Commonwealth Numbered Acts

AUSTRALIAN NATIONAL RAILWAYS COMMISSION ACT 1983 No. 140 of 1983 - SECT 57

57. (1) Before the expiration of the period of 4 months after the end of each
financial year, the Commission shall, by notice in writing to the Minister,
recommend -

   (a)  that the Commission pay a dividend, of a specified amount, to the
Commonwealth for the financial year; or

   (b)  that the Commission not pay a dividend to the Commonwealth for the
financial year.

(2) In making its recommendation under sub-section (1), the Commission shall
have regard to -

   (a)  the need to ensure that the Commonwealth receives a reasonable return
        on the capital of the Commission that was employed in the Commission's
        operations in the financial year; and

   (b)  such other commercial matters as the Commission considers relevant.

(3) Before the expiration of the period of 60 days after receipt by him of
notice under sub-section (1) of the recommendation made by the Commission
under that sub-section in relation to the financial year, the Minister shall,
by notice in writing to the Commission -

   (a)  where the recommendation is that the Commission pay a dividend to the
        Commonwealth for the financial year -

        (i)    approve the recommendation; or

        (ii)   direct the Commission to pay a dividend, of a different
specified amount, to the Commonwealth for the financial year;
or

   (b)  where the recommendation is that the Commission not pay a dividend to
        the Commonwealth for the financial year -

        (i)    approve the recommendation; or

        (ii)   direct the Commission to pay a dividend, of a specified amount,
to the Commonwealth for the financial year.

(4) Where the Minister gives the Commission a direction under sub-paragraph
(3) (a) (ii) or (b) (ii), he shall inform the Commission, by notice in
writing, of the reasons for the direction.

(5) Where -

   (a)  the Minister, under sub-paragraph (3) (a) (i), approves a
        recommendation that the Commission pay a dividend, of a specified
        amount, to the Commonwealth for the financial year; or

   (b)  the Minister, under sub-paragraph (3) (a) (ii) or (b) (ii), directs
        the Commission to pay a dividend, of a specified amount, to the
        Commonwealth for the financial year, the Commission shall, before the
        expiration of the period of 8 months after the end of the
        financial year or within such further time as the Minister allows by
        instrument in writing, pay a dividend, of the specified amount, to the
        Commonwealth.

(6) A payment by the Commission of a dividend to the Commonwealth may be made
-

   (a)  out of the profits of the Commission for the financial year to which
        the
dividend relates;

   (b)  out of the profits of the Commission for any preceding financial year;
or

   (c)  partly out of the profits of the Commission for the financial year to
which the dividend relates and partly out of the profits of the
Commission for any preceding financial year.