Queensland Bills Queensland Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
GOVERNMENT OWNED
CORPORATIONS AND
OTHER LEGISLATION
AMENDMENT BILL 1998
Queensland
GOVERNMENT OWNED
CORPORATIONS AND OTHER
LEGISLATION AMENDMENT BILL 1998
TABLE OF PROVISIONS
Section Page
PART 1--PRELIMINARY
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
PART 2--AMENDMENT OF GOVERNMENT OWNED
CORPORATIONS ACT 1993
3 Act amended in pt 2 and sch 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
4 Amendment of s 3 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
5 Amendment of s 5 (Meaning of "government entity") . . . . . . . . . . . . . . . . . 7
6 Amendment of s 19 (Meaning of "key principles of corporatisation") . . . . 7
7 Replacement of s 23 (Government entity must first become a
candidate GOC or a candidate GOC associate) . . . . . . . . . . . . . . . . . . . . . . 7
23 Government entity becoming a GOC . . . . . . . . . . . . . . . . . . . . . . . . . 7
8 Amendment of s 42 (Draft corporatisation charter to be given to
responsible Ministers) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
9 Insertion of new s 49B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
49B Corporatisation charter stops having effect when
candidate GOC becomes GOC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
10 Amendment of s 57 (Interim board of directors for entity to
become GOC or GOC subsidiary) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
11 Amendment of s 57A (Interim board of directors and chief
executive officer for candidate GOC associate or associate subsidiary) . . 8
12 Amendment of s 58 (Share capital and issue of shares) . . . . . . . . . . . . . . . 9
13 Replacement of ch 2, pt 5A (First chief executive officers and
senior executives of statutory GOCs) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
2
Government Owned Corporations and Other
Legislation Amendment
PART 5A--FIRST CHIEF EXECUTIVE OFFICERS AND
SENIOR EXECUTIVES OF GOCS
62A Definition for pt 5A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
62B Application of provisions of pt 5A . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
62C Appointment of statutory GOC's first chief executive officer . . . . . 9
62D Appointment of statutory GOC's first senior executives . . . . . . . . . . 10
62E Appointment of company GOC's first chief executive officer . . . . . 10
62F Appointment of company GOC's first senior executives . . . . . . . . . 10
14 Amendment of s 63A (Declaration of candidate GOC associate
as GOC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
15 Amendment of s 64 (Declaration does not affect legal personality etc.) . . 11
16 Amendment of s 93 (Delegation by board) . . . . . . . . . . . . . . . . . . . . . . . . . . 11
17 Amendment of s 96 (Composition of board) . . . . . . . . . . . . . . . . . . . . . . . . . 12
18 Insertion of new ss 96A and 96B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
96A Public service officers not eligible for appointment as directors . . . 12
96B First board of company GOC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
19 Amendment of s 100 (Delegation by chief executive officer) . . . . . . . . . . . 13
20 Amendment of s 114 (Matters to be included in statement of
corporate intent) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
21 Amendment of s 115 (Additional matters to be included in
statement of corporate intent) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
22 Omission of s 129 (Application of Public Accounts Committee Act) . . . . 14
23 Amendment of s 130 (Quarterly reports) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
24 Amendment of s 159 (Payment of dividends) . . . . . . . . . . . . . . . . . . . . . . . . 14
25 Insertion of new ch 3, pt 15A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
PART 15A--GOCs AND GOC SUBSIDIARIES BECOMING
AND RETIRING AS TRUSTEES
163A GOCs and subsidiaries becoming trustees . . . . . . . . . . . . . . . . . . . . . 15
163B GOCs and subsidiaries retiring as trustees . . . . . . . . . . . . . . . . . . . . . 15
163C Part applies despite Corporations Law . . . . . . . . . . . . . . . . . . . . . . . . 15
26 Omission of s 176 (Application of Electoral and Administrative
Review Act) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
27 Amendment of s 182 (Application of Parliamentary
Commissioner Act 1974) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
3
Government Owned Corporations and Other
Legislation Amendment
28 Amendment of sch 1, pt 3, s 11 (Appointment of directors) . . . . . . . . . . . . 16
PART 3--AMENDMENT OF LOCAL GOVERNMENT ACT 1993
29 Act amended in pt 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
30 Amendment of s 458DM (Application of existing laws) . . . . . . . . . . . . . . . 17
31 Omission of s 458DO (How Corporations Law is to be applied to
corporatised corporations) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
32 Amendment of s 458FH (Application of certain provisions about
directors and executives to significant business entities) . . . . . . . . . . . . . . 17
33 Replacement of s 458GE (Application of Corporations Law to
corporatised corporations) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
458GE Corporations Law does not apply to
corporatised corporations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
34 Amendment of s 458GP (Delegation by board) . . . . . . . . . . . . . . . . . . . . . . 18
35 Amendment of s 458GW (Delegation by chief executive officer) . . . . . . . 18
36 Amendment of s 458IE (Application of Financial Administration
and Audit Act) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
PART 4--AMENDMENT OF TRANSPORT INFRASTRUCTURE
ACT 1994
37 Act amended in pt 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
38 Omission of ch 6, pt 2 (Rail transport infrastructure) . . . . . . . . . . . . . . . . . . 19
39 Insertion of new ch 8A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
CHAPTER 8A--FUNCTION OF QUEENSLAND RAIL
187A Function . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
PART 5--MINOR AMENDMENTS OF OTHER LEGISLATION
40 Amended Acts--sch 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
SCHEDULE 1 . . . . . . . . . . . . . . . . . . . . . . . . 21
AMENDMENTS OF GOVERNMENT OWNED CORPORATIONS
ACT 1993 RELATING TO PROVISIONS THAT ALLOW FOR
MODIFICATION OF CERTAIN PROVISIONS OF ACT AND
OTHER LEGISLATION
SCHEDULE 2 . . . . . . . . . . . . . . . . . . . . . . . . 85
MINOR AMENDMENTS
GOVERNMENT LOANS REDEMPTION AND CONVERSION
ACT 1923 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85
QUEENSLAND TREASURY CORPORATION ACT 1988 . . . . . . . . . . . . . 85
1998
A BILL
FOR
An Act to amend the Government Owned Corporations Act 1993 and
certain other legislation
s1 6 s4
Government Owned Corporations and Other
Legislation Amendment
The Parliament of Queensland enacts-- 1
PART 1--PRELIMINARY 2
title 3
Short
Clause 1. This Act may be cited as the Government Owned Corporations and 4
Other Legislation Amendment Act 1998. 5
6
Commencement
Clause 2. This Act commences on a day to be fixed by proclamation. 7
PART 2--AMENDMENT OF GOVERNMENT OWNED 8
CORPORATIONS ACT 1993 9
amended in pt 2 and sch 1 10
Act
Clause 3. This part and schedule 1 amend the Government Owned Corporations 11
Act 1993. 12
of s 3 (Definitions) 13
Amendment
Clause 4. Section 3-- 14
insert-- 15
` "senior executive", of a GOC, includes the holder of an office in the 16
GOC that reports directly to the GOC's chief executive officer and that 17
is commensurate with an office held by a senior executive under the 18
Public Service Act 1996.'. 19
s5 7 s8
Government Owned Corporations and Other
Legislation Amendment
of s 5 (Meaning of "government entity") 1
Amendment
Clause 5. Section 5(e)-- 2
omit, insert-- 3
`(e) a statutory GOC or part of a statutory GOC; or 4
(f) an entity prescribed by regulation.'. 5
of s 19 (Meaning of "key principles of corporatisation") 6
Amendment
Clause 6. Section 19(d), second dot point, `the private sector'-- 7
omit, insert-- 8
`other entities carrying on business'. 9
of s 23 (Government entity must first become a 10
Replacement
candidate GOC or a candidate GOC associate) 11
Clause 7. Section 23-- 12
omit, insert-- 13
entity becoming a GOC 14
`Government
`23.(1) Before becoming a GOC, a government entity must become a 15
candidate GOC or a candidate GOC associate. 16
`(2) To remove doubt, it is declared that before becoming a company 17
GOC-- 18
(a) a statutory GOC must become, or again become, a candidate 19
GOC; and 20
(b) a part of a statutory GOC must become a candidate GOC.'. 21
of s 42 (Draft corporatisation charter to be given to 22
Amendment
responsible Ministers) 23
Clause 8. Section 42-- 24
insert-- 25
`(3) The committee must comply with the request.'. 26
s9 8 s 11
Government Owned Corporations and Other
Legislation Amendment
of new s 49B 1
Insertion
Clause 9. Chapter 2, part 4, after section 49A-- 2
insert-- 3
charter stops having effect when candidate GOC 4
`Corporatisation
becomes GOC 5
`49B. The corporatisation charter of a candidate GOC stops having effect 6
when the candidate, or an associate of the candidate, becomes a GOC.'. 7
of s 57 (Interim board of directors for entity to become 8
Amendment
GOC or GOC subsidiary) 9
Clause 10. Section 57-- 10
insert-- 11
`(4) The directors on the interim board go out of office-- 12
(a) if the entity is a government entity that is to become a 13
GOC--when the entity becomes a GOC; or 14
(b) if the entity is a government entity that is to become a GOC 15
subsidiary--when the entity of which it is a subsidiary or 16
proposed subsidiary becomes a GOC. 17
`(5) Subsection (4) does not limit subsection (3).'. 18
of s 57A (Interim board of directors and chief executive 19
Amendment
officer for candidate GOC associate or associate subsidiary) 20
Clause 11. Section 57A-- 21
insert-- 22
`(2) The directors on the interim board go out of office-- 23
(a) for a candidate GOC associate--when the associate becomes a 24
GOC; or 25
(b) for an associate subsidiary--when the candidate GOC associate 26
of which it is a subsidiary becomes a GOC.'. 27
s 12 9 s 13
Government Owned Corporations and Other
Legislation Amendment
of s 58 (Share capital and issue of shares) 1
Amendment
Clause 12. Section 58(7), `shareholding'-- 2
omit, insert-- 3
`responsible'. 4
of ch 2, pt 5A (First chief executive officers and senior 5
Replacement
executives of statutory GOCs) 6
Clause 13. Chapter 2, part 5A-- 7
omit, insert-- 8
ART 5A--FIRST CHIEF EXECUTIVE OFFICERS 9
`P
AND SENIOR EXECUTIVES OF GOCS 10
for pt 5A 11
`Definition
`62A. In this part-- 12
"board of directors", of a candidate GOC, includes an interim board of 13
directors of the candidate GOC. 14
of provisions of pt 5A 15
`Application
`62B. Section 62C, 62D, 62E or 62F applies if the responsible Ministers 16
of a candidate GOC that is to become a statutory GOC or company GOC 17
authorise the candidate GOC's board of directors to act for the section. 18
of statutory GOC's first chief executive officer 19
`Appointment
`62C.(1) For the appointment of the first chief executive officer of the 20
statutory GOC, the Governor in Council may act under schedule 2, 21
section 1 before the commencement of a regulation declaring the candidate 22
GOC to be a GOC. 23
`(2) For acting under the section, a reference in the section to the GOC's 24
board is taken to be a reference to the candidate GOC's board of directors. 25
s 14 10 s 14
Government Owned Corporations and Other
Legislation Amendment
of statutory GOC's first senior executives 1
`Appointment
`62D.(1) For the appointment of the first senior executives of the 2
statutory GOC, the Governor in Council may act under section 168 before 3
the commencement of a regulation declaring the candidate GOC to be a 4
GOC. 5
`(2) For acting under the section, a reference in the section to the GOC's 6
board is taken to be a reference to the candidate GOC's board of directors. 7
of company GOC's first chief executive officer 8
`Appointment
`62E.(1) For the appointment of the first chief executive officer of the 9
company GOC, the Governor in Council may act under section 102 before 10
the commencement of a regulation declaring the candidate GOC to be a 11
GOC. 12
`(2) For acting under the section, a reference in the section to the GOC's 13
board is taken to be a reference to the candidate GOC's board of directors. 14
`(3) This section and section 62B have effect despite the Corporations 15
Law. 16
of company GOC's first senior executives 17
`Appointment
`62F.(1) For the appointment of the first senior executives of the 18
company GOC, the Governor in Council may act under section 168 before 19
the commencement of a regulation declaring the candidate GOC to be a 20
GOC. 21
`(2) For acting under the section, a reference in the section to the GOC's 22
board is taken to be a reference to the candidate GOC's board of directors. 23
`(3) This section and section 62B have effect despite the Corporations 24
Law.'. 25
of s 63A (Declaration of candidate GOC associate as 26
Amendment
GOC) 27
Clause 14. Section 63A(2)(b)-- 28
omit, insert-- 29
s 15 11 s 16
Government Owned Corporations and Other
Legislation Amendment
`(b) the associate complies with, or on becoming a GOC will comply 1
with, section 65 or 66.'. 2
of s 64 (Declaration does not affect legal personality etc.) 3
Amendment
Clause 15. Section 64-- 4
insert-- 5
`(2) Also, the declaration of an entity as a GOC-- 6
(a) does not place the entity or the State in breach of contract or 7
confidence or otherwise make the entity or the State guilty of a 8
civil wrong; and 9
(b) does not make the entity or the State in breach of any instrument, 10
including an instrument prohibiting, restricting or regulating the 11
assignment or transfer of any right or liability or the disclosure of 12
any information; and 13
(c) is not taken to fulfil a condition-- 14
(i) that allows a person to terminate an instrument or obligation 15
or modify the operation or effect of an instrument or 16
obligation; or 17
(ii) that requires any money to be paid before its stated maturity; 18
and 19
(d) does not release a surety or other obligee (in whole or part) from 20
an obligation.'. 21
of s 93 (Delegation by board) 22
Amendment
Clause 16.(1) Section 93(d)-- 23
omit, insert-- 24
`(d) an appropriately qualified employee of the GOC.'. 25
(2) Section 93-- 26
insert-- 27
`(2) In this section-- 28
s 17 12 s 18
Government Owned Corporations and Other
Legislation Amendment
"appropriately qualified" includes having qualifications, experience or 1
standing appropriate to exercise the power. 2
3
Example of `standing'--
4
An employee's classification level in the GOC.'.
