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This is a Bill, not an Act. For current law, see the Acts databases.


CENTRAL QUEENSLAND COAL ASSOCIATES AGREEMENT VARIATION BILL 1996

       Queensland




CENTRAL QUEENSLAND
  COAL ASSOCIATES
AGREEMENT VARIATION
      BILL 1996

 


 

Queensland CENTRAL QUEENSLAND COAL ASSOCIATES AGREEMENT VARIATION BILL 1996 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2 Making of agreement authorised . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 SCHEDULE . . . . . . . . . . . . . . . . . . . . . . . . . 5 AGREEMENT

 


 

 

1996 A BILL FOR An Act to authorise the making of an agreement amending the agreement made under the Central Queensland Coal Associates Agreement Act 1968

 


 

s1 4 s2 Central Queensland Coal Associates Agreement Variation The Parliament of Queensland enacts-- 1 title 2 Short 1. This Act may be cited as the Central Queensland Coal Associates 3 Agreement Variation Act 1996. 4 of agreement authorised 5 Making 2.(1) The Premier is authorised, for the State, to make an agreement with 6 the parties named in the agreement in the schedule. 7 (2) The agreement must be substantially in the form set out in the 8 schedule. 9 (3) The Premier must notify the date of making the agreement by gazette 10 notice. 11 12

 


 

5 Central Queensland Coal Associates Agreement Variation CHEDULE 1 S AGREEMENT 2 section 2 3 AN AGREEMENT made the day of 1996 4 BETWEEN the Honourable ROBERT BORBIDGE in his capacity as the 5 Premier of Queensland, for and on behalf of the Government of the State of 6 Queensland of the first part 7 AND BHP AUSTRALIA COAL PTY LTD ACN 010 595 721 8 (formerly Utah Development Company), a company duly incorporated 9 according to law and having its registered office at Level 13, Riverside 10 Centre, 123 Eagle Street, Brisbane, Queensland ("BHPAC") 11 MITSUBISHI DEVELOPMENT PTY LTD ACN 009 779 873, a 12 company duly incorporated according to law and having its registered office 13 at Level 22, Riverside Centre, 123 Eagle Street, Brisbane, Queensland 14 ("Mitsubishi") 15 AUSTRALIAN MUTUAL PROVIDENT SOCIETY ARBN 008 387 16 371, a body corporate duly constituted according to law having its principal 17 office at A.M.P. Place, 10 Eagle Street, Brisbane, Queensland ("AMP") 18 UMAL CONSOLIDATED LIMITED ACN 000 767 386 (formerly 19 Utah Mining Australia Limited), a company duly incorporated according to 20 law and having its registered office at Level 13, Riverside Centre, 123 Eagle 21 Street, Brisbane, Queensland ("UCL") 22 BHP QUEENSLAND COAL LIMITED ARBN 010 506 073, a 23 company duly incorporated according to law and having its registered office 24 at Level 13, Riverside Centre, 123 Eagle Street, Brisbane, Queensland 25 ("BHPQ") 26 QCT RESOURCES LIMITED ACN 010 808 705, a company duly 27 incorporated according to law and having its registered office at 10th Floor, 28 307 Queen Street, Brisbane, Queensland ("QRL"); and 29

 


 

