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This is a Bill, not an Act. For current law, see the Acts databases.
New South Wales
Landcom Corporation Bill 2001
Contents
Page
Part 1 Preliminary
1 Name of Act 2
2 Commencement 2
3 Definitions 2
4 Notes 2
Part 2 Landcom
5 Establishment of Landcom as statutory SOC 3
6 Principal objectives of Corporation 3
7 Functions of Corporation 4
8 Board of directors 4
9 Chief executive officer 5
10 Acting chief executive officer 5
Part 3 Accountability
11 Statement of priorities to be provided by portfolio Minister 7
12 Implementation of statement of priorities 7
Landcom Corporation Bill 2001
Contents
Page
13 Modification or revocation of acceptance of priorities 8
14 Acquisition and disposal of real property assets 9
Part 4 Miscellaneous
15 Application of State Owned Corporations Act 1989 11
16 Transfer of specified assets, rights and liabilities 11
17 Transfer of staff 11
18 Regulations 11
19 Consequential amendments 11
20 Savings, transitional and other provisions 11
21 Review of Act 12
Schedules
1 Transfer of assets, rights and liabilities 13
2 Transfer of staff 16
3 Consequential amendments 18
4 Savings, transitional and other provisions 21
Contents page 2
I certify that this PUBLIC BILL, which originated in the LEGISLATIVE ASSEMBLY, has
finally passed the LEGISLATIVE COUNCIL and the LEGISLATIVE ASSEMBLY of NEW
SOUTH WALES.
Clerk of the Legislative Assembly.
Legislative Assembly,
Sydney, , 2001
New South Wales
Landcom Corporation Bill 2001
Act No , 2001
An Act to establish Landcom as a statutory State owned corporation to exercise
certain functions relating to development; to make consequential amendments to
other Acts; and for other purposes.
I have examined this Bill, and find it to correspond in all respects with the Bill as
finally passed by both Houses.
Chairman of Committees of the Legislative Assembly.
Clause 1 Landcom Corporation Bill 2001
Part 1 Preliminary
The Legislature of New South Wales enacts:
Part 1 Preliminary
1 Name of Act
This Act is the Landcom Corporation Act 2001.
2 Commencement
This Act commences on a day or days to be appointed by
proclamation.
3 Definitions
(1) In this Act:
assets means any legal or equitable estate or interest (whether present
or future and whether vested or contingent) in real or personal
property of any description (including money), and includes securities,
choses in action and documents.
Corporation means the statutory State owned corporation constituted
by this Act.
exercise a function includes perform a duty.
function includes a power, authority or duty.
liabilities means any liabilities, debts or obligations (whether present
or future and whether vested or contingent).
Ministerial Development Corporation means the Ministerial
Development Corporation constituted by the Growth Centres
(Development Corporations) Act 1974.
rights means any rights, powers, privileges or immunities (whether
present or future and whether vested or contingent).
urban development includes the expansion, establishment and re-
development of urban areas.
(2) Words and expressions used in this Act and also the State Owned
Corporations Act 1989 have the same meanings in this Act as they
have in that Act.
4 Notes
Notes included in this Act do not form part of this Act.
Page 2
Landcom Corporation Bill 2001 Clause 5
Landcom Part 2
Part 2 Landcom
5 Establishment of Landcom as statutory SOC
(1) There is constituted by this Act a corporation with the corporate name
of Landcom.
(2) The State Owned Corporations Act 1989 is amended by inserting in
Schedule 5, in alphabetical order, the word "Landcom".
6 Principal objectives of Corporation
(1) The principal objectives of the Corporation are as follows:
(a) to be a successful business and, to this end:
(i) to operate at least as efficiently as any comparable
businesses, and
(ii) to maximise the net worth of the State's investment in
it,
(b) to exhibit a sense of social responsibility by having regard to
the interests of the community in which it operates,
(c) to protect the environment by conducting its operations in
compliance with the principles of ecologically sustainable
development contained in section 6 (2) of the Protection of the
Environment Administration Act 1991,
(d) to exhibit a sense of responsibility towards regional
development and decentralisation in the way in which it
operates,
(e) to undertake, or assist the Government in undertaking, strategic
or complex urban development projects,
(f) to assist the Government in achieving its urban management
objectives,
(g) to be a responsible developer of residential, commercial and
industrial land.
(2) Each of the principal objectives of the Corporation is of equal
importance.
