Queensland Bills Queensland Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
Government Owned
Corporations Amendment
Bill 2006
Queensland
Government Owned Corporations
Amendment Bill 2006
Contents
Page
Part 1 Preliminary
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Part 2 Amendment of Government Owned Corporations Act 1993
3 Act amended in pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
4 Amendment of s 3 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . 6
5 Amendment of s 7 (Types of GOCs) . . . . . . . . . . . . . . . . . . . . . . 7
6 Amendment of s 21 (How Act will enable management of the
corporatisation process) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
7 Amendment of s 22 (What this part provides) . . . . . . . . . . . . . . . 8
8 Amendment of s 23 (Government entity becoming a GOC). . . . . 8
9 Amendment of s 24 (Meaning of candidate GOC) . . . . . . . . . . . . 8
10 Amendment of s 25 (Meaning of certain expressions about
government entities) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
11 Omission of s 27 (Nomination of statutory GOC etc. to become
company GOC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
12 Amendment of s 35 (Matters to be included in draft
corporatisation charter) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
13 Amendment of s 36 (Responsible Ministers may determine other
matters relevant to draft corporatisation charter preparation) . . . 9
14 Amendment of s 51 (Unincorporated entities) . . . . . . . . . . . . . . . 9
15 Amendment of s 54 (Candidate GOC associates and
subsidiaries of candidate GOC associates) . . . . . . . . . . . . . . . . . 9
16 Amendment of s 55 (Memorandum and articles of candidate
GOC) ......................................... 10
17 Amendment of s 58 (Share capital and issue of shares) . . . . . . . 10
18 Amendment of s 60 (Registration under Corporations Act) . . . . . 11
2
Government Owned Corporations Amendment
Bill 2006
19 Replacement of s 61 (Part does not affect existing legal
relationships) ................................... 11
61 Part does not affect existing legal relationships . . . . . 11
20 Amendment of s 62 (Regulations may deal with other matters). . 12
21 Replacement of s 62B (Application of provisions of pt 5A) . . . . . 13
62B Application of pt 5A . . . . . . . . . . . . . . . . . . . . . . . . . . 13
22 Omission of ss 62C and 62D . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
23 Replacement of s 62E (Appointment of company GOC's first chief
executive officer). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
62E Appointment of GOC's first chief executive officer . . . 13
24 Replacement of s 62F (Appointment of company GOC's first
senior executives). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
62F Appointment of GOC's first senior executives . . . . . . 14
25 Amendment of s 63 (Declaration of entity as GOC) . . . . . . . . . . . 14
26 Amendment of s 63A (Declaration of candidate GOC associate
as GOC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
27 Amendment of s 65 (Statutory GOC must be body corporate
etc.) ....................................... 14
28 Amendment of s 69 (Application of Corporations Law to
company GOCs). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
29 Amendment of s 70 (Company GOC not exempt public authority) 15
30 Replacement of ss 7680. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
76 Shareholders of a company GOC . . . . . . . . . . . . . . . 15
77 Shareholding Ministers must have equal number of
voting shares and equal rights . . . . . . . . . . . . . . . . . . 15
31 Amendment of s 81 (Resolutions without meetings) . . . . . . . . . . 16
32 Amendment of s 85 (Ministers not directors etc.) . . . . . . . . . . . . . 16
33 Replacement of ch 3, pt 4 hdg (Memorandum and articles) . . . . 16
34 Amendment of s 86 (Shareholding Ministers of statutory GOC
may require amendment of subsidiary's memorandum and
articles) ..................................... 16
35 Amendment of s 87 (Memorandum and articles of statutory
GOC subsidiary must not be inconsistent with Act or
Corporations Law) ............................ 16
36 Amendment of s 88 (Memorandum and articles of company
GOC may be amended by shareholding Ministers) . . . . . . . . . . . 17
37 Amendment of s 89 (Shareholding Ministers of company GOC
may require amendment of subsidiary's memorandum and
articles) ..................................... 17
3
Government Owned Corporations Amendment
Bill 2006
38 Amendment of s 90 (Memorandum and articles of company
GOC and its subsidiaries must not be inconsistent with Act or
Corporations Law) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
39 Omission of s 94A (First board of statutory GOC) . . . . . . . . . . . . 18
40 Amendment of s 96 (Composition of board). . . . . . . . . . . . . . . . . 18
41 Amendment of s 96B (First board of company GOC) . . . . . . . . . 18
42 Insertion of new s 101A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
101A Application of div 1 to statutory GOC subsidiaries . . . 19