6 Central Queensland Coal Associates Agreement Variation SCHEDULE (continued) QCT INVESTMENT PTY LTD ACN 010 487 831, a company duly 1 incorporated according to law and having its registered office at 8th Floor, 2 410 Queen Street, Brisbane, Queensland ("QCT Investment"); and 3 QCT MINING PTY LTD ACN 010 487 840, a company duly 4 incorporated according to law and having its registered office at 8th Floor, 5 410 Queen Street, Brisbane, Queensland ("QCT Mining") of the second 6 part 7 (hereinafter with their and each of their successors and permitted assigns 8 referred to as "the Continuing Companies"); and 9 PANCONTINENTAL COAL PTY LIMITED ACN 010 168 484, a 10 company duly incorporated according to law and having its registered office 11 at Level 36, Gateway, 1 Macquarie Place, Sydney, New South Wales 12 ("Pancontinental Coal"); and 13 BOWEN BASIN MINERALS PROPRIETARY LIMITED ACN 14 010 636 174, a company duly incorporated according to law and having its 15 registered office at Level 36, Gateway, 1 Macquarie Place, Sydney, New 16 South Wales ("Bowen Basin Minerals") of the third part 17 (hereinafter with their and each of their successors and permitted assigns 18 referred to as "the Selling Companies"). 19 WHEREAS:-- 20 A. Utah Development Company and Mitsubishi on the 28th day of 21 January, 1969 entered into an agreement with the State of Queensland 22 relating to the development of certain coal deposits in Queensland 23 (which agreement as amended by further agreements made between 24 the Honourable Johannes Bjelke-Petersen in his capacity as the 25 Premier of Queensland, for and on behalf of the State of Queensland 26 of the one part and Utah Development Company and Mitsubishi of the 27 other part and dated 18th June, 1970, 11th June, 1971, 23rd October, 28 1973 and 27th May, 1976 and by further agreements made between 29 the Honourable Johannes Bjelke-Petersen in his capacity as the 30 Premier of Queensland, for and on behalf of the State of Queensland 31 of the one part and Utah Development Company, Mitsubishi, AMP 32

 


 

7 Central Queensland Coal Associates Agreement Variation SCHEDULE (continued) and UCL of the other part dated 1st February, 1977 and 1 16th February, 1984 and by further agreement made between the 2 Honourable Johannes Bjelke-Petersen in his capacity as the Premier of 3 Queensland, for and on behalf of the State of Queensland of the one 4 part and Utah Development Company, Mitsubishi, AMP UCL, 5 Pancontinental Mining Limited ("Pancontinental"), Bell Coal Pty Ltd 6 ("Bell"), General Electric Minerals, Inc., UB Minerals, Inc. ("UB 7 Minerals"), Bowen Basin Minerals, Inc., QCT Investment and QCT 8 Mining of the other part dated 2nd April, 1984 and by further 9 agreement made between the Honourable Johannes Bjelke-Petersen in 10 his capacity as the Premier of Queensland, for and on behalf of the 11 State of Queensland of the one part and BHPAC (then known as Utah 12 Development Company Limited), Mitsubishi, AMP, UCL, 13 Pancontinental, Bell, BHPQ (then known as Utah Queensland Coal 14 Limited "UQCL"), UB Minerals, Bowen Basin Minerals, QCT 15 Investment and QCT Mining of the other part dated 30th September, 16 1986 and by further agreement made between Theo Russell Cooper in 17 his capacity as the Premier of Queensland, for and on behalf of the 18 Government of the State of Queensland of the first part and BHPAC 19 (then known as BHP-Utah Coal Limited "BUCL"), Mitsubishi, 20 AMP, UCL, Pancontinental, BHPQ (then known as Utah Queensland 21 Coal Limited), Bowen Basin Minerals, QCT Investment and QCT 22 Mining of the second part and Bell and UB Minerals of the third part 23 dated 27 September, 1989, and by a further agreement made between 24 Wayne Keith Goss in his capacity as the Premier of Queensland, for 25 and on behalf of the State of Queensland of the one part and BHPAC 26 (then known as BHP Australia Coal Limited), Mitsubishi, AMP, 27 UCL, BHPQ (then known as Utah Queensland Coal Limited), Bowen 28 Basin Minerals, QCT Investment, QCT Mining, Pancontinental and 29 Pancontinental Coal of the other part dated 30 November 1992 and by 30 a further agreement made between Wayne Keith Goss is his capacity 31 as the Premier of Queensland, for and on behalf of the State of 32 Queensland of one part and BHPAC, Mitsubishi, AMP, UCL, 33 BHPQC, Bowen Basin Minerals, QCT Investment, QCT Mining and 34 Pancontinental Coal of the other part dated 16 May 1995 is referred to 35 as "the Agreement"; 36