(3) The provisions of section 20E of the State Owned Corporations Act
1989 do not apply to the Corporation.
Page 3
Clause 7 Landcom Corporation Bill 2001
Part 2 Landcom
7 Functions of Corporation
(1) The Corporation has the functions conferred or imposed on it by or
under this or any other Act or law.
(2) The principal functions of the Corporation are:
(a) to undertake and participate in residential, commercial,
industrial and mixed development projects, and
(b) to provide advice and services related to urban development, on
a commercial basis, to government agencies and others.
(3) Subsection (2) (b) does not affect the functions of the board of the
Corporation under section 29 of the State Owned Corporations Act
1989.
(4) The Corporation may also:
(a) provide facilities or services that are ancillary or incidental to
its principal functions, and
(b) conduct any business or provide any service (whether or not
related to its principal functions) that it considers will further its
objectives.
8 Board of directors
(1) The Corporation is to have a board of directors.
(2) The board is to consist of 7 directors appointed by the Governor on the
recommendation of the voting shareholders.
(3) The voting shareholders are to consult with the portfolio Minister
before recommending any person for appointment as a director.
(4) The chief executive officer may be appointed as a director.
(5) The board is accountable to the voting shareholders in the manner set
out in Part 4 of the State Owned Corporations Act 1989 and in the
constitution of the Corporation.
(6) The Public Sector Management Act 1988 (Part 8 included) does not
apply to the directors of the Corporation.
(7) Schedule 8 to the State Owned Corporations Act 1989 has effect with
respect to the constitution and procedure of the board, subject to
subsection (8).
Page 4
Landcom Corporation Bill 2001 Clause 8
Landcom Part 2
(8) The provisions of section 20J of the State Owned Corporations Act
1989, and of clauses 4 and 9 (1) of Schedule 8 to that Act, do not
apply to the Corporation.
9 Chief executive officer
(1) The chief executive officer of the Corporation is to be appointed by the
board after consultation with the voting shareholders and the portfolio
Minister.
(2) The board may remove a person from office as chief executive officer,
at any time, for any or no reason and without notice, but only after
consultation with the voting shareholders and the portfolio Minister.
(3) The chief executive officer is entitled to be paid such remuneration
(including travelling and subsistence allowances) as the board may
determine after consultation with the voting shareholders.
(4) The board may, after consultation with the voting shareholders, fix the
conditions of employment of the chief executive officer in so far as
they are not fixed by or under any other Act or law.
(5) The chief executive officer may delegate any functions of the chief
executive officer to an employee of the Corporation, but this power is
subject to any directions of the board.
(6) The Public Sector Management Act 1988 (Part 8 included) does not
apply to the chief executive officer.
(7) Schedule 9 to the State Owned Corporations Act 1989 has effect with
respect to the chief executive officer, subject to subsection (8).
(8) The provisions of section 20K of the State Owned Corporations Act
1989, and of clauses 2, 3 and 6 of Schedule 9 to that Act, do not apply
to the chief executive officer.
10 Acting chief executive officer
(1) The board may, from time to time, appoint a person to act in the office
of chief executive officer during the illness or absence of the chief
executive officer.
(2) The board may remove a person from office as acting chief executive
officer, at any time, for any or no reason and without notice.
(3) A person, while acting in the office of chief executive officer:
Page 5
Clause 10 Landcom Corporation Bill 2001
Part 2 Landcom
(a) has all the functions of the chief executive officer and is taken
to be the chief executive officer, and
(b) is entitled to be paid such remuneration (including travelling
and subsistence allowances) as the board may determine after
consultation with the voting shareholders.
(4) For the purposes of this section, a vacancy in the office of a chief
executive officer is regarded as an absence from office.
(5) Clause 5 of Schedule 9 to the State Owned Corporations Act 1989
does not apply to an acting chief executive officer of the Corporation.
Page 6
Landcom Corporation Bill 2001 Clause 11
Accountability Part 3
Part 3 Accountability
11 Statement of priorities to be provided by portfolio Minister
(1) The portfolio Minister may provide to the board of the Corporation,
from time to time, a written statement of priorities for the Corporation
and its subsidiaries (if any).
(2) A statement of priorities is to specify, in respect of any specified
financial year or years:
(a) the urban management priorities for the Corporation and its
subsidiaries, expressed in broad terms, as proposed by the
portfolio Minister, and
(b) the projects, activities or outcomes to be undertaken or
achieved by the Corporation as proposed by the portfolio
Minister.