of s 96 (Composition of board) 5
Amendment
Clause 17. Section 96(2), `the implementation of its statement of corporate 6
intent'-- 7
omit, insert-- 8
`, if the GOC has a statement of corporate intent, the implementation of 9
the statement'. 10
of new ss 96A and 96B 11
Insertion
Clause 18. Chapter 3, part 5, after section 96-- 12
insert-- 13
service officers not eligible for appointment as directors 14
`Public
`96A.(1) A public service officer is not eligible for appointment as a 15
director of a company GOC. 16
`(2) Subsection (1) has effect despite the Corporations Law. 17
irst board of company GOC 18
`F
`96B.(1) This section applies to a government entity that is to become a 19
company GOC if the government entity is a candidate GOC or a candidate 20
GOC associate. 21
`(2) For the appointment of the first board of the company GOC, the 22
Governor in Council may act under section 96 before the commencement 23
of a regulation declaring the candidate GOC, or the candidate GOC 24
associate, to be a GOC. 25
`(3) The appointment takes effect when the regulation commences. 26
`(4) This section has effect despite-- 27
s 19 13 s 21
Government Owned Corporations and Other
Legislation Amendment
(a) the company GOC's memorandum and articles; and 1
(b) the Corporations Law.'. 2
of s 100 (Delegation by chief executive officer) 3
Amendment
Clause 19.(1) Section 100(1), `employee'-- 4
omit, insert-- 5
`appropriately qualified employee'. 6
(2) Section 100-- 7
insert-- 8
`(3) In this section-- 9
"appropriately qualified" includes having qualifications, experience or 10
standing appropriate to exercise the power. 11
12
Example of `standing'--
13
An employee's classification level in the GOC.'.
of s 114 (Matters to be included in statement of 14
Amendment
corporate intent) 15
Clause 20. Section 114(2)-- 16
omit, insert-- 17
`(2) The statement of corporate intent must also include the matters 18
required by sections 122 and 171.1'. 19
of s 115 (Additional matters to be included in statement 20
Amendment
of corporate intent) 21
Clause 21.(1) Section 115, heading, `to'-- 22
omit, insert-- 23
1 Sections 122 (Community service obligations to be specified in statement of
corporate intent) and 171 (Employment and industrial relations plan)
s 22 14 s 24
Government Owned Corporations and Other
Legislation Amendment
`may'. 1
(2) Section 115(1), `must'-- 2
omit, insert-- 3
`may'. 4
(3) Section 115(2)-- 5
omit. 6
(4) Section 115(3)-- 7
renumber as section 115(2). 8
of s 129 (Application of Public Accounts Committee Act) 9
Omission
Clause 22. Section 129-- 10
omit. 11
of s 130 (Quarterly reports) 12
Amendment
Clause 23. Section 130(1), `first 3'-- 13
omit. 14
of s 159 (Payment of dividends) 15
Amendment
Clause 24.(1) Section 159(1), from `Within' to `a GOC's'-- 16
omit, insert-- 17
`A GOC's'. 18
(2) Section 159-- 19
insert-- 20
`(1A) The board must comply with subsection (1) within-- 21
(a) 1 month after the end of each financial year; or 22
(b) for a particular financial year, if the shareholding Ministers have 23
extended the period to a period not longer than 3 months after the 24
end of the financial year, the extended period.'. 25
s 25 15 s 26
Government Owned Corporations and Other
Legislation Amendment
of new ch 3, pt 15A 1
Insertion
Clause 25. After section 163-- 2
insert-- 3
`PART 15A--GOCs AND GOC SUBSIDIARIES 4
BECOMING AND RETIRING AS TRUSTEES 5
and subsidiaries becoming trustees 6
`GOCs
`163A.(1) A GOC may accept appointment as a trustee of a trust only 7
with the prior written approval of the GOC's shareholding Ministers. 8
`(2) A GOC subsidiary may accept appointment as a trustee of a trust 9
only with the prior written approval of the shareholding Ministers of the 10
GOC of which it is a subsidiary. 11
and subsidiaries retiring as trustees 12
`GOCs
`163B.(1) This section applies if a GOC or a GOC subsidiary is the 13
trustee of a trust. 14
`(2) The GOC may retire from its trusteeship only with the prior written 15
approval of the GOC's shareholding Ministers. 16
`(3) The GOC subsidiary may retire from its trusteeship only with the 17
prior written approval of the shareholding Ministers of the GOC of which it 18
is a subsidiary. 19
applies despite Corporations Law 20
`Part
163C. This part applies despite the Corporations Law.'. 21
of s 176 (Application of Electoral and Administrative 22
Omission
Review Act) 23
Clause 26. Section 176-- 24
omit. 25
s 27 16 s 28
Government Owned Corporations and Other
Legislation Amendment
of s 182 (Application of Parliamentary Commissioner 1
Amendment
Act 1974) 2
Clause 27. Section 182(2)-- 3
omit, insert-- 4
`(2) In this section-- 5
"commercially competitive activities" means activities carried on, on a 6
commercial basis, in competition with a person, other than-- 7
(a) the Commonwealth or a State; or 8
(b) a State authority; or 9
(c) a local government.'. 10
of sch 1, pt 3, s 11 (Appointment of directors) 11
Amendment
Clause 28.(1) Schedule 1, section 11(2), `'implementation of its statement of 12
corporate intent'-- 13
omit, insert-- 14
`, if the GOC has a statement of corporate intent, the implementation of 15
the statement'. 16
(2) Schedule 1, section 11(3)-- 17
omit, insert-- 18
`(3) A person is not eligible for appointment if the person-- 19
(a) is a public service officer; or 20
(b) is not able to manage a corporation because of the Corporations 21
Law, section 229.2'. 22
2 Corporations Law, section 229 (Certain persons not to manage corporations)
s 29 17 s 32
Government Owned Corporations and Other
Legislation Amendment
PART 3--AMENDMENT OF LOCAL GOVERNMENT 1
ACT 1993 2
amended in pt 3 3
Act
Clause 29. This part amends the Local Government Act 1993. 4
of s 458DM (Application of existing laws) 5
Amendment
Clause 30. Section 458DM(3) and (4)-- 6
omit. 7
of s 458DO (How Corporations Law is to be applied to 8
Omission
corporatised corporations) 9
Clause 31. Section 458DO-- 10
omit. 11
of s 458FH (Application of certain provisions about 12
Amendment
directors and executives to significant business entities) 13
Clause 32.(1) Section 458FH(2) to (4), `and any changes prescribed by 14
regulation'-- 15
omit. 16
(2) Section 458FH(5), `, and any changes prescribed by regulation'-- 17
omit. 18
(3) Section 458FH(7)-- 19
omit. 20
s 33 18 s 35
Government Owned Corporations and Other
Legislation Amendment
of s 458GE (Application of Corporations Law to 1
Replacement
corporatised corporations) 2
Clause 33. Section 458GE-- 3
omit, insert-- 4
Law does not apply to corporatised corporations 5
`Corporations
`458GE. The Corporations Law does not apply to a corporatised 6
corporation.'. 7
of s 458GP (Delegation by board) 8
Amendment
Clause 34.(1) Section 458GP(d)-- 9
omit, insert-- 10
`(d) an appropriately qualified employee of the corporation.'. 11
(2) Section 458GP-- 12
insert-- 13
`(2) In this section-- 14
"appropriately qualified" includes having qualifications, experience or 15
standing appropriate to exercise the power. 16
17
Example of `standing'--
18
An employee's classification level in the corporatised corporation.'.
of s 458GW (Delegation by chief executive officer) 19
Amendment
Clause 35.(1) Section 458GW(1), `employee'-- 20
omit, insert-- 21
`appropriately qualified employee'. 22
(2) Section 458GW-- 23
insert-- 24
`(3) In this section-- 25
"appropriately qualified" includes having qualifications, experience or 26
s 36 19 s 39
Government Owned Corporations and Other
Legislation Amendment
standing appropriate to exercise the power. 1
2
Example of `standing'--
3
An employee's classification level in the corporatised corporation.'.