 


 

8 Central Queensland Coal Associates Agreement Variation SCHEDULE (continued) B. The Agreement was authorised by the Central Queensland Coal 1 Associates Agreement Act 1968 (the "Principal Act"); 2 C. By way of universal succession Utah Development Company has 3 merged into BHPAC, a company incorporated in the State of 4 Louisiana, United States of America and then known as Utah 5 Development Company Limited with the consequence that BHPAC as 6 the successor of Utah Development Company has all the assets and 7 liabilities of Utah Development Company including its benefits and 8 obligations under the Agreement, and pursuant to the Louisiana 9 Business Corporation Law and the Companies (Queensland) Code, 10 BHPAC (then known as Utah Development Company Limited) has 11 transferred its place of incorporation to the State of Queensland. 12 D. By way of universal succession General Electric Minerals, Inc. has 13 merged into BHPQ (then known as Utah Queensland Coal Limited), a 14 company incorporated in the State of Nevada, United States of 15 America with the consequence that BHPQ as the successor of General 16 Electric Minerals, Inc. has all the assets and liabilities of General 17 Electric Minerals, Inc. including its benefits and obligations under the 18 Agreement. 19 E. By way of universal succession Bowen Basin Minerals, Inc., merged 20 into Bowen Basin Minerals, a company incorporated in the State of 21 Queensland, Australia with the consequence that Bowen Basin 22 Minerals as the successor of Bowen Basin Minerals, Inc. has all the 23 assets and liabilities of Bowen Basin Minerals, Inc. including its 24 benefits and obligations under the Agreement. 25 F. Bell and UB Minerals transferred their entire interests in the benefits 26 and obligations under the Agreement to various of the Continuing 27 Companies and Selling Companies in 1989. 28 G. The interests held by the Continuing Companies and the Selling 29 Companies in the operations carried on pursuant to the Agreement are 30 as follows:-- 31 BHPAC 35.47% 32 Mitsubishi 13.33% 33

 


 

9 Central Queensland Coal Associates Agreement Variation SCHEDULE (continued) AMP 8.61% 1 UCL 0.75% 2 Pancontinental Coal 3.00% 3 BHPQ 8.50% 4 Bowen Basin Minerals 2.56% 5 QCT Investment 12.00% 6 QCT Mining 15.78% 7 H. Pancontinental Coal wishes to transfer its 3% interest in the benefits 8 and obligations made under the Agreement (including its rights to or 9 as the holder of a 3.00% interest in any lease, licence, easement, grant 10 or other title granted to it pursuant thereto) to BHPAC, Mitsubishi and 11 to QRL which has been nominated by QCT Mining and QCT 12 Investments to take their shares of this percentage interest to be held by 13 them respectively as follows:-- 14 BHPAC 1.56475% 15 Mitsubishi 0.46403% 16 QRL 0.97122% 17 3.00000% 18 I. Bowen Basin Minerals wishes to transfer its 2.56% interest in the 19 benefits and obligations made under the Agreement (including its 20 rights to or as the holder of a 2.56% interest in any lease, licence, 21 easement, grant or other title granted to it pursuant thereto) to BHPAC, 22 Mitsubishi and to QRL which has been nominated by QCT Mining 23 and QCT Investments to take their shares of this percentage to be held 24 by them respectively as follows:-- 25 BHPAC 1.33525% 26 Mitsubishi 0.39597% 27 QRL 0.82878% 28 2.56000% 29

 


 