(3) The portfolio Minister must provide the statement of priorities to the
board no less than 2 months before the commencement of:
(a) the financial year to which the statement of priorities relates, or
(b) if the statement of priorities relates to more than one financial
year, the first of those financial years.
(4) Section 12 does not apply in respect of a statement of priorities unless
it is provided to the board of the Corporation within the time required
by subsection (3).
12 Implementation of statement of priorities
(1) The board of the Corporation may decide to accept the statement of
priorities provided by the portfolio Minister, but only with the approval
of the voting shareholders.
(2) A decision to accept the statement of priorities may be made subject
to such conditions or modifications to the statement as are agreed
between the board and the voting shareholders.
(3) A decision not to accept the statement of priorities may be made by the
board only with the approval of the voting shareholders.
(4) If a decision is made not to accept the statement of priorities provided
by the portfolio Minister, or to accept the statement subject to
conditions or modifications, the voting shareholders must notify the
portfolio Minister of that decision and the reasons for it.
Page 7
Clause 12 Landcom Corporation Bill 2001
Part 3 Accountability
(5) In preparing a statement of corporate intent under section 21 of the
State Owned Corporations Act 1989 for any period to which a
statement of priorities relates, the board is to have regard to the
statement of priorities, to the extent to which that statement has been
accepted by the board.
(6) A copy of the statement of priorities is to be attached to the completed
statement of corporate intent when it is laid before each House of
Parliament under section 26 of the State Owned Corporations Act
1989, together with a copy of a statement prepared by the board that
indicates:
(a) whether the statement of priorities has been accepted by the
board, and
(b) any conditions or modifications to which that acceptance is
subject.
(7) The board is to provide to the portfolio Minister, within 6 months after
the end of each financial year in respect of which a statement of
priorities has been provided to the board, a report that:
(a) identifies the extent to which the priorities, projects, activities
or outcomes set out in the statement of priorities, to the extent
accepted by the board, have been undertaken or achieved by the
Corporation in the financial year, and
(b) sets out the reasons for any failure to undertake or achieve
those accepted priorities, projects, activities or outcomes.
13 Modification or revocation of acceptance of priorities
(1) The board of the Corporation may at any time revoke or modify its
acceptance of a statement of priorities provided by the portfolio
Minister, but only with the approval of the voting shareholders.
(2) If a decision is made by the board to revoke or modify its acceptance
of a statement of priorities, the voting shareholders are to notify the
portfolio Minister of that decision and the reasons for it.
(3) A Minister is required to lay, or cause to be laid, before each House of
Parliament a copy of a statement prepared by the board indicating the
effect of the revocation or modification within 14 sitting days after the
revocation or modification is made.
Page 8
Landcom Corporation Bill 2001 Clause 14
Accountability Part 3
14 Environmental reporting indicators
(1) The portfolio Minister is from time to time to adopt environmental
reporting indicators, including environmentally sustainable
development indicators, for use by the Corporation.
(2) The indicators must include a methodology for making comparisons
to international best practice in environmentally sustainable residential,
commercial and industrial development.
(3) Before adopting any environmental reporting indicators, the portfolio
Minister:
(a) must cause notice of the proposed indicators to be published in
a daily newspaper circulating throughout the State, and
(b) must cause copies of the proposed indicators to be made
available for public inspection on the Corporation's website and
at each of the offices of the Corporation, and
(c) must allow a period of at least 30 days for members of the
public to send written comments to the portfolio Minister in
relation to the proposed indicators, and
(d) must take any such comments into consideration.
(4) The Corporation must monitor its activities against the environmental
reporting indicators and must compile data on those indicators.
(5) The Corporation is to publish an annual report that sets out the results
of the monitoring referred to in subsection (4).
(6) Copies of the report are to be made available for public inspection on
the Corporation's website and at each of the offices of the
Corporation.
15 Acquisition and disposal of real property assets
(1) The Corporation or any of its subsidiaries may not acquire or dispose
of any real property asset that has a value exceeding $30 million, or
such alternative amount (if any) as is specified in the most recent
statement of corporate intent of the Corporation, without the prior
written approval of the voting shareholders.
(2) For the purposes of subsection (1):
(a) the value of any real property asset to be acquired is the cost
price of the asset, and
Page 9
Clause 14 Landcom Corporation Bill 2001
Part 3 Accountability
(b) the value of any real property asset to be disposed of is the
book value or the consideration for the disposal, whichever is
the greater.