43 Amendment of s 102 (Appointment of chief executive officer) . . . 19
44 Insertion of new s 102A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
102A Appointment of chief executive officer--particular
subsidiaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
45 Amendment of s 106 (Draft corporate plan) . . . . . . . . . . . . . . . . . 20
46 Amendment of s 107 (Special procedures in relation to draft
corporate plan) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
47 Amendment of s 131 (Matters to be included in annual report) . . 20
48 Omission of ch 3, pt 13, div 3 (GOC may direct subsidiaries) . . . 21
49 Amendment of s 159 (Payment of dividends). . . . . . . . . . . . . . . . 21
50 Amendment of s 160 (Interim dividends) . . . . . . . . . . . . . . . . . . . 21
51 Amendment of s 164 (Part applies to subsidiaries) . . . . . . . . . . . 22
52 Amendment of s 168 (Appointment of senior executives) . . . . . . 23
53 Insertion of new s 176 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
176 Relationship of GOCs with the State . . . . . . . . . . . . . 23
54 Amendment of s 182 (Application of Ombudsman Act 2001). . . . 23
55 Replacement of s 184 (Application of Ombudsman Act 2001). . . 24
184 Application of Ombudsman Act 2001 . . . . . . . . . . . . . 24
56 Insertion of new s 188A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
188A Effect of regulation made under s 188(1) on legal
relationships . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
57 Insertion of new ch 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Chapter 5 Transitional provisions for Government Owned
Corporations Amendment Act 2006
194 Company GOCs--transfer of non-voting shares . . . . 25
58 Amendment of sch 1 (Additional provisions relating to board of
statutory GOC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
59 Amendment of sch 2 (Additional provisions relating to chief
executive officer of statutory GOC) . . . . . . . . . . . . . . . . . . . . . . . 26
60 Amendment of sch 3 (Application of FA and A Act to company
GOCs and prescribed company GOC subsidiaries). . . . . . . . . . . 26
4
Government Owned Corporations Amendment
Bill 2006
61 Amendment of sch 4 (Application of chapter 3 of Act to company
GOC subsidiaries) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Part 3 Other amendments of Acts
62 Acts amended in schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Schedule Amendments of Acts commencing by proclamation . . . . . . . 33
Acts Interpretation Act 1954 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Electricity Act 1994. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Government Owned Corporations Act 1993 . . . . . . . . . . . . . . . . 33
Queensland Investment Corporation Act 1991. . . . . . . . . . . . . . . 49
State Financial Institutions and Metway Merger Facilitation Act
1996 ......................................... 51
Transport Infrastructure Act 1994 . . . . . . . . . . . . . . . . . . . . . . . . . 51
Transport Planning and Coordination Act 1994 . . . . . . . . . . . . . . 54
Water Act 2000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
Whistleblowers Protection Act 1994 . . . . . . . . . . . . . . . . . . . . . . . 55
2006
A Bill
for
An Act to amend the Government Owned Corporations Act
1993, and for other purposes
s1 6 s4
Government Owned Corporations Amendment
Bill 2006
The Parliament of Queensland enacts-- 1
Part 1 Preliminary 2
Clause 1 Short title 3
This Act may be cited as the Government Owned 4
Corporations Amendment Act 2006. 5
Clause 2 Commencement 6
Part 3 and the schedule commence on a day to be fixed by 7
proclamation. 8
Part 2 Amendment of Government 9
Owned Corporations Act 1993 10
Clause 3 Act amended in pt 2 11
This part amends the Government Owned Corporations Act 12
1993. 13
Clause 4 Amendment of s 3 (Definitions) 14
(1) Section 3, definitions articles, government entity that is to 15
become a company GOC, government entity that is to become 16
a statutory GOC and memorandum-- 17
omit. 18
(2) Section 3-- 19
insert-- 20
`board of directors, for chapter 2, part 5A, see section 62A. 21
dividend, for sections 160B to 160D, see section 160A. 22
s5 7 s6
Government Owned Corporations Amendment
Bill 2006
predecessor, for sections 160B to 160D, see section 160A. 1
statutory GOC closing time means the time at which the 2
Government Owned Corporations Amendment Act 2006, 3
section 111 commences.'. 4
(3) Section 3, definition government entity that is to become a 5
subsidiary of a GOC, `25(4)'-- 6
omit, insert-- 7
`25(2)'. 8
(4) Section 3, definition shareholding Ministers, paragraph (b), 9
`80'-- 10
omit, insert-- 11
`76'. 12
Clause 5 Amendment of s 7 (Types of GOCs) 13
Section 7(2)-- 14
omit, insert-- 15
`(2) A statutory GOC is a GOC that-- 16
(a) was established as a body corporate under an Act before 17
the statutory GOC closing time; and 18
(b) is not registered under the Corporations Act. 19
20
Note--
21
Each statutory GOC in existence immediately before the statutory GOC
22
closing time is, under section 24(b), a candidate GOC to become a
23
company GOC.'.