10 Central Queensland Coal Associates Agreement Variation SCHEDULE (continued) J. As a consequence of the transfers referred to in Recitals H and I the 1 Continuing Companies and QRL will hold all of the interests in the 2 operations carried on pursuant to the Agreement as follows:-- 3 BHPAC 38.37% 4 Mitsubishi 14.19% 5 AMP 8.61% 6 UCL 0.75% 7 BHPQ 8.50% 8 QCT Investment 12.00% 9 QCT Mining 15.78% 10 QRL 1.80% 11 K. Section 4(1) of the Principal Act, provides, inter alia, that the 12 Agreement may be varied pursuant to agreement between the Premier 13 of Queensland and the Companies (as defined in the Agreement being, 14 as at the date of this Agreement, between the Continuing Companies 15 and the Selling Companies) under the authority of any Act; 16 L. The making of this Agreement is authorised by the Parliament of the 17 State of Queensland expressed in the Act entitled the "Central 18 Queensland Coal Associates Agreement Variation Act 1996"; 19 M. In consideration of the foregoing recitals the parties hereto desire to 20 vary the Agreement in the manner hereinafter set forth. 21 NOW IT IS HEREBY AGREED as follows:-- 22 A. QCT Resources Limited ACN 010 808 705, a body corporate duly 23 constituted at law having its registered office at Level 10, 307 Queen 24 Street, Brisbane, shall be added as a party and then the term "the 25 Companies" wherever it appears in the Agreement shall be deemed to 26 refer to and include the Continuing Companies and QRL and shall 27 exclude the Selling Companies. 28

 


 

11 Central Queensland Coal Associates Agreement Variation SCHEDULE (continued) B. The Agreement shall be and is hereby varied by deleting Clauses 11 1 and 12 of Part IX and substituting the following in lieu thereof:-- 2 "11. Nothing in this Agreement contained or implied shall constitute a 3 partnership between the State and the Companies or any of them or between 4 the Companies. Any right or liability of the Companies under this 5 Agreement or any lease or licence granted pursuant to the provisions of this 6 Agreement is several and proportional to their respective interests being 7 thirty eight point three seven per centum (38.37%) as to BHP Australia 8 Coal Pty Ltd, fourteen point one nine per centum (14.19%) as to Mitsubishi 9 Development Pty Ltd, eight point six one per centum (8.61%) as to 10 Australian Mutual Provident Society, zero point seven five per centum 11 (0.75%) as to Umal Consolidated Pty Ltd, eight point five per centum 12 (8.50%) as to BHP Queensland Coal Limited, twelve per centum (12%) as 13 to QCT Investment Pty Ltd, fifteen point seven eight per centum (15.78%) 14 as to QCT Mining Pty Ltd and one point eight per centum (1.80%) as to 15 QCT Resources Limited. 16 12. The State shall grant any lease or licence pursuant to the provisions of 17 this Agreement to the Companies as tenants in common in the proportions 18 specified by the Companies in the application for any such lease or licence. 19 Provided that if any such lease or licence is granted without any application 20 therefor or if any such application does not specify the proportions then the 21 grant shall be made to the Companies in the proportions of thirty eight point 22 three seven per centum (38.37%) to BHP Australia Coal Pty Ltd, fourteen 23 point one nine per centum (14.19%) as to Mitsubishi Development Pty Ltd, 24 eight point six one per centum (8.61%) as to Australian Mutual Provident 25 Society, zero point seven five per centum (0.75%) as to Umal Consolidated 26 Pty Ltd, eight point five per centum (8.50%) as to BHP Queensland Coal 27 Limited, twelve per centum (12%) as to QCT Investment Pty Ltd, fifteen 28 point seven eight per centum (15.78%) as to QCT Mining Pty Ltd and one 29 point eight per centum (1.80%) as to QCT Resources Limited." 30

 


 