(3) In seeking the approval of the voting shareholders under this section,
the Corporation or subsidiary is required to provide the voting
shareholders with such information as they require, including such
kinds of information (if any) as are prescribed by the regulations under
this Act.
(4) The voting shareholders may, by written notice, direct the Corporation
or its subsidiaries not to dispose of any specified real property asset.
(5) The requirements of subsection (1) do not apply in the following
circumstances:
(a) if the acquisition or disposal is expressly authorised by the most
recent statement of corporate intent of the Corporation,
(b) in such circumstances as may be specified in a written notice
given to the Corporation or a subsidiary of the Corporation by
the Treasurer.
(6) The Treasurer may not give such a notice unless satisfied that the
requirements are incapable of application to the Corporation or
subsidiary in the circumstances or would apply to it in a clearly
inappropriate manner.
(7) The Corporation or any of its subsidiaries may not acquire or dispose
of any real property asset in contravention of any requirements of the
regulations under this Act.
(8) Section 20X of the State Owned Corporations Act 1989, in its
application to the Corporation, does not apply in respect of any real
property asset.
Note. Section 20X of the State Owned Corporations Act 1989 provides for
restrictions on the acquisition and disposal of fixed assets and investments and
liabilities by a statutory state owned corporation.
(9) In this section:
real property asset means any inventory asset that comprises a legal or
equitable estate or interest in real property.
Page 10
Landcom Corporation Bill 2001 Clause 15
Miscellaneous Part 4
Part 4 Miscellaneous
16 Application of State Owned Corporations Act 1989
The provisions of this Act are in addition to and (except to the extent
to which this Act provides) do not derogate from the provisions of the
State Owned Corporations Act 1989.
17 Transfer of specified assets, rights and liabilities
(1) The Minister may, by order in writing, transfer to the Corporation such
of the assets, rights and liabilities of the following corporations as are
specified or referred to in the order:
(a) the New South Wales Land and Housing Corporation,
(b) the Ministerial Development Corporation.
(2) Such an order may be made on such terms and conditions as are
specified in the order.
(3) Schedule 1 applies to a transfer under this section.
18 Transfer of staff
Schedule 2 has effect.
19 Regulations
The Governor may make regulations, not inconsistent with this Act, for
or with respect to any matter that by this Act is required or permitted
to be prescribed or that is necessary or convenient to be prescribed for
carrying out or giving effect to this Act.
20 Consequential amendments
Each Act specified in Schedule 3 is amended as set out in that
Schedule.
21 Savings, transitional and other provisions
Schedule 4 has effect.
Page 11
Clause 21 Landcom Corporation Bill 2001
Part 4 Miscellaneous
22 Review of Act
(1) The Minister is to review this Act to determine whether the policy
objectives of the Act remain valid and whether the terms of the Act
remain appropriate for securing those objectives.
(2) The Minister is to make arrangements for public comment on the
Act and consider those comments as part of the review.
(3) The review is to be undertaken as soon as possible after the period of
5 years from the date of assent to this Act.
(4) A report on the outcome of the review is to be tabled in each House of
Parliament within 12 months after the end of the period of 5 years.
Page 12
Landcom Corporation Bill 2001
Transfer of assets, rights and liabilities Schedule 1
Schedule 1 Transfer of assets, rights and liabilities
(Section 17 (3))
1 Application and interpretation
(1) This Schedule applies to any transfer of assets, rights or liabilities
under section 17.
(2) In this Schedule, the person or body from which any assets, rights or
liabilities are transferred is called the transferor and the person or
body to which they are transferred is called the transferee.