Clause 6 Amendment of s 21 (How Act will enable management of 24
the corporatisation process) 25
(1) Section 21(2)-- 26
omit. 27
1 Government Owned Corporations Amendment Act 2006, section 11 (Omission of s
27 (Nomination of statutory GOC etc. to become company GOC))
s7 8 s 11
Government Owned Corporations Amendment
Bill 2006
(2) Section 21(3) and (4)-- 1
renumber as section 21(2) and (3). 2
Clause 7 Amendment of s 22 (What this part provides) 3
Section 22(a) and (c), `statutory GOCs and'-- 4
omit. 5
Clause 8 Amendment of s 23 (Government entity becoming a GOC) 6
Section 23(2)-- 7
omit. 8
Clause 9 Amendment of s 24 (Meaning of candidate GOC) 9
Section 24(b)-- 10
omit, insert-- 11
`(b) each statutory GOC in existence immediately before the 12
statutory GOC closing time.'. 13
Clause 10 Amendment of s 25 (Meaning of certain expressions 14
about government entities) 15
(1) Section 25(2) and (3)-- 16
omit. 17
(2) Section 25(4)-- 18
renumber as section 25(2). 19
Clause 11 Omission of s 27 (Nomination of statutory GOC etc. to 20
become company GOC) 21
Section 27-- 22
omit. 23
s 12 9 s 15
Government Owned Corporations Amendment
Bill 2006
Clause 12 Amendment of s 35 (Matters to be included in draft 1
corporatisation charter) 2
(1) Section 35(1)(b)-- 3
omit. 4
(2) Section 35(1)(c) to (i)-- 5
renumber as section 35(1)(b) to (h). 6
Clause 13 Amendment of s 36 (Responsible Ministers may 7
determine other matters relevant to draft corporatisation 8
charter preparation) 9
Section 36(2), from `charter,'-- 10
omit, insert-- 11
`charter.'. 12
Clause 14 Amendment of s 51 (Unincorporated entities) 13
(1) Section 51(1)(c)-- 14
omit. 15
(2) Section 51(1)(d) and (e)-- 16
renumber as section 51(1)(c) and (d). 17
(3) Section 51-- 18
insert-- 19
`(1A) An entity provided for under a regulation made under 20
subsection (1) may have a seal.'. 21
(4) Section 51(1A) and (2)-- 22
renumber as section 51(2) and (3). 23
Clause 15 Amendment of s 54 (Candidate GOC associates and 24
subsidiaries of candidate GOC associates) 25
(1) Section 54(1)(c)-- 26
omit. 27
(2) Section 54(1)(d) and (e)-- 28
s 16 10 s 17
Government Owned Corporations Amendment
Bill 2006
renumber as section 54(1)(c) and (d). 1
(3) Section 54-- 2
insert-- 3
`(1A) A candidate GOC associate or associate subsidiary provided 4
for under a regulation made under subsection (1) may have a 5
seal.'. 6
(4) Section 54(1A) and (2)-- 7
renumber as section 54(2) and (3). 8
Clause 16 Amendment of s 55 (Memorandum and articles of 9
candidate GOC) 10
(1) Section 55, heading, `Memorandum and articles'-- 11
omit, insert-- 12
`Constitution'. 13
(2) Section 55(1) and (6)(a), `company'-- 14
omit. 15
(3) Section 55(1) to (5), `memorandum and articles'-- 16
omit, insert-- 17
`constitution'. 18
(4) Section 55(2), (3) and (5), `Corporations Law'-- 19
omit, insert-- 20
`Corporations Act'. 21
Clause 17 Amendment of s 58 (Share capital and issue of shares) 22
Section 58(5)-- 23
omit, insert-- 24
`(5) Chapter 3, part 3 applies to the candidate GOC as if it were a 25
company GOC.'. 26
s 18 11 s 19
Government Owned Corporations Amendment
Bill 2006
Clause 18 Amendment of s 60 (Registration under Corporations 1
Act) 2
(1) Section 60(1)-- 3
omit, insert-- 4
`(1) A government entity that is to become a GOC is authorised by 5
this section to transfer its incorporation to the Corporations 6
Act and become registered under chapter 5B2 of that Act.'. 7
(2) Section 60(2), `2A'-- 8
omit, insert-- 9
`5B'. 10
(3) Section 60(3)(a), `company'-- 11
omit. 12
Clause 19 Replacement of s 61 (Part does not affect existing legal 13
