Northern Territory Consolidated Acts

GOVERNMENT OWNED CORPORATIONS ACT

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Short title  
   2.      Objective  
   3.      Definitions  

   PART 2--ESTABLISHMENT OF GOVERNMENT OWNED CORPORATIONS

   4.      Objectives of Government owned corporation  
   5.      Status of Government owned corporations  

   PART 3--STRUCTURE AND OPERATION OF GOVERNMENT OWNED CORPORATIONS

           Division 1--Structure of Government owned corporations

   6.      Corporations legislation  
   7.      Share capital, shares and shareholder  
   8.      Shareholding Minister  
   9.      Delegation by shareholding Minister  
   10.     Portfolio Minister  
   11.     Constitution of Government owned corporations  
   12.     Committees  

           Division 2--Officers of Government owned corporations

   13.     Directors of Government owned corporations  
   14.     Acting directors  
   15.     Accountability of directors of Government owned corporations  
   16.     Chief executive officer  
   17.     Acting chief executive officer  
   18.     Chairperson  
   19.     Deputy chairperson  
   20.     Duties and liabilities of directors and other officers  
   21.     Government owned corporation not to indemnify officers  
   22.     Term of office of directors of corporations  
   23.     Termination of appointments  
   24.     Remuneration  
   25.     Vacancy in office of director of corporation  
   26.     Disclosure of interests by directors  
   27.     Delegation by board  

           Division 3--Public interest requirements

   28.     Community service obligations  
   29.     Portfolio Minister may notify board of public sector policies  
   30.     Portfolio Minister may give directions in public interest  

           Division 4--Financial matters

   31.     Dividends  
   32.     Capital structure  
   33.     Tax  
   34.     Government guarantee  
   35.     Borrowings  
   36.     Procurement  
   37.     Investments by Government owned corporations  
   38.     Disposal of investments  

   PART 4--ACCOUNTABILITY

           Division 1--Statements of corporate intent

   39.     Statement of corporate intent – timetable and procedure  
   40.     Statement of corporate intent – contents  
   41.     Statement of corporate intent – reporting  

           Division 2--Audit, reporting and provision of information

   42.     Corporation to provide financial statements to Auditor-General  
   43.     Auditor-General to audit financial statements etc.  
   44.     Annual reports and accounts  
   45.     Auditor-General to conduct audits  
   46.     Special audits  
   47.     Other information to be provided  

   PART 5--LEGAL CAPACITY AND POWERS OF GOVERNMENT OWNED CORPORATIONS

   48.     Interpretation  
   49.     Objects of Part  
   50.     General powers of Government owned corporations  
   51.     Restrictions on Government owned corporations  
   52.     Assumptions that may be made in dealings with Government owned corporations or property  
   53.     Fraud does not necessarily invalidate assumptions  

   PART 6--MISCELLANEOUS

   54.     Service of notices  
   55.     Transitional matters relating to Crown immunity  
   56.     Regulations  
           ENDNOTES