of s 458IE (Application of Financial Administration and 4
Amendment
Audit Act) 5
Clause 36.(1) Section 458IE(1), `changes prescribed by regulation'-- 6
omit, insert-- 7
`necessary changes'. 8
(2) Section 458IE(2)-- 9
omit. 10
(3) Section 458IE(3) and (4)-- 11
renumber as section 458IE(2) and (3). 12
ART 4--AMENDMENT OF TRANSPORT 13
P
INFRASTRUCTURE ACT 1994 14
amended in pt 4 15
Act
Clause 37. This part amends the Transport Infrastructure Act 1994. 16
of ch 6, pt 2 (Rail transport infrastructure) 17
Omission
Clause 38. Chapter 6, part 2-- 18
omit. 19
of new ch 8A 20
Insertion
Clause 39. After section 187-- 21
s 40 20 s 40
Government Owned Corporations and Other
Legislation Amendment
insert-- 1
HAPTER 8A--FUNCTION OF QUEENSLAND 2
`C
RAIL 3
unction 4
`F
`187A.(1) The function of Queensland Rail is to provide comprehensive 5
transport services and services ancillary to those services, whether in or 6
outside Queensland or Australia. 7
`(2) Without limiting subsection (1), the function includes-- 8
(a) the provision of passenger and freight transport services; and 9
(b) the provision of consultancy and training services relating to 10
transport services; and 11
(c) establishing, maintaining and arranging for the provision of 12
transport infrastructure; and 13
(d) doing anything likely to complement or enhance the function or 14
something mentioned in paragraphs (a) to (c). 15
`(3) Queensland Rail is taken to have had the function from when it 16
became a government owned corporation.'. 17
PART 5--MINOR AMENDMENTS OF OTHER 18
LEGISLATION 19
Acts--sch 2 20
Amended
Clause 40. Schedule 2 amends the Acts mentioned in it. 21
22
21
Government Owned Corporations and Other
Legislation Amendment
CHEDULE 1 1
¡S
AMENDMENTS OF GOVERNMENT OWNED 2
CORPORATIONS ACT 1993 RELATING TO 3
PROVISIONS THAT ALLOW FOR MODIFICATION 4
OF CERTAIN PROVISIONS OF ACT AND OTHER 5
LEGISLATION 6
section 3 7
1. Section 7(6), from `applies' to `regulation'-- 8
omit, insert-- 9
`does not apply'. 10
2. Sections 12(3) and (4)-- 11
omit. 12
3. Section 12(5)-- 13
renumber as section 12(3). 14
4. Section 13(3) and (4)-- 15
omit. 16
5. Section 13(5)-- 17
renumber as section 13(3). 18
6. Section 14-- 19
omit. 20
22
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
7. Section 26(3), `and any modifications prescribed by regulation'-- 1
omit. 2
8. Section 52-- 3
omit. 4
9. Section 53(4), from `under--' 5
omit, insert-- 6
`under section 51, even though the government entity concerned is part 7
of a corporation.'. 8
10. Section 57(3), `and any modifications prescribed by regulation'-- 9
omit. 10
11. Section 57B(1) to (4), `and any changes prescribed by 11
regulation'-- 12
omit. 13
12. Section 57B(5), `, and any changes prescribed by regulation'-- 14
omit. 15
13. Section 67-- 16
omit, insert-- 17
`Corporations Law does not apply to statutory GOCs 18
`67. The Corporations Law does not apply to a statutory GOC.'. 19
23
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
14. Section 127(1), `modifications that are prescribed by regulation'-- 1
omit, insert-- 2
`necessary changes'. 3
15. Section 128(1), from `by regulation apply'-- 4
omit, insert-- 5
`by schedule 3 apply to a company GOC, or a company GOC subsidiary 6
prescribed under a regulation, with the changes prescribed by the schedule.'. 7
16. Section 128(2)-- 8
omit, insert-- 9
`(2) The Act applies to a company GOC or company GOC subsidiary as 10
if-- 11
(a) it were a statutory body within the meaning of the Act; and 12
(b) a reference in the Act to the appropriate Minister were a 13
reference-- 14
(i) for a company GOC--to the GOC's shareholding 15
Ministers; or 16
(ii) for a company GOC subsidiary--to the shareholding 17
Ministers of each GOC that is a shareholder of the 18
subsidiary.'. 19
17. Section 128(3), `regulation'-- 20
omit, insert-- 21
`schedule 3'. 22
24
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
18. Section 154(3)-- 1
omit. 2
19. Section 177-- 3
omit, insert-- 4
`Application of chapter to certain company GOC subsidiaries 5
`177.(1) This section applies to a company GOC subsidiary prescribed 6
under a regulation. 7
`(2) The provisions of this chapter prescribed by schedule 4 apply to the 8
company GOC subsidiary with the changes prescribed by the schedule as if 9
it were a GOC.'. 10
20. Section 192(1), after `a government entity'-- 11
insert-- 12
`established under this Act' 13
21. Section 192(4)-- 14
omit. 15
22. Section 192(5)-- 16
renumber as section 192(4). 17
25
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
23. After schedule 2-- 1
insert-- 2
`SCHEDULE 3 3
`APPLICATION OF FA AND A ACT TO COMPANY 4
GOCs AND PRESCRIBED COMPANY GOC 5
SUBSIDIARIES 6
section 128 7
`PART 1--PRELIMINARY 8
`Purpose 9
`1. The purpose of this schedule is to apply certain provisions of the FA 10
and A Act to company GOCs, and to company GOC subsidiaries 11
prescribed under a regulation under section 128 of the Act.3 12
`Definition 13
`2. In this schedule-- 14
"FA and A Act" means the Financial Administration and Audit Act 1977. 15
3 Section 128 (Application of Financial Administration and Audit Act)
26
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`PART 2--APPLICATION OF CERTAIN 1
PROVISIONS OF FA AND A ACT TO COMPANY 2
GOCs 3
`Definitions for pts 2 and 4 4
`3. In this part and part 4-- 5
"applied provisions" mean the provisions of the FA and A Act as 6
applying under this part. 7
"authorised auditor" means-- 8
(a) the auditor-general or deputy auditor-general; or 9
(b) a member of the staff of the Queensland Audit Office; or 10
(c) a contract auditor. 11
"chairperson", of a company GOC, means the chairperson of the GOC's 12
board of directors. 13
"contract auditor" means a person appointed as a contract auditor under 14
section 82 of the applied provisions. 15
`Application of FA and A Act--Act, s 128 16
`4.(1) The provisions of the FA and A Act set out in part 4 are applied to 17
each company GOC. 18
`(2) Subject to subsection (3), the provisions are applied as in force 19
immediately before the commencement of this section. 20
`(3) As applying, some provisions are changed to read as set out in 21
part 4.4 22
`(4) For the applied provisions, definitions and other interpretative 23
provisions of the FA and A Act as in force immediately before the 24
4 Changes are shown in italics. Division headings are also shown in italics.
27
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
commencement of this section apply. 1
`(5) Subsection (4) is subject to section 3. 2
`PART 3--APPLICATION OF CERTAIN 3
PROVISIONS OF FA AND A ACT TO COMPANY 4
GOC SUBSIDIARIES 5
`Definitions for pts 3 and 5 6
`5. In this part and part 5-- 7
"applied provisions" mean the provisions of the FA and A Act as 8
applying under section 6. 9
"authorised auditor" means-- 10
(a) the auditor-general or deputy auditor-general; or 11
(b) a member of the staff of the Queensland Audit Office; or 12
(c) a contract auditor. 13
"chairperson", of a company GOC subsidiary, means the chairperson of 14
the subsidiary's board of directors. 15
"company GOC subsidiary" means a company GOC subsidiary 16
prescribed under a regulation under section 128 of the Act. 17
"contract auditor" means a person appointed as a contract auditor under 18
section 82 of the applied provisions. 19
"shareholding GOC", of a company GOC subsidiary, means a GOC that 20
is a shareholder of the subsidiary. 21
`Application of FA and A Act--Act, s 128 22
`6.(1) The provisions of the FA and A Act set out in part 5 are applied to 23
each company GOC subsidiary. 24
28
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`(2) Subject to subsection (3), the provisions are applied as in force 1