2 Vesting of undertaking in transferee
(1) When any assets, rights or liabilities are transferred by a transfer to
which this Schedule applies, the following provisions have effect:
(a) the assets of the transferor vest in the transferee by virtue of this
clause and without the need for any further conveyance,
transfer, assignment or assurance,
(b) the rights or liabilities of the transferor become by virtue of this
clause the rights or liabilities of the transferee,
(c) all proceedings relating to the assets, rights or liabilities
commenced before the transfer by or against the transferor or
a predecessor of the transferor and pending immediately before
the transfer are taken to be proceedings pending by or against
the transferee,
(d) any act, matter or thing done or omitted to be done in relation
to the assets, rights or liabilities before the transfer by, to or in
respect of the transferor or a predecessor of the transferor is (to
the extent to which that act, matter or thing has any force or
effect) taken to have been done or omitted by, to or in respect
of the transferee,
(e) a reference in any Act, in any instrument made under any Act
or in any document of any kind to:
(i) the transferor, or
(ii) any predecessor of the transferor, or
(iii) the NSW Land and Housing Corporation (Landcom), or
(iv) the Business Land Group, or
Page 13
Landcom Corporation Bill 2001
Schedule 1 Transfer of assets, rights and liabilities
(v) Landcom,
to the extent to which the reference relates to those assets,
rights or liabilities, is taken to be, or include, a reference to the
transferee.
(2) The operation of this clause is not to be regarded:
(a) as a breach of contract or confidence or otherwise as a civil
wrong, or
(b) as a breach of any contractual provision prohibiting, restricting
or regulating the assignment or transfer of assets, rights or
liabilities, or
(c) as giving rise to any remedy by a party to an instrument, or as
causing or permitting the termination of any instrument,
because of a change in the beneficial or legal ownership of any
asset, right or liability, or
(d) as an event of default under any contract or other instrument.
(3) No attornment to the transferee by a lessee from the transferor is
required.
(4) A transfer is subject to the terms and conditions of the order by which
it is effected.
(5) No compensation is payable to any person or body in connection with
a transfer to which this Schedule applies except to the extent (if any)
to which the order giving rise to the transfer so provides.
3 Date of vesting
An order under section 17 takes effect on the date specified in the
order.
4 Consideration for vesting
The Minister may, by order in writing, specify the consideration on
which a transfer to which this Schedule applies is made and the value
or values at which the assets, rights or liabilities are transferred.
5 State taxes not chargeable
State tax is not chargeable in respect of:
(a) a transfer to which this Schedule applies, or
Page 14
Landcom Corporation Bill 2001
Transfer of assets, rights and liabilities Schedule 1
(b) anything certified by the Minister as having been done in
consequence of such a transfer (for example, the transfer or
conveyance of an interest in land).
6 Confirmation of vesting
(1) The Minister may, by notice in writing, confirm a transfer of particular
assets, rights or liabilities by operation of this Schedule.
(2) Such a notice is conclusive evidence of that transfer.
Page 15
Landcom Corporation Bill 2001
Schedule 2 Transfer of staff
Schedule 2 Transfer of staff
(Section 18)
1 Transfer of DUAP staff to Landcom
(1) The Minister may, by order in writing, transfer such of the staff of the
Department of Urban Affairs and Planning as are specified or referred
to in the order to the Corporation.
(2) The members of staff of the Department of Urban Affairs and
Planning who are transferred to the Corporation by such an order are
to be regarded for all purposes as having become employees of the
Corporation, in accordance with the terms of the order, on a day
specified in the order as being the day on which the transfer takes
effect.
2 General saving of conditions of employment
(1) A person who is transferred under this Schedule is (until other
provision is duly made under any Act or law) to be employed in
accordance with any relevant statutory provisions, awards, agreements
and determinations that would have applied to the person if the person
had not been transferred but had instead remained as a member of the
staff of the Department of Urban Affairs and Planning.
(2) However, nothing in this clause affects the application of section 36
(1) of the State Owned Corporations Act 1989 to the Corporation.
Accordingly, the Government and Related Employees Appeal Tribunal
Act 1980 does not apply to the Corporation or any subsidiary of the
Corporation.
3 Saving of leave
A member of staff of the Department of Urban Affairs and Planning
who is transferred under this Schedule retains any rights to annual
leave, extended service leave, sick leave, and other forms of leave,
accrued or accruing in his or her employment with the Department of
Urban Affairs and Planning.
Page 16
Landcom Corporation Bill 2001
Transfer of staff Schedule 2
4 No payment out on transfer or dual benefits
(1) A member of staff of the Department of Urban Affairs and Planning
who is transferred under this Schedule is not entitled to receive any
payment or other benefit merely because the person ceases to be a
member of staff of the Department of Urban Affairs and Planning.
(2) A person who is transferred under this Schedule is not entitled to
claim, both under this Act and under any other Act, dual benefits of the
same kind for the same period of service.
