STATE OWNED CORPORATIONS ACT 1989 - SECT 26 Information to be laid before Parliament

STATE OWNED CORPORATIONS ACT 1989 - SECT 26

26 Information to be laid before Parliament

(1) A Minister is required to lay, or cause to be laid, the following before each House of Parliament--

(a) a copy of the constitution of each State owned corporation, within 14 sitting days after the date of the constitution or the date on which the corporation became a State owned corporation (whichever is the later),

(b) a copy of the constitution of each subsidiary of each State owned corporation, within 14 sitting days after the date of the constitution or the date on which the subsidiary became a subsidiary of the corporation (whichever is the later),

(c) a copy of any change to the constitution of a State owned corporation or any of its subsidiaries, within 14 sitting days after the date of the change,

(d) a copy of the completed statement of corporate intent for a State owned corporation, within 14 sitting days after the date the voting shareholders received it,

(e) a copy of any modification to a completed statement of corporate intent for a State owned corporation made after a copy of the statement was laid before the House, within 14 sitting days after the date the modification was made,

(f) a copy of any notice given under section 21 (6) directing the board of a State owned corporation not to make a modification of a statement of corporate intent, within 14 sitting days after the date the notice was given,

(g) a copy of any notice given under section 21 (7) directing the inclusion of matters in or the omission of matters from a statement of corporate intent, within 14 sitting days after the date the notice was given,

(h) a copy of each half-yearly report of a State owned corporation, within 14 sitting days after the date the voting shareholders received it,

(i) a copy of the annual report, audited financial report, and the Auditor-General's report on that financial report, of a State owned corporation, delivered to the voting shareholders under section 24, within 14 sitting days after the date of the annual general meeting of the corporation,

(j) a copy of any notice given by a Minister under section 11 or 20N to the board of a State owned corporation directing the corporation to perform activities, or to cease to perform activities, or not to perform activities, within 14 sitting days after the date the notice was given,

(k) a copy of any notice given by voting shareholders under the constitution of a State owned corporation to the board as to the amount of a dividend, within 14 sitting days after the date the notice was given,

(l) a copy of any written approval given by voting shareholders under section 18, 19 or 20 or section 20W, 20X or 20Y, within 14 sitting days after the date the approval was given,

(m) a copy of any notice given by the Treasurer under section 19 (7) or 20X (7), within 14 sitting days after the date the notice was given,

(n) a copy of any written instrument under section 17 (3) or 20V (3), within 14 sitting days after the date the instrument was signed,

(o) a copy of any written notification under section 20O, within 14 sitting days after the notification was given,

(p) a copy of any notice published under section 20O (5), within 14 sitting days after the date of its publication in the Gazette,

(q) a copy of any written direction under section 20P, within 14 sitting days after the direction was given,

(r) a copy of any notice published under section 20P (5), within 14 sitting days after the date of its publication in the Gazette,

(s) a copy of any notice published under section 20S (5) requiring the payment of an amount by way of a financial distribution under section 5.4 of the Government Sector Finance Act 2018 , within 14 sitting days after the date the notice was published,

(t) a copy of any written direction under clause 12 of Schedule 10, within 14 sitting days after the direction was given.

(2) The material referred to in subsection (1) relating to a constitution must be accompanied by a statement as to whether or not the constitution contains provisions to the effect of the provisions set out in Schedule 2 or 3 (whichever is relevant), and indicating the nature and extent of any departures. This subsection does not apply to statutory SOCs.

(3) The material referred to in subsection (1) relating to a statement of corporate intent must be accompanied by a statement as to whether or not the statement of corporate intent embodies any changes made to the description of the main undertakings of the State owned corporation or its subsidiaries.

(4) Before copies of material referred to in subsection (1) (d), (e), (f) or (g) relating to a statement of corporate intent are laid before the Houses of Parliament, the voting shareholders may delete any information of a commercially sensitive nature.

(5) The material referred to in subsection (1) (i) must be accompanied by a statement describing how the State owned corporation has, during the financial year concerned, exhibited a sense of social responsibility, including--

(a) a summary of any community interests considered under section 8 (c) or 20E (1) (c) the accommodation of which was thought to be incompatible with its principal objectives, and

(b) an assessment of the costs that would have been incurred in accommodating any such interests.

(6) The material referred to in subsection (1) (l) relating to an approval given under section 20 or 20Y need not be laid before the Houses of Parliament so far as the approval relates to a transaction between any members of a group comprising a State owned corporation and its subsidiaries.