immediately before the commencement of this section. 2
`(3) As applying, some provisions are changed to read as set out in 3
part 5.5 4
`(4) For the applied provisions, definitions and other interpretative 5
provisions of the FA and A Act as in force immediately before the 6
commencement of this section apply. 7
`(5) Subsection (4) is subject to section 5. 8
`PART 4--PROVISIONS OF FA AND A ACT 9
APPLYING UNDER SECTION 4 TO COMPANY 10
GOCS 11
`PART 3--FINANCIAL 12
ADMINISTRATION--COMPANY GOCS 13
`46C. Not applied. 14
`Company GOCs to prepare annual financial statements 15
`46F.(1) A company GOC must give to the auditor-general the financial 16
statements prepared by it under the Corporations Law. 17
`(2) The company GOC must comply with subsection (1) 18
within 2 months after the end of each financial year or the longer period 19
5 Changes are shown in italics. Division headings are also shown in italics.
29
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
agreed to between the GOC and the auditor-general. 1
`(3) to (9) Not applied. 2
`46G. Not applied. 3
`Company GOCs must consider auditor-general's observations and 4
suggestions 5
`46H. If a chairperson of a company GOC is given observations or 6
suggestions (together with any comments on them) under section 93(4), the 7
chairperson must ensure they are considered at the GOC's next ordinary 8
meeting. 9
`Annual report 10
`46J.(1) As soon as possible after the close of each financial year but, 11
subject to subsection (2), in no case later than 4 months after that close a 12
company GOC shall prepare and furnish to its shareholding Ministers a 13
report in writing on the operations of the GOC during that financial year. 14
`(2) The shareholding Ministers may, in a particular case, extend or 15
further extend the period of 4 months referred to in subsection (1) by 16
written notice given to the company GOC. 17
`(2A) If the shareholding Ministers extend the period referred to in 18
subsection (1) to a period of more than 6 months, the Ministers must, 19
within 14 days of granting that extension, give to the Legislative Assembly 20
an explanation for the granting of that extension. 21
`(3) The report-- 22
(a) shall contain such information as the shareholding Ministers 23
direct to enable the Ministers to assess the efficiency, 24
effectiveness and economy of the company GOC and the need for 25
its continuance; and 26
(b) shall contain a copy of the annual financial statements of the 27
company GOC relating to that financial year prepared under the 28
30
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
Corporations Law; and 1
(c) shall contain the information required, under the Government 2
Owned Corporations Act 1993, to be included in the annual 3
report of a GOC. 4
`(4) Subsection (3) is subject to the Government Owned Corporations 5
Act 1993, section 132.6 6
`PART 3A--TABLING OF ANNUAL REPORTS 7
`Shareholding Ministers must table reports 8
`46K. Within 14 days after receiving the annual report of a company 9
GOC, the GOC's shareholding Ministers must table a copy of it in the 10
Legislative Assembly. 11
`46KA. Not applied. 12
`Shareholding Ministers to explain late tabling of annual report 13
`46KB.(1) This section applies if the shareholding Ministers table, in the 14
Legislative Assembly-- 15
(a) the annual report of a company GOC later than 4 months and 16
14 days after the end of a financial year; or 17
(b) Not applied. 18
`(2) The shareholding Ministers must also give the Legislative 19
Assembly a written statement-- 20
(a) stating the report is being tabled late; and 21
6 Section 132 (Deletion of commercially sensitive matters from annual report etc.)
31
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(b) stating the length of the delay; and 1
(c) explaining the reasons for the delay. 2
`Procedure if Legislative Assembly not in session or sitting 3
`46KC.(1) This section applies if the Legislative Assembly is not in 4
session or is not actually sitting when the shareholding Ministers are 5
required to do any of the following things-- 6
(a) table a copy of an annual report in the Legislative Assembly; 7
(b) give the Legislative Assembly a written statement about the late 8
tabling of an annual report; 9
(c) if the shareholding Ministers have given a company GOC an 10
extension of time for giving the Ministers a copy of its annual 11
report--give the Legislative Assembly an explanation for giving 12
the extension. 13
`(2) The shareholding Ministers must give a copy of the report, the 14
written statement or the explanation to the clerk of the Parliament. 15
`(3) The clerk must table the report, statement or explanation before the 16
Legislative Assembly on its next sitting day. 17
`(4) The report, statement or explanation is taken to have been tabled in 18
the Legislative Assembly on the day it is given to the clerk. 19
`(5) The day of receipt of the report, statement or explanation must be 20
recorded in the votes and proceedings on the next sitting day. 21
`(6) If the Legislative Assembly orders the report, statement or 22
explanation to be printed, the report, statement or explanation is taken to 23
have been ordered to be printed by the Legislative Assembly on the day the 24
clerk receives it. 25
32
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`PART 6--AUDIT OF COMPANY GOCs 1
`Division 1--Scope of auditor-general's mandate 2
`73. Not applied. 3
`74. Not applied. 4
`Shareholding Ministers to give auditor-general information relating to 5
company GOCs 6
`75.(1) If a company GOC acts under the Government Owned 7
Corporations Act 1993, section 163,7 its shareholding Ministers must give 8
the auditor-general any information about the matter that the auditor-general 9
requires. 10
`(2) Not applied. 11
`Auditor-general to be appointed auditor of every company GOC 12
`76.(1) The shareholding Ministers of a company GOC must-- 13
(a) appoint the auditor-general to be the auditor of the GOC; and 14
(b) ensure that the auditor-general remains, at all times, the auditor of 15
the GOC while the GOC remains a company GOC. 16
`(2) Not applied. 17
`Audits at request of Parliament 18
`77.(1) If the Legislative Assembly, by resolution, requests the 19
auditor-general to conduct an audit of a matter relating to the financial 20
7 Section 163 (Acquiring and disposing of subsidiaries)
33
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
administration of a company GOC, the auditor-general must conduct the 1
audit. 2
`(2) Not applied. 3
`78. Not applied. 4
`Division 2--Conduct of audits 5
`Way in which audit is to be conducted 6
`79.(1) The auditor-general may conduct an audit in the way the 7
auditor-general considers appropriate. 8
`(2) In determining the appropriate way to conduct an audit, the 9
auditor-general may have regard to-- 10
(a) the character of the relevant internal control system (including 11
internal audit); and 12
(b) recognised standards and practices. 13
`(3) Subsection (2) does not limit the matters to which the auditor- 14
general may have regard. 15
`(4) The auditor-general is not limited to conducting the audit in 16
accordance with the Corporations Law, and may do anything else that the 17
auditor-general considers appropriate. 18
`Audit of performance management systems 19
`80.(1) The auditor-general may conduct an audit of performance 20
management systems of a company GOC. 21
`(2) The audit may be conducted as a separate audit or as part of another 22
audit (including an audit of another company GOC under this section). 23
`(3) The object of the audit includes determining whether the 24
performance management systems enable the company GOC to assess 25
34
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
whether its objectives are being achieved economically, efficiently and 1
effectively. 2
`(4) Not applied. 3
`81. Not applied. 4
`Appointment of contract auditors 5
`82.(1) For auditing company GOCs the auditor-general may appoint an 6
appropriately qualified individual who is not a member of the staff of the 7
Audit Office to be a contract auditor. 8
`(2) The appointment of a person to be a contract auditor may be general 9
or limited to a particular audit. 10
`(3) The contract auditor-- 11
(a) is appointed on the terms specified in the instrument of 12
appointment; and 13
(b) may resign the appointment by signed notice given to the 14
auditor-general. 15
`Identity cards for contract auditors 16
`83.(1) The auditor-general may issue an identity card to a contract 17
auditor. 18
`(2) The identity card must-- 19
(a) contain a recent photograph of the contract auditor; and 20
(b) be signed by the contract auditor and the auditor-general. 21
`(3) A person who ceases to be a contract auditor must not, without 22
reasonable excuse, fail to return the person's identity card to the 23
auditor-general as soon as practicable after ceasing to be a contract auditor. 24
Maximum penalty for subsection (3)--10 penalty units. 25
35
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Proof of authority as authorised auditor 1
`84.(1) An authorised auditor may exercise a power under the applied 2
provisions in relation to a person only if the authorised auditor produces his 3
or her identity card for inspection by the person. 4
`(2) In this section-- 5
"identity card" means---- 6
(a) for a contract auditor, the identity card issued to the auditor 7
under section 83; or 8
(b) for another authorised auditor, the identity card issued to the 9
auditor under section 838 of the F A and A Act. 10
`Access to documents and property 11
`85.(1) Not applied. 12
`(2) For the purpose of conducting an audit of a company GOC under 13
the applied provisions, an authorised auditor is entitled, at all reasonable 14
times, to full and free access to all documents and property belonging to, in 15
the custody of, or under the control of, the GOC. 16
`(3) For the purpose of conducting an audit under the applied provisions, 17
an authorised auditor may-- 18
(a) enter, at any reasonable time-- 19
(i) a place occupied by a company GOC; or 20
(ii) a place occupied by a financial institution with which a 21
company GOC maintains an account; or 22
(iii) another place if the occupier of the place consents to the 23
entry; and 24
(b) inspect, examine, photograph or film anything in the place; and 25
(c) take extracts from, and make copies of, any documents in the 26
8 Section 83 (Identity cards for authorised auditors)
36
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
place; and 1
(d) take into the place persons, equipment and materials that the 2
authorised auditor reasonably requires; and 3
(e) require any person in the place to give to the authorised auditor 4
reasonable assistance in relation to the exercise of the powers 5
mentioned in paragraphs (a) to (d). 6
`(4) A person must not, without reasonable excuse, fail to comply with a 7
requirement made under subsection (3)(e). 8
Maximum penalty--40 penalty units. 9
`(5) It is not a reasonable excuse for a person to fail to comply with a 10
requirement made under subsection (3)(e) that complying with the 11
requirement might tend to incriminate the person. 12
`(6) Neither an answer by a person under a requirement made under 13
subsection (3)(e), nor any information, document or other thing obtained as 14
a direct or indirect consequence of the person giving the answer, is 15
admissible against the person in a criminal proceeding (other than a 16
proceeding relating to the falsity of the answer) if-- 17
(a) the person, before giving the answer, claimed that giving the 18
answer might tend to incriminate the person; and 19
(b) the answer might in fact tend to incriminate the person. 20
`(7) The fact that a document was produced by a person under a 21
requirement made under subsection (3)(e) is not admissible in evidence 22
against the person in a criminal proceeding (other than a proceeding relating 23
to the falsity of the document) if-- 24
(a) the person, before producing the document, claimed that 25
producing the document might tend to incriminate the person; and 26
(b) producing the document might in fact tend to incriminate the 27
person. 28
37
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Obtaining information 1
`86.(1) If it is reasonably necessary for the purposes of an audit under the 2
applied provisions, an authorised auditor may, by written notice given to a 3
person, require the person to give to the authorised auditor specified 4
information, within a reasonable period and in a reasonable way specified in 5
the notice. 6
`(2) A person must not, without reasonable excuse, fail to comply with a 7
requirement made under subsection (1). 8
Maximum penalty--40 penalty units. 9
`(3) It is not a reasonable excuse for a person to fail to comply with a 10
requirement under subsection (1) that complying with the requirement 11
might tend to incriminate the person. 12
`(4) Neither information given by a person under a requirement under 13
subsection (1), nor any other information or a document or other thing 14
obtained as a direct or indirect consequence of the person giving the 15
information, is admissible against the person in a criminal proceeding (other 16
than a proceeding relating to the falsity of the information) if-- 17
(a) the person, before giving the information, claimed that giving the 18
information might tend to incriminate the person; and 19
(b) giving the information might in fact tend to incriminate the 20
person. 21
`Obtaining evidence 22
`87.(1) If it is reasonably necessary for the purposes of an audit under the 23
applied provisions, an authorised auditor may, by written notice given to a 24
person, require the person-- 25
(a) to attend before an authorised auditor, at a reasonable time and 26
place specified in the notice, and then and there answer questions; 27
and 28
(b) to produce to an authorised auditor, at a reasonable time and place 29
specified in the notice, documents belonging to, in the custody of, 30
38
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
or under the control of, the person. 1
`(2) The authorised auditor before whom the person attends may require 2
answers to be verified or given on oath or affirmation, and either orally or in 3
writing, and for that purpose the authorised auditor may administer an oath 4
or affirmation. 5
`(3) The oath to be taken, or affirmation to be made, by a person for the 6
purposes of this section is an oath or affirmation that the answers the person 7
will give will be true. 8
`(4) An authorised auditor to whom a document is produced under a 9
notice under subsection (1)-- 10
(a) may keep the document for a reasonable period for the purposes 11
of conducting the relevant audit; and 12
(b) may take extracts from and make copies of the document. 13
`(5) While the authorised auditor has possession of the document, the 14
authorised auditor must allow the document to be inspected at any 15
reasonable time by a person who would be entitled to inspect it if it were not 16
in the authorised auditor's possession. 17
`(6) Not applied. 18
`(7) A person must not, without reasonable excuse, fail to comply with a 19
notice under subsection (1). 20
Maximum penalty--40 penalty units. 21
`(8) It is not a reasonable excuse for a person to fail to comply with a 22
notice under subsection (1) that complying with the notice might tend to 23
incriminate the person. 24
`(9) Neither an answer given by a person under this section, nor any 25
information, document or other thing obtained as a direct or indirect 26
consequence of the person giving the answer, is admissible against the 27
person in a criminal proceeding (other than a proceeding relating to the 28
falsity of the answer) if-- 29
(a) the person, before giving the answer, claimed that giving the 30
answer might tend to incriminate the person; and 31
39
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(b) the answer might in fact tend to incriminate the person. 1
`(10) The fact that a document was produced by a person under this 2
section is not admissible in evidence against the person in a criminal 3
proceeding (other than a proceeding relating to the falsity of the document) 4
if-- 5
(a) the person, before producing the document, claimed that 6
producing the document might tend to incriminate the person; and 7
(b) producing the document might in fact tend to incriminate the 8
person. 9
`Compensation 10
`88.(1) A person (other than a company GOC) who incurs any loss or 11
expense-- 12
(a) because of the exercise or purported exercise of a power under 13
this division; or 14
(b) in complying with a requirement made of the person under this 15
division; 16
may claim compensation from the State. 17
`(2) A payment of compensation may be claimed and ordered-- 18
(a) in a proceeding for compensation brought in a court of competent 19
jurisdiction for the recovery of compensation; or 20
(b) during a proceeding for an offence against the applied provisions 21
brought against the person by whom the claim is made. 22
`(3) A court may order the payment of compensation for the loss or 23
expense only if it is satisfied that it is just to do so in the circumstances of 24
the particular case. 25
`False or misleading information 26
`89.(1) A person must not-- 27
40
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(a) make a statement to an authorised auditor that the person knows 1
is false or misleading in a material particular; or 2
(b) omit from a statement made to an authorised auditor anything 3
without which the statement is, to the person's knowledge, 4
misleading in a material particular. 5
Maximum penalty--80 penalty units. 6
`(2) A complaint against a person for an offence against subsection (1)(a) 7
or (b) is sufficient if it states that the information given was false or 8
misleading to the person's knowledge. 9
`Obstruction of authorised auditor 10
`90. A person must not, without reasonable excuse-- 11
(a) obstruct, hinder or resist; or 12
(b) attempt to obstruct, hinder or resist; 13
an authorised auditor in the exercise of a power under the applied 14
provisions. 15
Maximum penalty--80 penalty units. 16
`Impersonation of authorised auditor 17
`91. A person must not pretend to be an authorised auditor. 18
Maximum penalty--80 penalty units. 19
`Confidentiality 20
`92.(1) In this section-- 21
"person to whom this section applies" means a person who is or has 22
been-- 23
(a) an authorised auditor; or 24
(b) a person engaged or employed by a contract auditor; 25
41
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
"protected information" means information that is obtained under the 1
applied provisions. 2
`(2) A person to whom this section applies must not-- 3
(a) make a record of protected information; or 4
(b) whether directly or indirectly, divulge or communicate protected 5
information; 6
unless the record is made, or the information is divulged or 7
communicated-- 8
(c) under or for the purposes of the applied provisions; or 9
(d) in the performance of duties, as a person to whom this section 10
applies, under or for the purposes of the applied provisions. 11
Maximum penalty--200 penalty units or imprisonment for 1 year. 12
`(3) Subsection (2) does not prevent the disclosure of information to-- 13
(a) the Parliamentary Committee;9 or 14
(b) the Public Works Committee of the Legislative Assembly; or 15
(c) the Criminal Justice Commission; or 16
(d) a police officer, or a person or body responsible for the 17
investigation or prosecution of offences, if the information relates 18
to the investigation or prosecution of an offence; or 19
(e) a court for the purposes of the prosecution of a person for an 20
offence. 21
`Report on audit 22
`93.(1) The auditor-general may prepare a report on any audit conducted 23
under the applied provisions. 24
9 FA and A Act, section 5--
"parliamentary committee" means the Public Accounts Committee of the
Legislative Assembly.