Page 17
Landcom Corporation Bill 2001
Schedule 3 Consequential amendments
Schedule 3 Consequential amendments
(Section 20)
3.1 First State Superannuation Act 1992 No 100
Schedule 1 Employers
Insert "Landcom" at the end of Part 1.
3.2 Housing Act 2001 No 52
[1] Section 5 Objects of Act
Omit section 5 (1) (f), (j) and (k).
[2] Section 6 Establishment of New South Wales Land and Housing
Corporation
Omit section 6 (6).
[3] Section 8 Functions of Corporation relating to land and housing
Omit the definition of urban development from section 8 (1). Insert instead:
residential development includes the expansion, establishment
and re-development of residential areas.
[4] Section 8 (2) (a) and (b)
Omit "urban development" wherever occurring.
Insert instead "residential development".
[5] Section 8 (2) (c) and (d)
Omit the paragraphs.
Page 18
Landcom Corporation Bill 2001
Consequential amendments Schedule 3
[6] Section 8 (3)
Omit the subsection.
[7] Section 11 Consultation and negotiation
Omit section 11 (2).
[8] Section 22 Acquisition of land
Insert at the end of the section:
(2) Without limiting subsection (1), land may be acquired by the
Corporation under subsection (1) for the purposes of the Crown
Lands Homesites Program or any other policy or program of
the Government relating to residential development (within the
meaning of section 8). Any land so acquired may be transferred
to any person or body responsible for administering the relevant
program or policy.
3.3 Public Sector Management Act 1988 No 33
Schedule 3B Senior executive positions
Omit the following items from the matter relating to the Department of
Urban Affairs and Planning:
Chief General Manager, Landcom
General Manager, Urban Renewal
General Manager, Urban Development
General Manager, Finance and Corporate
General Manager, Marketing and Sales
Page 19
Landcom Corporation Bill 2001
Schedule 3 Consequential amendments
3.4 State Authorities Non-contributory Superannuation Act 1987
No 212
Schedule 1 Employers
Insert "Landcom" at the end of Part 1.
3.5 State Authorities Superannuation Act 1987 No 211
Schedule 1 Employers
Insert "Landcom" at the end of Part 1.
3.6 Superannuation Act 1916 No 28
Schedule 3 List of employers
Insert "Landcom" at the end of Part 1.
Page 20
Landcom Corporation Bill 2001
Savings, transitional and other provisions Schedule 4
Schedule 4 Savings, transitional and other provisions
(Section 21)
Part 1 Preliminary
1 Regulations
(1) The regulations may contain provisions of a savings or transitional
nature consequent on the enactment of the following Acts:
this Act
(2) Any such provision may, if the regulations so provide, take effect from
the date of assent to the Act concerned or a later date.
(3) To the extent to which any such provision takes effect from a date that
is earlier than the date of its publication in the Gazette, the provision
does not operate so as:
(a) to affect, in a manner prejudicial to any person (other than the
State or an authority of the State), the rights of that person
existing before the date of its publication, or
(b) to impose liabilities on any person (other than the State or an
authority of the State) in respect of anything done or omitted to
be done before the date of its publication.
Part 2 Provisions consequent on enactment of this Act
2 Acting chief executive officer
(1) On the commencement of section 10:
(a) the person who held the position of Chief General Manager of
Landcom immediately before that commencement ceases to
hold that position, and
(b) the person is taken to have been appointed under section 10 (1)
to act in the office of chief executive officer of the Corporation.
(2) A person who ceases to hold the position of Chief General Manager
of Landcom because of this clause is not entitled to any remuneration
or compensation because of the loss of that office.
Page 21
Landcom Corporation Bill 2001
Schedule 4 Savings, transitional and other provisions
(3) The provisions of section 10 apply to a person who is taken to have
been appointed to act in the office of chief executive officer under this
clause.
(4) Subject to section 10, Schedule 2 applies in respect of the person as if
he or she had been transferred by order under that Schedule.
3 Special provisions relating to former senior executive officers
(1) This clause applies to a person transferred by order under Schedule 2
who held an executive position under Part 2A of the Public Sector
Management Act 1988 immediately before the person was transferred
(including a person to whom clause 2 of this Schedule applies).
(2) Any such person is not entitled to exercise a right of return to the
public sector under section 42R, or to seek compensation under section
42S, of the Public Sector Management Act 1988:
(a) on ceasing to hold the executive position, or
(b) on ceasing to be employed by the Corporation.
(3) This clause applies despite anything to the contrary in this Act.
Page 22
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