORATIONS

   6.      (1) A company specified in Schedule 1 is a Territory owned corporation.  
   7.      Principal objective of corporations  
   8.      Status  
   9.      Notification to the Assembly  
   10.     Legal obligations  
   11.     Memorandum and articles  
   12.     Directors  
   13.     Shares in corporations  
   14.     Acquisition of subsidiaries  

   PART III--ACCOUNTABILITY PROVISION OF INFORMATION

   15.     A Territory owned corporation or a subsidiary shall, upon request, provide to the voting shareholders all the information that they may require.  
   16.     Acquisition and disposal of subsidiaries and undertakings  
   17.     Directions to corporations  
   18.     Audit  
   19.     Preparation of statement of corporate intent  
   20.     Statement of corporate intent  
   21.     Moification of statement  
   22.     Annual report  
   23.     Financial year  

   PART IV--BORROWING BORROWING FROM TERRITORY

   24.     The Treasurer may, on behalf of the Territory, out of money appropriated by the Legislative Assembly for the purpose, lend money to a Territory owned corporation or a subsidiary on such terms and conditions as the Treasurer, by instrument, determines.  
   25.     Borrowing otherwise than from Territory  
   26.     Security  
   27.     Borrowing not otherwise permitted  
   28.     Guarantee by Territory  

   PART V--TAXATION TERRITORY TAXES

   29.     (1) Tax is not payable by a Territory owned corporation or a subsidiary in relation to—  
   30.     Commonwealth tax equivalents  
   31.     Borrowing levy  

   PART VI--MISCELLANEOUS PROFITS AVAILABLE FOR PAYMENT OF DIVIDENDS

   32.     (1) A Territory owned corporation or subsidiary shall pay a dividend only out of moneys lawfully available for the purpose.  
   33.     Voting equality  
   34.     Regulations  
           SCHEDULE 1
           SCHEDULE 2
           SCHEDULE 3


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