42
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`(2) An authorised auditor (other than the auditor-general) must give the 1
auditor-general a report on every audit conducted under the applied 2
provisions by the authorised auditor. 3
`(3) A report under subsection (1) or (2) may contain observations and 4
suggestions about anything arising out of the audit. 5
`(4) If the auditor-general is of the opinion that observations or 6
suggestions made under subsection (3) require attention or further 7
consideration, the auditor-general must give them (together with any 8
comments on them)-- 9
(a) not applied; 10
(b) not applied; 11
(c) to the chairperson of the company GOC concerned and the 12
person responsible for the financial administration of the GOC. 13
`(5) If the auditor-general is of the opinion that the observations or 14
suggestions made under subsection (3) are of significance, the 15
auditor-general must also give them (together with any comments on them) 16
to the shareholding Ministers of the company GOC concerned. 17
`Protection from liability 18
`94.(1) An authorised auditor does not incur civil liability for an act or 19
omission done or omitted to be done honestly and without negligence under 20
or for the purposes of the applied provisions. 21
`(2) A liability that would, but for subsection (1), attach to an authorised 22
auditor attaches instead to the State. 23
`Audit fees 24
`95.(1) The auditor-general may charge fees for an audit conducted by 25
the auditor-general under the applied provisions. 26
`(2) The auditor-general may, with the Treasurer's approval, determine 27
the basic rates of fees. 28
43
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`(3) The auditor-general must assess the fees for an audit having regard 1
to the basic rates of fees determined under subsection (2). 2
`(4) Unpaid fees may be recovered by the auditor-general as a debt due to 3
the auditor-general. 4
`Applied provisions do not limit other powers of auditor-general 5
`96. The applied provisions do not limit any power that the 6
auditor-general has apart from those provisions. 7
`Division 3--Reports to the Legislative Assembly 8
`97. Not applied. 9
`98. Not applied. 10
`Annual reports on audits of company GOCs 11
`99.(1) The auditor-general must prepare a report to the Legislative 12
Assembly on each audit conducted of a company GOC by an authorised 13
auditor. 14
`(2) The report must-- 15
(a) state whether or not-- 16
(i) the audit of the company GOC has been completed; and 17
(ii) the statements relating to the accounts of the company GOC 18
have been audited; and 19
(b) draw attention to any case in which the functions relating to the 20
financial management of the company GOC were not adequately 21
and properly performed if, in the auditor-general's opinion, the 22
matter is of sufficient significance to require inclusion in the 23
report; and 24
44
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(c) set out-- 1
(i) the results of audits conducted, in relation to the relevant 2
financial year, of subsidiaries of a company GOC by an 3
authorised auditor; and 4
(ii) if audits were not conducted in relation to particular 5
subsidiaries--the reasons why they were not conducted; and 6
(d) deal with the action (if any) taken to remedy significant 7
deficiencies reported in previous reports on audits of the company 8
GOC. 9
`(3) Subsection (2)(c) does not apply if section 9910 of the FA and A Act 10
applies to the subsidiaries concerned under the Government Owned 11
Corporations Act 1993, section 128.11 12
`Reports on audits requested by Parliament 13
`100. The auditor-general must prepare a report to the Legislative 14
Assembly on each audit conducted at the request of the Legislative 15
Assembly. 16
`Interim, supplementary and combined reports 17
`101.(1) The auditor-general may prepare interim and supplementary 18
reports to the Legislative Assembly on any matter on which the 19
auditor-general is to report or has reported. 20
`(2) The auditor-general may combine reports on any 2 or more audits. 21
`Other reports 22
`102. The auditor-general may prepare any of the following reports to the 23
Legislative Assembly-- 24
10 Section 99 (Annual reports on audits of public sector entities)
11 Section 128 (Application of Financial Administration and Audit Act)
45
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(a) if the auditor-general considers it desirable to do so at any 1
particular time for reasons of urgency--a report on any 2
significant matter arising out of an audit under the applied 3
provisions; 4
(b) if the auditor-general considers it to be in the public interest to do 5
so--a full report on, or a report on any specific matters arising 6
out of, a particular audit under the applied provisions; 7
(c) if the auditor-general considers it otherwise appropriate to do so at 8
any time--a report on any matter arising out of an audit under the 9
applied provisions to which attention should be drawn; 10
(d) not applied. 11
`Comments on proposed audit reports 12
`103.(1) If the auditor-general proposes to include in a report to the 13
Legislative Assembly under this division a matter that, in the 14
auditor-general's opinion, is a matter of significance, the auditor-general 15
must give written advice of the matter that is proposed to be included to-- 16
(a) not applied; 17
(b) not applied; 18
(c) the chairperson of the company GOC concerned and the person 19
responsible for the financial administration of the GOC; 20
and-- 21
(d) not applied; 22
(e) (words omitted) to the GOC's shareholding Ministers. 23
`(2) The advice must include a statement to the effect that comments on 24
the proposed matter may be made in writing given to the auditor-general-- 25
(a) within 21 days after the advice is received; or 26
(b) within such longer period as is specified in the advice. 27
`(3) If comments are received within the 21 days or longer period, the 28
auditor-general must include them in the report. 29
46
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Procedure for reporting certain sensitive information 1
`104.(1) If the auditor-general considers that it would be against the 2
public interest to disclose in a report under this division information that 3
could-- 4
(a) have a serious adverse effect on the commercial interests of a 5
company GOC; or 6
(b) reveal trade secrets of a company GOC; or 7
(c) prejudice the investigation of a contravention or possible 8
contravention of the law; or 9
(d) prejudice the fair trial of a person; or 10
(e) cause damage to the relations between the Government of the 11
State and another Government; 12
the auditor-general must not disclose the information in the report but must 13
instead include it in a report prepared and given to the Parliamentary 14
Committee. 15
`(2) This section has effect despite anything in the applied provisions or 16
any Act. 17
`Tabling of reports 18
`105.(1) A report prepared under this division must be given to the 19
speaker or, if there is no speaker or the speaker is unavailable, to the clerk of 20
the Parliament. 21
`(2) The speaker or clerk must cause a copy of the report to be laid before 22
the Legislative Assembly on its next sitting day. 23
`(3) For the purposes of its printing and publication, a report that is given 24
to the speaker or the clerk under subsection (2) is taken to have been laid 25
before the Legislative Assembly, and to have been ordered to be printed by 26
the Legislative Assembly, when it is given to the speaker or the clerk. 27
47
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`PART 5--PROVISIONS OF FA AND A ACT 1
APPLYING UNDER SECTION 6 TO COMPANY GOC 2
SUBSIDIARIES 3
`PART 3--FINANCIAL 4
ADMINISTRATION--COMPANY GOC SUBSIDIARIES 5
`46C. Not applied. 6
`Company GOC subsidiaries to prepare annual financial statements 7
`46F.(1) A company GOC subsidiary must give to the auditor-general 8
the financial statements prepared by it under the Corporations Law. 9
`(2) The company GOC subsidiary must comply with subsection (1) 10
within 2 months after the end of each financial year or the longer period 11
agreed to between the subsidiary and the auditor-general. 12
`(3) to (9) Not applied. 13
`46G. Not applied. 14
`Company GOC subsidiaries must consider auditor-general's 15
observations and suggestions 16
`46H. If a chairperson of a company GOC subsidiary is given 17
observations or suggestions (together with any comments on them) under 18
section 93(4), the chairperson must ensure they are considered at the 19
subsidiary's next ordinary meeting. 20
`Annual report 21
`46J.(1) As soon as possible after the close of each financial year but, 22
subject to subsection (2), in no case later than 4 months after that close a 23
48
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
company GOC subsidiary shall prepare and furnish to the shareholding 1
Ministers of each shareholding GOC of the subsidiary a report in writing 2
on the operations of the subsidiary during that financial year. 3
`(2) The shareholding Ministers may, in a particular case, extend or 4
further extend the period of 4 months referred to in subsection (1) by 5
written notice given to the company GOC subsidiary. 6
`(2A) If the shareholding Ministers extend the period referred to in 7
subsection (1) to a period of more than 6 months, the Ministers must, 8
within 14 days of granting that extension, give to the Legislative Assembly 9
an explanation for the granting of that extension. 10
`(3) The report-- 11
(a) shall contain such information as the shareholding Ministers 12
direct to enable the Ministers to assess the efficiency, 13
effectiveness and economy of the company GOC subsidiary and 14
the need for its continuance; and 15
(b) shall contain a copy of the annual financial statements of the 16
company GOC subsidiary relating to that financial year prepared 17
under the Corporations Law; and 18
(c) shall contain the information required, under the Government 19
Owned Corporations Act 1993 as applied to the company GOC 20
subsidiary, to be included in the annual report of the subsidiary. 21
`(4) Subsection (3) is subject to the Government Owned Corporations 22
Act 1993, section 132,12 as applied to a company GOC subsidiary. 23
12 Section 132 (Deletion of commercially sensitive matters from annual report etc.)
49
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`PART 3A--TABLING OF ANNUAL REPORTS 1
`Shareholding Ministers must table reports 2
`46K. Within 14 days after receiving the annual report of a company 3
GOC subsidiary, the shareholding Ministers of a shareholding GOC of the 4
subsidiary must table a copy of it in the Legislative Assembly. 5
`46KA. Not applied. 6
`Shareholding Ministers to explain late tabling of annual report 7
`46KB.(1) This section applies if the shareholding Ministers of a 8
shareholding GOC of a company GOC subsidiary table, in the Legislative 9
Assembly-- 10
(a) the annual report of the subsidiary later than 4 months and 11
14 days after the end of a financial year; or 12
(b) not applied. 13
`(2) The shareholding Ministers must also give the Legislative 14
Assembly a written statement-- 15
(a) stating the report is being tabled late; and 16
(b) stating the length of the delay; and 17
(c) explaining the reasons for the delay. 18
`Procedure if Legislative Assembly not in session or sitting 19
`46KC.(1) This section applies if the Legislative Assembly is not in 20
session or is not actually sitting when the shareholding Ministers of a 21
shareholding GOC of a company GOC subsidiary are required to do any 22
of the following things-- 23
(a) table a copy of an annual report in the Legislative Assembly; 24
50
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(b) give the Legislative Assembly a written statement about the late 1
tabling of an annual report; 2
(c) if the shareholding Ministers have given a company GOC 3
subsidiary an extension of time for giving the Ministers a copy of 4
its annual report--give the Legislative Assembly an explanation 5
for giving the extension. 6
`(2) The shareholding Ministers must give a copy of the report, the 7
written statement or the explanation to the clerk of the Parliament. 8
`(3) The clerk must table the report, statement or explanation before the 9
Legislative Assembly on its next sitting day. 10
`(4) The report, statement or explanation is taken to have been tabled in 11
the Legislative Assembly on the day it is given to the clerk. 12
`(5) The day of receipt of the report, statement or explanation must be 13
recorded in the votes and proceedings on the next sitting day. 14
`(6) If the Legislative Assembly orders the report, statement or 15
explanation to be printed, the report, statement or explanation is taken to 16
have been ordered to be printed by the Legislative Assembly on the day the 17
clerk receives it. 18
`PART 6--AUDIT OF COMPANY GOC SUBSIDIARIES 19
`Division 1--Scope of auditor-general's mandate 20
`73. Not applied. 21
`74. Not applied. 22
51
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Shareholding Ministers to give auditor-general information relating to 1
company GOC subsidiaries 2
`75.(1) If a company GOC subsidiary acts under the Government 3
Owned Corporations Act 1993, section 163,13 the shareholding Ministers 4
of each shareholding GOC of the subsidiary must give the auditor-general 5
any information about the matter that the auditor-general requires. 6
`(2) Not applied. 7
`Auditor-general to be appointed auditor of every company GOC 8
subsidiary 9
`76.(1) The shareholders of a company GOC subsidiary must-- 10
(a) appoint the auditor-general to be the auditor of the subsidiary; and 11
(b) ensure that the auditor-general remains, at all times, the auditor of 12
the subsidiary while the subsidiary remains a company GOC 13
subsidiary. 14
`(2) Not applied. 15
`Audits at request of Parliament 16
`77.(1) If the Legislative Assembly, by resolution, requests the 17
auditor-general to conduct an audit of a matter relating to the financial 18
administration of a company GOC subsidiary, the auditor-general must 19
conduct the audit. 20
`(2) Not applied. 21
`78. Not applied. 22
