Commonwealth Consolidated Acts

COMMONWEALTH AUTHORITIES AND COMPANIES ACT 1997

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

   1.      Short title [see Note 1]  
   2.      Commencement [see Note 1]  
   3.      This Act binds the Crown  
   4.      This Act extends to things outside Australia  

   PART 2--GENERAL PROVISIONS ABOUT DEFINITIONS, OFFENCES AND CIVIL PENALTIES

   5.      Definitions  
   6.      Civil penalties  

   PART 3--REPORTING AND OTHER OBLIGATIONS FOR COMMONWEALTH AUTHORITIES

           Division 1--Preliminary

   7.      Meaning of Commonwealth authority  
   8.      Role of Auditor-General  

           Division 2--Reporting obligations

              Subdivision A--Annual report and related obligations

   9.      Directors must prepare annual report  
   10.     Modified requirements for first year of existence  
   11.     Contravention of annual report rules by directors  
   12.     Audit of relevant subsidiary's financial statements  

              Subdivision B--Other reporting obligations

   13.     Interim reports  
   14.     Estimates  
   15.     Responsible Minister to be notified of significant events  
   16.     Keeping responsible Minister and Finance Minister informed  
   17.     Corporate plan for GBE  

           Division 3--Banking, investment etc

   18.     Banking and investment (authorities other than GBEs and SMAs)  
   19.     Banking and investment (GBEs and SMAs)  
   20.     Accounting records  

           Division 4--Conduct of officers

   21.     Background to duties of directors, other officers and employees  

              Subdivision A--General duties

   22.     Care and diligence--civil obligation only  
   23.     Good faith--civil obligations  
   24.     Use of position--civil obligations  
   25.     Use of information--civil obligations  
   26.     Good faith, use of position and use of information--criminal offences  
   27A.    Compliance with statutory and other duties  
   27B.    Interaction of sections 22 to 26 with other laws etc.  
   27C.    Disqualification order for contravention of civil penalty provision  
   27D.    Reliance on information or advice provided by others  
   27E.    Responsibility for actions of delegate  

              Subdivision B--Disclosure of, and voting on matters involving, material personal interests

   27F.    Material personal interest--director's duty to disclose  
   27G.    Director may give other directors standing notice about an interest  
   27H.    Interaction of sections 27F and 27G with other laws etc.  
   27J.    Restrictions on voting  
   27K.    Minister's power to make declarations and class orders  
   27L.    Right of access to authority's books  

           Division 4A--Restrictions on indemnities and insurance for officers

   27M.    Indemnification and exemption of officer  
   27N.    Insurance for certain liabilities of officers  
   27P.    Certain indemnities, exemptions, payments and agreements not authorised and certain documents void  

           Division 5--Miscellaneous

   28.     Compliance with General Policy Orders  
   28A.    Credit cards and credit vouchers  
   29.     Activities of subsidiaries  
   30.     Aligning accounting periods of subsidiaries  
   31.     Exemption from requirement to align accounting periods of subsidiaries  
   32.     Audit committee  
   33.     Special rules for Commonwealth authorities established by regulations etc.  

   PART 4--REPORTING AND OTHER OBLIGATIONS FOR COMMONWEALTH COMPANIES

           Division 1--Preliminary

   34.     Meaning of Commonwealth company, wholly-owned Commonwealth company and related terms  
   35.     Role of Auditor-General  

           Division 2--Reporting obligations

              Subdivision A--Annual report and related obligations

   36.     Annual Report  
   37.     Audit of relevant subsidiary's financial statements  

              Subdivision B--Other reporting obligations

   38.     Interim reports  
   39.     Estimates  
   40.     Responsible Minister to be notified of significant events  
   41.     Keeping responsible Minister and Finance Minister informed  
   42.     Corporate plan for GBE  

              Subdivision C--Miscellaneous

   43.     Compliance with General Policy Orders  
   44.     Audit committee  

   PART 5--MISCELLANEOUS

   45.     Ministers must inform Parliament of share acquisitions etc.  
   46.     Companies conducted for the purposes of intelligence or security agencies  
   47.     Regulations may deal with how this Act applies if body stops being a Commonwealth authority  
   47A.    Compliance with government procurement requirements  
   48.     Finance Minister's Orders  
   48A.    General Policy Orders  
   49.     Regulations  
           SCHEDULE 1 Annual report for Commonwealth Authority
           SCHEDULE 2 Civil consequences of contravening civil penalty provisions
           SCHEDULE 3 Application, transitional and savings provisions