Commonwealth Consolidated Acts Commonwealth Consolidated Acts110. After section 39H of the Principal Act the following sections are
Register of Commercial Government Bodies
(Register to be kept by Board)
"39HA.(l) The Board must keep a register, to be known as the Register of
Commercial Government Bodies, listing such eligible government bodies as are
required to be on the register because of this Part.
(Register to be open for inspection)
"(2) The Board must cause the Register of Commercial Government Bodies to be
made available for inspection at any reasonable time by any person on request.
Commercial government bodies guidelines
(Board to make guidelines setting out criteria for entry on Register)
"39HB.( l) The Board must, as soon as practicable (and, in any event, within
90 days) afier the commencement of this section, formulate written guidelines
('commercial government bodies guidelines') setting out criteria to be met by
eligible government bodies wishing to be entered on the Register of Commercial
(Guidelines to be published etc.)
"(2) The Board must cause the commercial government bodies guidelines to
(a) published in the Gazette; and
(b) made available, without charge, to any interested person.
(Matters to be taken into account in making guidelines) "(3) In making
commercial government bodies guidelines about a particular kind of eligible
government body, the matters to which the Board is to have regard include, but
(a) the commercial environment in which the eligible government body
(b) whether there is a framework for the oversight of the operations, and
the monitoring of the performance, of the eligible government body and, if so,
the nature of that framework; and
(c) the extent to which the eligible government body is:
(i) bound by regulatory laws of the Commonwealth, the States and
(ii) subject to taxation and charges under the laws of the
Commonwealth, the States and the Territories; and
(d) the extent of private sector equity investment (whether direct or
indirect through one or more interposed companies, partnerships or trusts) in
the eligible government body; and
(e) if the eligible governmen body is established by or under a law of the
Commonwealth, a State or a Territory-the policies of the Commonwealth, the
State or the Territory, as the case requires, regarding the issue of the
extent to which the eligible government body should be treated as a fully
(Tax-exempt bodies ineligible for entry on Register)
"(4) The commercial government bodies guidelines must set out a criterion to
the effect that an eligible government body will not be entered on the
Register of Commercial Government Bodies with effect on a particular day if,
assuming that the body had derived income on that day, that income would have
been exempt from income tax because of a relevant exempting provision (within
the meaning of section l 60K of the Income Tax Assessment Act 1936).
(Guidelines to be disallowable)
"(5) An instrument formulating commercial government bodies guidelines is a
disallowable instrument for the purposes of section 46A of the Acts
Applications for entry on the Register of Commercial Government Bodies
"39HC.(1) An eligible government body may apply to the Board to be entered
on the Register of Commercial Government Bodies.
(b) in a form approved by the Board; and
(c) accompanied by such information as the Board requires.
Board's decision on application for entry on Register of Commercial Government
(Board's decision on application)
"39HD.(1) After considering an application under section 39HC, the Board
(Board deemed to have refused application if no decision made within 90 days)
"(2) If the Board has not made a decision under subsection (1) before
whichever time ('eligible time') is the later of the following times:
(a) the end of the period ('original 90-day period') of 90 days after the
day on which the application was received by the Board;
(b) if the Board, by written notice given to the applicant within the
original 90-day period, requests the applicant to give further information
about the application-the end of the period of 90 days after the Board
receives the further information;then, at the eligible time, the Board is
taken to have made a decision under subsection (l) to refuse the application.
"(3) If the Board makes a decision under subsection (l) before the eligible
time, the Board must give written notice of the decision to the applicant.
(Reasons for refusal to be given)
"(4) A notice under subsection (3) relating to a refusal must set out the
"(5) If the Board decides to grant the application, the entry of the
eligible government body takes effect on:
(a) the day ofiwhich the decision is made; or
(b) if the applicant requests-such earlier date as the Board specifies.
(Entry may take effect on a date earlier than commencement of this section)
"(6) The Board may specify a date under paragraph (5)(b) that is earlier
than the commencement of this section.
(Back-dated entries-Register taken to have been in existence)
"(7) If the Board specifies such an earlier date, this Part and section 73CB
of the Income Tax Assessment Act 1936 have effect as if the Register of
Commercial Government Bodies had been in existence on that date.
Grant of application for entry on Register of Commercial Government Bodies
"39HE. The Board must not grant an application under section 39HC unless the
Board is satisfied that the applicant meets the criteria set out in the
commercial government bodies guidelines.
Removal from Register of Commercial Government Bodies
(Removal of body which does not meet criteria set out in guidelines)
"39HF.(l) The Board must remove an eligible government body from the
Register of Commercial Government Bodies if the Board is satisfied that the
body does not meet the criteria set out in the commercial government bodies
(Notification of proposed removal)
"(2) The Board must not remove an eligible government body from the Register
of Commercial Government Bodies unless the Board has:
(a) given a written notice to the body:
(i) stating that the Board is considering removing the body from
the Register of Commercial Government Bodies; and
(ii) giving the reasons for considering the removal of the body;
(b) invited the body to make a written submission to the Board:
(i) within 60 days of receiving the notice; and
(ii) about the proposed removal; and
(c) if such a submission is made within that period-had regard to the
matters raised in the submission.
"(3) If the Board decides to remove the body from the Register of Commercial
Government Bodies, the removal takes effect on the day on which the notice
mentioned in paragraph (2)(a) was given to the body.
"(4) If the Board decides to remove the body from the Register of Commercial
Government Bodies, the Board must give written notice of the removal to the