13 Section 163 (Acquiring and disposing of subsidiaries)
52
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Division 2--Conduct of audits 1
`Way in which audit is to be conducted 2
`79.(1) The auditor-general may conduct an audit in the way the 3
auditor-general considers appropriate. 4
`(2) In determining the appropriate way to conduct an audit, the 5
auditor-general may have regard to-- 6
(a) the character of the relevant internal control system (including 7
internal audit); and 8
(b) recognised standards and practices. 9
`(3) Subsection (2) does not limit the matters to which the auditor- 10
general may have regard. 11
`(4) The auditor-general is not limited to conducting the audit in 12
accordance with the Corporations Law, and may do anything else that the 13
auditor-general considers appropriate. 14
`Audit of performance management systems 15
`80.(1) The auditor-general may conduct an audit of performance 16
management systems of a company GOC subsidiary. 17
`(2) The audit may be conducted as a separate audit or as part of another 18
audit (including an audit of another company GOC subsidiary under this 19
section). 20
`(3) The object of the audit includes determining whether the 21
performance management systems enable the company GOC subsidiary to 22
assess whether its objectives are being achieved economically, efficiently 23
and effectively. 24
`(4) Not applied. 25
`81. Not applied. 26
53
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Appointment of contract auditors 1
`82.(1) For auditing company GOC subsidiaries the auditor-general 2
may appoint an appropriately qualified individual who is not a member of 3
the staff of the Audit Office to be a contract auditor. 4
`(2) The appointment of a person to be a contract auditor may be general 5
or limited to a particular audit. 6
`(3) The contract auditor-- 7
(a) is appointed on the terms specified in the instrument of 8
appointment; and 9
(b) may resign the appointment by signed notice given to the 10
auditor-general. 11
`Identity cards for contract auditors 12
`83.(1) The auditor-general may issue an identity card to a contract 13
auditor. 14
`(2) The identity card must-- 15
(a) contain a recent photograph of the contract auditor; and 16
(b) be signed by the contract auditor and the auditor-general. 17
`(3) A person who ceases to be a contract auditor must not, without 18
reasonable excuse, fail to return the person's identity card to the 19
auditor-general as soon as practicable after ceasing to be a contract auditor. 20
Maximum penalty for subsection (3)--10 penalty units. 21
`Proof of authority as authorised auditor 22
`84(1). An authorised auditor may exercise a power under the applied 23
provisions in relation to a person only if the authorised auditor produces his 24
or her identity card for inspection by the person. 25
`(2) In this section-- 26
"identity card" means---- 27
54
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(a) for a contract auditor, the identity card issued to the auditor 1
under section 83; or 2
(b) for another authorised auditor, the identity card issued to the 3
auditor under section 8314 of the FA and A Act. 4
`Access to documents and property 5
`85.(1) Not applied. 6
`(2) For the purpose of conducting an audit of a company GOC 7
subsidiary under the applied provisions, an authorised auditor is entitled, at 8
all reasonable times, to full and free access to all documents and property 9
belonging to, in the custody of, or under the control of, the subsidiary. 10
`(3) For the purpose of conducting an audit under the applied provisions, 11
an authorised auditor may-- 12
(a) enter, at any reasonable time-- 13
(i) a place occupied by a company GOC subsidiary; or 14
(ii) a place occupied by a financial institution with which a 15
company GOC subsidiary maintains an account; or 16
(iii) another place if the occupier of the place consents to the 17
entry; and 18
(b) inspect, examine, photograph or film anything in the place; and 19
(c) take extracts from, and make copies of, any documents in the 20
place; and 21
(d) take into the place persons, equipment and materials that the 22
authorised auditor reasonably requires; and 23
(e) require any person in the place to give to the authorised auditor 24
reasonable assistance in relation to the exercise of the powers 25
mentioned in paragraphs (a) to (d). 26
`(4) A person must not, without reasonable excuse, fail to comply with a 27
14 Section 83 (Identity cards for authorised auditors)
55
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
requirement made under subsection (3)(e). 1
Maximum penalty--40 penalty units. 2
`(5) It is not a reasonable excuse for a person to fail to comply with a 3
requirement made under subsection (3)(e) that complying with the 4
requirement might tend to incriminate the person. 5
`(6) Neither an answer by a person under a requirement made under 6
subsection (3)(e), nor any information, document or other thing obtained as 7
a direct or indirect consequence of the person giving the answer, is 8
admissible against the person in a criminal proceeding (other than a 9
proceeding relating to the falsity of the answer) if-- 10
(a) the person, before giving the answer, claimed that giving the 11
answer might tend to incriminate the person; and 12
(b) the answer might in fact tend to incriminate the person. 13
`(7) The fact that a document was produced by a person under a 14
requirement made under subsection (3)(e) is not admissible in evidence 15
against the person in a criminal proceeding (other than a proceeding relating 16
to the falsity of the document) if-- 17
(a) the person, before producing the document, claimed that 18
producing the document might tend to incriminate the person; and 19
(b) producing the document might in fact tend to incriminate the 20
person. 21
`Obtaining information 22
`86.(1) If it is reasonably necessary for the purposes of an audit under the 23
applied provisions, an authorised auditor may, by written notice given to a 24
person, require the person to give to the authorised auditor specified 25
information, within a reasonable period and in a reasonable way specified in 26
the notice. 27
`(2) A person must not, without reasonable excuse, fail to comply with a 28
requirement made under subsection (1). 29
Maximum penalty--40 penalty units. 30
56
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`(3) It is not a reasonable excuse for a person to fail to comply with a 1
requirement under subsection (1) that complying with the requirement 2
might tend to incriminate the person. 3
`(4) Neither information given by a person under a requirement under 4
subsection (1), nor any other information or a document or other thing 5
obtained as a direct or indirect consequence of the person giving the 6
information, is admissible against the person in a criminal proceeding (other 7
than a proceeding relating to the falsity of the information) if-- 8
(a) the person, before giving the information, claimed that giving the 9
information might tend to incriminate the person; and 10
(b) giving the information might in fact tend to incriminate the 11
person. 12
`Obtaining evidence 13
`87.(1) If it is reasonably necessary for the purposes of an audit under the 14
applied provisions, an authorised auditor may, by written notice given to a 15
person, require the person-- 16
(a) to attend before an authorised auditor, at a reasonable time and 17
place specified in the notice, and then and there answer questions; 18
and 19
(b) to produce to an authorised auditor, at a reasonable time and place 20
specified in the notice, documents belonging to, in the custody of, 21
or under the control of, the person. 22
`(2) The authorised auditor before whom the person attends may require 23
answers to be verified or given on oath or affirmation, and either orally or in 24
writing, and for that purpose the authorised auditor may administer an oath 25
or affirmation. 26
`(3) The oath to be taken, or affirmation to be made, by a person for the 27
purposes of this section is an oath or affirmation that the answers the person 28
will give will be true. 29
`(4) An authorised auditor to whom a document is produced under a 30
notice under subsection (1)-- 31
57
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(a) may keep the document for a reasonable period for the purposes 1
of conducting the relevant audit; and 2
(b) may take extracts from and make copies of the document. 3
`(5) While the authorised auditor has possession of the document, the 4
authorised auditor must allow the document to be inspected at any 5
reasonable time by a person who would be entitled to inspect it if it were not 6
in the authorised auditor's possession. 7
`(6) Not applied. 8
`(7) A person must not, without reasonable excuse, fail to comply with a 9
notice under subsection (1). 10
Maximum penalty--40 penalty units. 11
`(8) It is not a reasonable excuse for a person to fail to comply with a 12
notice under subsection (1) that complying with the notice might tend to 13
incriminate the person. 14
`(9) Neither an answer given by a person under this section, nor any 15
information, document or other thing obtained as a direct or indirect 16
consequence of the person giving the answer, is admissible against the 17
person in a criminal proceeding (other than a proceeding relating to the 18
falsity of the answer) if-- 19
(a) the person, before giving the answer, claimed that giving the 20
answer might tend to incriminate the person; and 21
(b) the answer might in fact tend to incriminate the person. 22
`(10) The fact that a document was produced by a person under this 23
section is not admissible in evidence against the person in a criminal 24
proceeding (other than a proceeding relating to the falsity of the document) 25
if-- 26
(a) the person, before producing the document, claimed that 27
producing the document might tend to incriminate the person; and 28
(b) producing the document might in fact tend to incriminate the 29
person. 30
58
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Compensation 1
`88.(1) A person (other than a company GOC subsidiary) who incurs 2
any loss or expense-- 3
(a) because of the exercise or purported exercise of a power under 4
this division; or 5
(b) in complying with a requirement made of the person under this 6
division; 7
may claim compensation from the State. 8
`(2) A payment of compensation may be claimed and ordered-- 9
(a) in a proceeding for compensation brought in a court of competent 10
jurisdiction for the recovery of compensation; or 11
(b) during a proceeding for an offence against the applied provisions 12
brought against the person by whom the claim is made. 13
`(3) A court may order the payment of compensation for the loss or 14
expense only if it is satisfied that it is just to do so in the circumstances of 15
the particular case. 16
`False or misleading information 17
`89.(1) A person must not-- 18
(a) make a statement to an authorised auditor that the person knows 19
is false or misleading in a material particular; or 20
(b) omit from a statement made to an authorised auditor anything 21
without which the statement is, to the person's knowledge, 22
misleading in a material particular. 23
Maximum penalty--80 penalty units. 24
`(2) A complaint against a person for an offence against subsection (1)(a) 25
or (b) is sufficient if it states that the information given was false or 26
misleading to the person's knowledge. 27
59
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Obstruction of authorised auditor 1
`90. A person must not, without reasonable excuse-- 2
(a) obstruct, hinder or resist; or 3
(b) attempt to obstruct, hinder or resist; 4
an authorised auditor in the exercise of a power under the applied 5
provisions. 6
Maximum penalty--80 penalty units. 7
`Impersonation of authorised auditor 8
`91. A person must not pretend to be an authorised auditor. 9
Maximum penalty--80 penalty units. 10
`Confidentiality 11
`92.(1) In this section-- 12
"person to whom this section applies" means a person who is or has 13
been-- 14
(a) an authorised auditor; or 15
(b) a person engaged or employed by a contract auditor; 16
"protected information" means information that is obtained under the 17
applied provisions. 18
`(2) A person to whom this section applies must not-- 19
(a) make a record of protected information; or 20
(b) whether directly or indirectly, divulge or communicate protected 21
information; 22
unless the record is made, or the information is divulged or 23
communicated-- 24
(c) under or for the purposes of the applied provisions; or 25
60
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(d) in the performance of duties, as a person to whom this section 1
applies, under or for the purposes of the applied provisions. 2
Maximum penalty--200 penalty units or imprisonment for 1 year. 3
`(3) Subsection (2) does not prevent the disclosure of information to-- 4
(a) the Parliamentary Committee;15 or 5
(b) the Public Works Committee of the Legislative Assembly; or 6
(c) the Criminal Justice Commission; or 7
(d) a police officer, or a person or body responsible for the 8
investigation or prosecution of offences, if the information relates 9
to the investigation or prosecution of an offence; or 10
(e) a court for the purposes of the prosecution of a person for an 11
offence. 12
`Report on audit 13
`93.(1) The auditor-general may prepare a report on any audit conducted 14
under the applied provisions. 15
`(2) An authorised auditor (other than the auditor-general) must give the 16
auditor-general a report on every audit conducted under the applied 17
provisions by the authorised auditor. 18
`(3) A report under subsection (1) or (2) may contain observations and 19
suggestions about anything arising out of the audit. 20
`(4) If the auditor-general is of the opinion that observations or 21
suggestions made under subsection (3) require attention or further 22
consideration, the auditor-general must give them (together with any 23
comments on them)-- 24
(a) not applied; 25
15 FA and A Act, section 5--
"parliamentary committee" means the Public Accounts Committee of the
Legislative Assembly.