12 Central Queensland Coal Associates Agreement Variation SCHEDULE (continued) C. These presents are supplemental to the Agreement and subject only to 1 such modifications as may be necessary to make the Agreement 2 consistent with these presents the Agreement shall remain in full force 3 and effect and shall be read and construed and be enforceable as if the 4 terms of these presents were inserted in the Agreement by way of 5 addition thereto. 6 D. Upon the making of this Agreement the provisions thereof shall have 7 the force of law as though enacted in the Central Queensland Coal 8 Associates Agreement Variation Act 1996. 9 E. (1) This Agreement may be executed in two or more counterparts, one 10 by the Premier of Queensland, and one or more than one by each of 11 the Companies, together with such copies of the counterparts as the 12 parties may require. It shall become binding upon all parties hereto and 13 shall take immediate effect when, the Premier of Queensland having 14 executed a counterpart, the Premier of Queensland is notified in the 15 manner provided in paragraph (2) of this Clause that another 16 counterpart or counterparts thereof has or have been executed by the 17 Companies, notwithstanding that no exchange of counterparts has then 18 occurred. 19 (2) Notification pursuant to paragraph (1) hereof shall be made by 20 letter or by facsimile from BHPAC addressed to: 21 The Honourable the Premier of Queensland, 22 Premier's Department, 23 Executive Building, 24 100 George Street, 25 Brisbane, Queensland 4000 26 Facsimile No. 07 3221 1496 27 and shall be effective, where given by letter, on delivery to the 28 aforesaid address, or where given by facsimile, upon the date indicated 29 on the facsimile transmission report. 30 (3) Without prejudice to the full operation of the foregoing, the parties 31 agree that, as soon as practicable after this Agreement becomes 32 binding and takes effect, they will arrange for each of the counterparts 33

 


 

13 Central Queensland Coal Associates Agreement Variation SCHEDULE (continued) together with such copies of the counterparts as the parties may require 1 to be executed by all parties hereto. 2 F. Each of the Attorneys executing this Agreement hereby respectively 3 acknowledges that he has at the time of executing this Agreement no 4 notice of the revocation of the power of attorney under the authority of 5 which he executes this Agreement. 6 G. The parties to this Agreement agree that on and from the date when 7 this Agreement takes effect each of the Selling Companies will be 8 released and discharged from all those duties, obligations and liabilities 9 it has under the Agreement except to the extent of its interest 10 thereunder assigned by it to the Continuing Companies (other than 11 UCL, BHPQ, QCT Investment, QCT Mining and AMP) but not 12 otherwise. 13 IN WITNESS WHEREOF the parties hereto have executed this 14 Agreement the day and year first hereinbefore written. 15 Signed by 16 } Premier of the State of Queensland, 17 for and behalf of the said State in the 18 presence of Signed by 19 } a duly constituted Attorney of BHP 20 AUSTRALIA COAL PTY LTD in 21 the presence of Signed by 22 } a duly constituted Attorney of 23 MITSUBISHI DEVELOPMENT 24 PTY LTD in the presence of

 


 

14 Central Queensland Coal Associates Agreement Variation SCHEDULE (continued) Signed by 1 } a duly constituted Attorney of 2 AUSTRALIAN MUTUAL 3 PROVIDENT SOCIETY in the 4 presence of Signed by 5 } a duly constituted Attorney of UMAL 6 CONSOLIDATED PTY LTD in the 7 presence of Signed by 8 } a duly constituted Attorney of BHP 9 QUEENSLAND COAL LIMITED in 10 the presence of Signed by 11 } a duly constituted Attorney of QCT 12 RESOURCES LIMITED in the 13 presence of Signed by 14 } a duly constituted Attorney of QCT 15 INVESTMENT PTY LTD in the 16 presence of Signed by 17 } a duly constituted Attorney of QCT 18 MINING PTY LTD in the presence of Signed by 19 } a duly constituted Attorney of 20 PANCONTINENTAL COAL PTY 21 LIMITED in the presence of

 


 

15 Central Queensland Coal Associates Agreement Variation SCHEDULE (continued) Signed by 1 } a duly constituted Attorney of 2 BOWEN BASIN MINERALS 3 PROPRIETARY LIMITED in the 4 presence of 5 State of Queensland 1996

 


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