61
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(b) not applied; 1
(c) to the chairperson of the company GOC subsidiary concerned 2
and the person responsible for the financial administration of the 3
subsidiary. 4
`(5) If the auditor-general is of the opinion that the observations or 5
suggestions made under subsection (3) are of significance, the 6
auditor-general must also give them (together with any comments on them) 7
to the shareholding Ministers of each shareholding GOC, and each 8
shareholding GOC, of the subsidiary concerned. 9
`Protection from liability 10
`94.(1) An authorised auditor does not incur civil liability for an act or 11
omission done or omitted to be done honestly and without negligence under 12
or for the purposes of the applied provisions. 13
`(2) A liability that would, but for subsection (1), attach to an authorised 14
auditor attaches instead to the State. 15
`Audit fees 16
`95.(1) The auditor-general may charge fees for an audit conducted by 17
the auditor-general under the applied provisions. 18
`(2) The auditor-general may, with the Treasurer's approval, determine 19
the basic rates of fees. 20
`(3) The auditor-general must assess the fees for an audit having regard 21
to the basic rates of fees determined under subsection (2). 22
`(4) Unpaid fees may be recovered by the auditor-general as a debt due to 23
the auditor-general. 24
`Applied provisions do not limit other powers of auditor-general 25
`96. The applied provisions do not limit any power that the 26
auditor-general has apart from those provisions. 27
62
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Division 3--Reports to the Legislative Assembly 1
`97. Not applied. 2
`98. Not applied. 3
`Annual reports on audits of company GOC subsidiaries 4
`99.(1) The auditor-general must prepare a report to the Legislative 5
Assembly on each audit conducted of a company GOC subsidiary by an 6
authorised auditor. 7
`(2) The report must-- 8
(a) state whether or not-- 9
(i) the audit of the company GOC subsidiary has been 10
completed; and 11
(ii) the statements relating to the accounts of the company GOC 12
subsidiary have been audited; and 13
(b) draw attention to any case in which the functions relating to the 14
financial management of the company GOC subsidiary were not 15
adequately and properly performed if, in the auditor-general's 16
opinion, the matter is of sufficient significance to require 17
inclusion in the report; and 18
(c) set out-- 19
(i) the results of audits conducted, in relation to the relevant 20
financial year, of subsidiaries of a company GOC 21
subsidiary by an authorised auditor; and 22
(ii) if audits were not conducted in relation to particular 23
subsidiaries--the reasons why they were not conducted; and 24
(d) deal with the action (if any) taken to remedy significant 25
deficiencies reported in previous reports on audits of the company 26
GOC subsidiary. 27
63
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Reports on audits requested by Parliament 1
`100. The auditor-general must prepare a report to the Legislative 2
Assembly on each audit conducted at the request of the Legislative 3
Assembly. 4
`Interim, supplementary and combined reports 5
`101.(1) The auditor-general may prepare interim and supplementary 6
reports to the Legislative Assembly on any matter on which the 7
auditor-general is to report or has reported. 8
`(2) The auditor-general may combine reports on any 2 or more audits. 9
`Other reports 10
`102. The auditor-general may prepare any of the following reports to the 11
Legislative Assembly-- 12
(a) if the auditor-general considers it desirable to do so at any 13
particular time for reasons of urgency--a report on any 14
significant matter arising out of an audit under the applied 15
provisions; 16
(b) if the auditor-general considers it to be in the public interest to do 17
so--a full report on, or a report on any specific matters arising 18
out of, a particular audit under the applied provisions; 19
(c) if the auditor-general considers it otherwise appropriate to do so at 20
any time--a report on any matter arising out of an audit under the 21
applied provisions to which attention should be drawn; 22
(d) not applied. 23
`Comments on proposed audit reports 24
`103.(1) If the auditor-general proposes to include in a report to the 25
Legislative Assembly under this division a matter that, in the 26
auditor-general's opinion, is a matter of significance, the auditor-general 27
64
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
must give written advice of the matter that is proposed to be included to-- 1
(a) not applied; 2
(b) not applied; 3
(c) the chairperson of the company GOC subsidiary concerned and 4
the person responsible for the financial administration of the 5
subsidiary; 6
and-- 7
(d) not applied; 8
(e) (words omitted) to the shareholding Ministers of each 9
shareholding GOC, and each shareholding GOC, of the 10
company GOC subsidiary. 11
`(2) The advice must include a statement to the effect that comments on 12
the proposed matter may be made in writing given to the auditor-general-- 13
(a) within 21 days after the advice is received; or 14
(b) within such longer period as is specified in the advice. 15
`(3) If comments are received within the 21 days or longer period, the 16
auditor-general must include them in the report. 17
`Procedure for reporting certain sensitive information 18
`104.(1) If the auditor-general considers that it would be against the 19
public interest to disclose in a report under this division information that 20
could-- 21
(a) have a serious adverse effect on the commercial interests of a 22
company GOC subsidiary; or 23
(b) reveal trade secrets of a company GOC subsidiary; or 24
(c) prejudice the investigation of a contravention or possible 25
contravention of the law; or 26
(d) prejudice the fair trial of a person; or 27
(e) cause damage to the relations between the Government of the 28
65
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
State and another Government; 1
the auditor-general must not disclose the information in the report but must 2
instead include it in a report prepared and given to the Parliamentary 3
Committee. 4
`(2) This section has effect despite anything in the applied provisions or 5
any Act. 6
`Tabling of reports 7
`105.(1) A report prepared under this division must be given to the 8
speaker or, if there is no speaker or the speaker is unavailable, to the clerk of 9
the Parliament. 10
`(2) The speaker or clerk must cause a copy of the report to be laid before 11
the Legislative Assembly on its next sitting day. 12
`(3) For the purposes of its printing and publication, a report that is given 13
to the speaker or the clerk under subsection (2) is taken to have been laid 14
before the Legislative Assembly, and to have been ordered to be printed by 15
the Legislative Assembly, when it is given to the speaker or the clerk. 16
17
66
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`SCHEDULE 4 1
`APPLICATION OF CHAPTER 3 OF ACT TO 2
COMPANY GOC SUBSIDIARIES 3
section 177 4
`PART 1--PRELIMINARY 5
`Purpose 6
`1. This schedule provides for-- 7
(a) the application of provisions of chapter 3 16 of the Act to company 8
GOC subsidiaries as if they were GOCs; and 9
(b) the modification of the provisions for their application to the 10
subsidiaries. 11
`Definitions 12
`2. In this schedule-- 13
"applied provisions" means the provisions of chapter 3 of the Act as 14
applying under section 3. 15
"company GOC subsidiary" means a company GOC subsidiary 16
prescribed under a regulation under section 177 of the Act. 17
`Application of ch 3 of the Act to company GOC subsidiaries 18
`3.(1) Chapter 3 of the Act applies to each company GOC subsidiary 19
with the changes shown in part 2. 20
16 Chapter 3 (Government owned corporations (GOCs))
67
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`(2) Subject to the changes mentioned in subsection (1), the provisions 1
are applied as in force immediately before the commencement of this 2
section. 3
`PART 2--PROVISIONS OF CHAPTER 3 OF ACT AS 4
APPLIED TO COMPANY GOC SUBSIDIARIES 17 5
section 3 of this schedule 6
`CHAPTER 3--COMPANY GOC SUBSIDIARIES 7
`PART 1--BASIC REQUIREMENTS 8
`Division 1--Statutory GOCs (omitted) 9
`Division 2--Company GOC subsidiaries 10
`Company GOC subsidiary must be proprietary company limited by 11
shares 12
`66. A company GOC subsidiary must be a proprietary company, and a 13
company limited by shares, within the meaning of the Corporations Law. 14
17 This part shows how the Government Owned Corporations Act 1993, chapter 3 is
applied. Changes other than in division headings appear in italics. Citation of
Acts are also in italics. Changes in division headings are in roman type.
Provisions that are not applied are indicated by "(omitted)".
68
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`PART 2--APPLICATION OF CORPORATIONS LAW 1
`Division 1--Statutory GOCs (omitted) 2
`Division 2--Company GOC subsidiaries 3
`Application of Corporations Law to company GOC subsidiaries 4
`69. The Corporations Law applies to a company GOC subsidiary except 5
so far as the applied provisions otherwise provide. 6
`Company GOC subsidiary not exempt public authority 7
`70. A company GOC subsidiary is not an exempt public authority for 8
the purposes of the Corporations Law. 9
`PART 3--SHARES AND SHAREHOLDING 10
MINISTERS 11
`Division 1--Statutory GOCs (omitted) 12
`Division 2--Company GOC subsidiaries 13
`Number of shareholders 14
`76. A company GOC subsidiary may have any number of shareholders. 15
69
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`All shareholders must be voting shareholders 1
`77. Each shareholder must be a voting shareholder. 2
`Shareholders must have equal number of shares (words omitted) 3
`78.(1) Each shareholder need not have an equal number of shares. 4
`(2) (omitted) 5
`Shareholders must be company GOCs 6
`79.(1) Each shareholder must be a company GOC. 7
`(2) (omitted) 8
`(3) (omitted) 9
`(4) (omitted) 10
`Meaning of "shareholding GOC" 11
`80.(1) Each GOC that is a shareholder of a subsidiary is its 12
"shareholding GOC". 13
`(2) (omitted) 14
`Resolutions without meetings 15
`81.(1) If each shareholding GOC of a company GOC subsidiary signs 16
a document containing a statement that it is in favour of a resolution set out 17
in the document-- 18
(a) a resolution in those terms is taken to have been passed at a 19
general meeting of the subsidiary held at the time at which, and 20
on the day on which, the document is signed by the last GOC; 21
and 22
(b) the subsidiary is taken to have held a general meeting at that time 23
on that day; and 24
70
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(c) the document is taken to be a minute of the meeting; and 1
(d) any document that is attached to the first document, and is signed 2
by each shareholding GOC, is taken to have been laid before the 3
subsidiary at the meeting; and 4
(e) if the resolution deals with all matters that are required to be dealt 5
with at an annual general meeting of the subsidiary--the 6
subsidiary is taken to have held an annual general meeting. 7
`(2) Subsection (1) applies to a resolution that is authorised or required 8
by the Corporations Law, or the subsidiary's memorandum or articles, to 9
be passed at a general meeting, including a resolution-- 10
(a) appointing an officer or auditor; or 11
(b) approving of, or agreeing to, anything. 12
`(3) For the purposes of subsection (1), 2 or more separate documents 13
containing a statement in identical terms, each of which is signed by a 14
shareholding GOC, are taken to constitute a single document. 15
`(4) This section has effect for the purposes of the Corporations Law and 16
has that effect despite anything in that Law. 17
`(5) Subsection (4) does not limit any other effect that this section may 18
have. 19
`(6) This section does not affect any rule of law relating to the 20
effectiveness of the assent of members of a company given to a document 21
or anything else otherwise than at a general meeting of the company. 22
`Division 3--GOCs generally 23
`Shareholders hold shares for State etc. 24
`82. (omitted) 25
71
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Transfer, issue etc. of shares 1
`83. (omitted)18 2
`Shareholding Ministers must act jointly 3
`84. (omitted) 4
`Shareholding GOCs not directors 5
`85.(1) A shareholding GOC of a company GOC subsidiary is not to be 6
treated as a director of the subsidiary or any subsidiary or proposed 7
subsidiary of the subsidiary. 8
`(2) (omitted) 9
`(3) (omitted) 10
`(4) (omitted) 11
`PART 4--MEMORANDUM AND ARTICLES (omitted)19 12
`PART 5--BOARD OF DIRECTORS 13
`Division 1--Statutory GOCs (omitted) 14
18 Section 83 is not applied The section applies to subsidiaries under its own force.
19 Part 4 is not applied. Sections 89 (Shareholding Ministers of company GOC may
require amendment of subsidiary's memorandum and articles) and 90
(Memorandum and articles of company GOC and its subsidiaries must not be
inconsistent with Act or Corporations Law) apply to subsidiaries under their own
force.
72
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Division 2--Company GOC subsidiaries 1
`Role of board 2
`95. The role of a company GOC subsidiary's board includes the 3
following matters-- 4
(a) responsibility for the subsidiary's commercial policy and 5
management; 6
(b) ensuring that, as far as possible, the subsidiary achieves, and acts 7
in accordance with, the statement of corporate intent of each of its 8
shareholding GOCs to the extent the statement is about the 9
subsidiary and carries out the objectives outlined in the statement 10
of corporate intent to the extent the objectives are about the 11
subsidiary; 12
(c) accounting to the subsidiary's shareholders for its performance as 13
required by the applied provisions and other laws applying to the 14
subsidiary; 15
(d) ensuring that the subsidiary otherwise performs its functions in a 16
proper, effective and efficient way. 17
`Composition of board 18
`96.(1) A company GOC subsidiary's board is to consist of the number 19
of directors that are appointed by the Governor in Council. 20
`(2) In appointing a person as a director, the Governor in council must 21
have regard to the person's ability to make a contribution to the subsidiary's 22
commercial performance and the implementation of the statement of 23
corporate intent (if any) of each shareholding GOC of the subsidiary to the 24
extent the statement relates to the subsidiary. 25
`(3) Subsection (1) has effect despite-- 26
(a) the subsidiary's memorandum and articles; and 27
(b) the Corporations Law. 28
73
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Public service officers not eligible for appointment as directors 1
`96A.(1) A public service officer is not eligible for appointment as a 2
director of a company GOC subsidiary. 3
`(2) subsection (1) has effect despite the Corporations Law. 4
`96B. (omitted) 5
`PART 6--CHIEF EXECUTIVE OFFICER 6
`Division 1--Statutory GOCs (omitted) 7
`Division 2--Company GOC subsidiaries 8
`Appointment of chief executive officer 9
`102.(1) A company GOC subsidiary's chief executive officer is to be 10
appointed by the Governor in Council on the recommendation of the 11
subsidiary's board. 12
`(2) This section has effect despite the Corporations Law. 13
`PART 7--CORPORATE PLAN (omitted)20 14
20 This part is not applied. Under part 7, division 1 (General), section 104
(Corporate plan to apply to subsidiaries), a GOC's corporate plan must apply to
the GOC and its subsidiaries.
74
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`PART 8--STATEMENT OF CORPORATE INTENT 1
(omitted)21 2
`PART 9--COMMUNITY SERVICE OBLIGATIONS 3
(omitted) 4
`PART 10--GENERAL RESERVE POWERS OF 5
SHAREHOLDING MINISTERS 6
`Exercise of reserve power of shareholding Ministers to notify GOC's 7
board of public sector policies 8
`123.(1) This section applies if, under section 123 (as it applies to 9
GOCs), the shareholding Ministers of a shareholding GOC of a company 10
GOC subsidiary notify the GOC's board, in writing, of a public sector 11
policy that is to apply to the GOC and its subsidiaries. 12
`(1A) The GOC must notify the subsidiary of the policy at least to the 13
extent that the policy concerns the subsidiary. 14
`(2) The subsidiary's board must ensure that the policy is carried out in 15
relation to the subsidiary to the extent that the policy concerns the 16
subsidiary. 17
`(3) (omitted) 18
`(4) (omitted) 19
`Exercise of reserve power of shareholding Ministers to give directions 20
in public interest 21
`124.(1) This section applies if, under section 124 (as it applies to 22
21 This part is not applied. Under part 8, division 1 (General), section 112
(Statement of corporate intent to apply to subsidiaries), a GOC's statement of
corporate intent must apply to the GOC and its subsidiaries.
75
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
GOCs), the shareholding Ministers of a shareholding GOC of a company 1
GOC subsidiary give the GOC's board a written direction in relation to the 2
GOC and its subsidiaries. 3
`(1A) The GOC must notify the subsidiary of the direction at least to the 4
extent that the direction concerns the subsidiary. 5
`(2) The subsidiary's board must ensure that the direction is complied 6
with in relation to the subsidiary to the extent that the direction concerns the 7
subsidiary. 8
`(3) (omitted) 9
`(4) (omitted) 10
`Direction given following notice of suspected insolvency 11
`125.(1) This section applies if-- 12
(a) the shareholding Ministers of a shareholding GOC of a company 13
GOC subsidiary give the GOC's board a notification under 14
section 123 (as it applies to GOCs) or a direction under 15
section 124 (as it applies to GOCs); and 16
(b) the GOC gives written notice to the shareholding Ministers and 17
the Auditor-General of-- 18
(i) its suspicion that the subsidiary will or may become 19
insolvent; and 20
(ii) the reasons for its opinion that the cause or a substantial 21
cause of the suspected insolvency would be compliance with 22
the notification or direction; and 23
(c) the shareholding Ministers give the GOC's board written 24
directions under section 125(4) (as it applies to GOCs). 25
`(1A) The GOC must notify the subsidiary of the written directions 26
mentioned in subsection (1)(c). 27
`(2) (omitted) 28
`(3) (omitted) 29
76
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`(4) (omitted) 1
`(5) (omitted) 2
`(6) The subsidiary's board must ensure that a direction under this 3
section is complied with in relation to the subsidiary. 4
`(7) (omitted) 5
`(8) (omitted) 6
`Subsidiary and board not otherwise subject to government direction 7
`126. Except as otherwise provided by the applied provisions or any 8
Act, a company GOC subsidiary and its board are not subject to direction 9
by or on behalf of the Government. 10
`PART 11--REPORTS AND OTHER 11
ACCOUNTABILITY MATTERS 12
`Division 1--Statutory GOCs (omitted) 13
`Division 2--Company GOC subsidiaries 14
`Application of Financial Administration and Audit Act 15
`128. (omitted) 16
`129.22 17
22 There is no section 129.
77
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Division 3--GOCs generally 1
`Quarterly reports 2
`130. (omitted)23 3
`Matters to be included in annual report 4
`131.(1) Each annual report of a company GOC subsidiary (the "first 5
subsidiary") must-- 6
(a) contain the information that is required to be included in the report 7
by the shareholding Ministers of each shareholding GOC of the 8
first subsidiary to enable an informed assessment to be made of 9
the operations of the first subsidiary and its subsidiaries, 10
including a comparison of the performance of the first subsidiary 11
and its subsidiaries with each shareholding GOC's statement of 12
corporate intent to the extent it relates to the first subsidiary or its 13
subsidiaries; and 14
(b) state the first subsidiary's dividend policy for the financial year to 15
which the report relates; and 16
(c) include the statement of corporate intent of each shareholding 17
GOC of the first subsidiary for the relevant financial year to the 18
extent the statement relates to the first subsidiary or its 19
subsidiaries; and 20
(d) include particulars of any modifications made to the statement of 21
corporate intent during the relevant financial year to the extent the 22
modifications relate to the first subsidiary or its subsidiaries; and 23
(e) include particulars of any directions and notifications given to the 24
board of a shareholding GOC of the first subsidiary by the 25
shareholding GOC's shareholding Ministers that relate to the 26
relevant financial year to the extent the directions or notifications 27
23 Section 130 is not applied. The section applies to subsidiaries under its own
force.
78
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
concern the first subsidiary or its subsidiaries; and 1
(f) include particulars of the impact on the financial position, profits 2
and losses and prospects of the first subsidiary and its 3
subsidiaries of any modifications to a statement of corporate 4
intent, and any directions and notifications given to the board, of a 5
shareholding GOC of the first subsidiary by the shareholding 6
GOC's shareholding Ministers, that relate to the relevant financial 7
year to the extent the modifications, directions or notifications 8
relate to or concern the first subsidiary or its subsidiaries. 9
`(2) Each annual report of a company GOC subsidiary must also state 10
whether or not, in the directors' opinion, there are, when the statement is 11
made, reasonable grounds to believe that the subsidiary will be able to pay 12
its debts as and when they fall due. 13
`(3) Each annual report of a company GOC subsidiary must also include 14
the matters that are required to be included in, or to accompany, the 15
subsidiary's annual return under the Corporations Law. 16
`(4) This section does not limit the matters that are required to be 17
included in, or to accompany, a company GOC subsidiary's annual report 18
by the Corporations Law or another Act. 19
`Deletion of commercially sensitive matters from annual report etc. 20
`132.(1) If a company GOC subsidiary's board requests the 21
shareholding Ministers of each shareholding GOC of the subsidiary to 22
delete from the copies of an annual report of the subsidiary (and 23
accompanying documents) that are to be made public a matter that is of a 24
commercially sensitive nature, the shareholding Ministers may delete the 25
matter from the copies of the annual report (and accompanying documents) 26
that are laid before the Legislative Assembly or otherwise made public. 27
`(2) An annual report of a company GOC subsidiary may include a 28
summary of a matter required to be included in the annual report, rather 29
than a full statement of the matter, if-- 30
(a) the summary indicates that it is a summary only; and 31
79
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
(b) a full statement of the matter is laid before the Legislative 1
Assembly at the same time as a copy of the annual report is laid 2
before the Legislative Assembly. 3
`(3) Subsections (1) and (2) have effect despite section 131 or another 4
Act. 5
`(4) Subsection (1) has effect despite subsection (2). 6
`Board to keep shareholding Ministers informed 7
`133.(1) The board of a company GOC subsidiary (the "first 8
subsidiary") must-- 9
(a) keep each of the first subsidiary's shareholding GOCs 10
reasonably informed of the operations, financial performance and 11
financial position of the first subsidiary and its subsidiaries, 12
including the assets and liabilities, profits and losses and 13
prospects of the first subsidiary and its subsidiaries; and 14
(b) give to each shareholding GOC of the first subsidiary reports and 15
information that the GOC requires to enable it to make informed 16
assessments of matters mentioned in paragraph (a); and 17
(c) if matters arise that in the board's opinion may prevent, or 18
significantly affect, achievement of the objectives outlined in the 19
statement of corporate intent or targets under the corporate plan of 20
a shareholding GOC of the first subsidiary--immediately inform 21
the shareholding GOC of the matters and its opinion in relation to 22
them. 23
`(2) Subsection (1) does not limit the matters of which the board is 24
required to keep a shareholding GOC of a company GOC subsidiary 25
informed, or limit the reports or information that the board is required, or 26
may be required, to give to a shareholding GOC of a company GOC 27
subsidiary, by the Corporations Law or another Act. 28
80
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`PART 12--DUTIES AND LIABILITIES OF 1
DIRECTORS AND OTHER OFFICERS 2
`Division 1--Statutory GOCs (omitted) 3
`Division 2--Company GOCs (omitted) 4
`Division 3--GOCs generally 5
`Application of Corporations Law to officers of GOC subsidiaries 6
`146. (omitted)24 7
`Notice of suspected insolvency otherwise than because of direction or 8
notification 9
`147.(1) This section applies if-- 10
(a) under section 147 (as it applies to GOCs) the board of a 11
shareholding GOC of a company GOC subsidiary gives written 12
notice to the GOC's shareholding Ministers and the Auditor- 13
General of-- 14
(i) the board's suspicion that the GOC or the subsidiary is, 15
may be, will or may become insolvent; and 16
(ii) its reasons for the opinion; and 17
(b) under section 147(3) (as it applies to GOCs) the shareholding 18
Ministers give the GOC's board written directions the 19
shareholding Ministers consider necessary or desirable. 20
`(1A) The GOC must notify the subsidiary of the written directions 21
24 Section 146 is not applied. The section applies to subsidiaries under its own
force.
81
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
mentioned in paragraph (b). 1
`(2) (omitted) 2
`(3) (omitted) 3
`(4) (omitted) 4
`(5) The subsidiary's board must ensure that a direction under this 5
section is complied with in relation to the subsidiary. 6
`(6) (omitted) 7
`(7) (omitted) 8
`(8) (omitted) 9
`PART 13--LEGAL CAPACITY AND POWERS 10
`Division 1--Statutory GOCs (omitted) 11
`Division 2--Company GOC subsidiaries 12
`General powers of company GOC subsidiaries 13
`152.(1) A company GOC subsidiary has, in addition to powers 14
conferred on it by the Corporations Law-- 15
(a) the power to do all things necessary or convenient to be done for, 16
or in connection with, the performance of its functions; and 17
(b) the powers that are conferred on it by the applied provisions or 18
any Act. 19
`(2) Subsection (1) has effect subject to any restrictions on the 20
subsidiary's powers expressly imposed by the applied provisions or any 21
Act. 22
82
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Doctrine of ultra vires etc. not revived 1
`153.(1) The doctrine of ultra vires is not revived in relation to a 2
company GOC subsidiary by the applied provisions. 3
`(2) The abolition of the doctrine by the Corporations Law is not affected 4
by applied provisions. 5
`(3) This section is included for the removal of doubt. 6
`Division 3--GOC may direct subsidiaries (omitted) 7
`PART 14--FINANCE (omitted)25 8
`PART 15--ACQUISITION AND DISPOSAL OF 9
ASSETS AND SUBSIDIARIES 10
`Reserve power of shareholding Ministers to direct that asset not be 11
disposed of 12
`161.(1) This section applies if, under section 161 (as it applies to 13
GOCs), the shareholding Ministers of a shareholding GOC of a company 14
GOC subsidiary give the GOC's board a written direction requiring the 15
subsidiary not to dispose of a specified asset. 16
`(1A) The GOC must notify the subsidiary of the direction. 17
`(2) The subsidiary's board must ensure the direction is complied with 18
in relation to the subsidiary. 19
`(3) (omitted) 20
25 Part 14 is not applied. The part applies to subsidiaries under its own force.
83
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Disposal of main undertakings 1
`162. (omitted)26 2
`Acquiring and disposing of subsidiaries 3
`163. (omitted)27 4
`PART 15A--GOCs AND GOC SUBSIDIARIES 5
BECOMING AND RETIRING AS TRUSTEES 6
(omitted)28 7
`PART 16--EMPLOYEES (omitted)29 8
`PART 17--OTHER MATTERS 9
`Division 1--GOCs generally (omitted)30 10
`Division 2--Statutory GOCs (omitted) 11
26 Section 162 is not applied. The section applies to subsidiaries under its own
force.
27 Section 163 is not applied. The section applies to subsidiaries under its own
force.
28 Part 15A is not applied. The part applies to subsidiaries under its own force.
29 Part 16 is not applied. The part applies to subsidiaries under section 164 (Part
applies to subsidiaries) of the Act.
30 Section 177 provides for the application of chapter 3 of the Act with the changes
in this schedule to certain company GOC subsidiaries.
84
Government Owned Corporations and Other
Legislation Amendment
SCHEDULE 1 (continued)
`Division 3--Company GOC subsidiaries 1
`Application of Criminal Justice Act 2
`183. A company GOC subsidiary is not a unit of public administration 3
for the purposes of the Criminal Justice Act 1989. 4
`Application of Parliamentary Commissioner Act 1974 5
`184. The Parliamentary Commissioner Act 1974 does not apply to a 6
company GOC subsidiary.'. 7
8
85
Government Owned Corporations and Other
Legislation Amendment
CHEDULE 2 1
¡S
INOR AMENDMENTS 2
M
section 40 3
OVERNMENT LOANS REDEMPTION AND 4
´G
CONVERSION ACT 1923 5
1. Section 2, definition "inscribed stock", `and'-- 6
omit. 7
QUEENSLAND TREASURY CORPORATION 8
´
ACT 1988 9
1. Section 4-- 10
insert-- 11
` "chief executive" means the chief executive of the department.'. 12
13
© State of Queensland 1998
[Index] [Search] [Download] [Related Items] [Help]