relationships) 14
Section 61-- 15
omit, insert-- 16
`61 Part does not affect existing legal relationships 17
`(1) Nothing done under this part-- 18
(a) makes a relevant entity liable for a civil wrong or a 19
contravention of a law or for a breach of a contract or 20
confidence; or 21
(b) makes a relevant entity in breach of any instrument, 22
including an instrument prohibiting, restricting or 23
regulating the assignment, novation or transfer of a right 24
or liability or the disclosure of information; or 25
(c) is taken to fulfil a condition that-- 26
(i) allows a person to terminate an instrument or 27
obligation or modify the operation or effect of an 28
instrument or obligation; or 29
2 Corporations Act, chapter 5B (Bodies corporate registered as companies, and
registrable bodies)
s 20 12 s 20
Government Owned Corporations Amendment
Bill 2006
(ii) allows a person to enforce an obligation contained 1
in an instrument or requires a person to perform an 2
obligation contained in an instrument; or 3
(iii) requires any money to be paid before its stated 4
maturity; or 5
(d) releases a surety or other obligee, wholly or partly, from 6
an obligation. 7
`(2) If, apart from this subsection, the advice, consent or approval 8
of a person would be necessary to do something under this 9
part, the advice is taken to have been obtained or the consent 10
or approval is taken to have been given unconditionally. 11
`(3) If, apart from this subsection, giving notice to a person would 12
be necessary to do something under this part, the notice is 13
taken to have been given. 14
`(4) This section applies despite anything in an instrument. 15
`(5) In this section-- 16
relevant entity means any of the following-- 17
(a) the State; 18
(b) a government entity; 19
(c) an officer, employee or agent of an entity mentioned in 20
paragraph (a) or (b); 21
(d) the responsible Ministers of a government entity.'. 22
Clause 20 Amendment of s 62 (Regulations may deal with other 23
matters) 24
(1) Section 62(1)(a)-- 25
omit. 26
(2) Section 62(1)(c), `statutory GOC or'-- 27
omit. 28
(3) Section 62(1)(b) and (c)-- 29
renumber as section 62(1)(a) and (b). 30
s 21 13 s 24
Government Owned Corporations Amendment
Bill 2006
Clause 21 Replacement of s 62B (Application of provisions of pt 5A) 1
Section 62B-- 2
omit, insert-- 3
`62B Application of pt 5A 4
`This part applies if the responsible Ministers of a candidate 5
GOC authorise the candidate GOC's board of directors to act 6
for the part.'. 7
Clause 22 Omission of ss 62C and 62D 8
Sections 62C and 62D-- 9
omit. 10
Clause 23 Replacement of s 62E (Appointment of company GOC's 11
first chief executive officer) 12
Section 62E-- 13
omit, insert-- 14
`62E Appointment of GOC's first chief executive officer 15
`(1) The first chief executive officer of a GOC may be appointed 16
under section 102 before the commencement of a regulation 17
declaring the candidate GOC to be a GOC. 18
`(2) For acting under the section-- 19
(a) a reference in the section to the GOC's board is taken to 20
be a reference to the candidate GOC's board of 21
directors; and 22
(b) a reference in the section to the shareholding Ministers 23
is taken to be a reference to the responsible Ministers of 24
the candidate GOC.'. 25
Clause 24 Replacement of s 62F (Appointment of company GOC's 26
first senior executives) 27
Section 62F-- 28
omit, insert-- 29
s 25 14 s 27
Government Owned Corporations Amendment
Bill 2006
`62F Appointment of GOC's first senior executives 1
`(1) The first senior executives of a GOC may be appointed under 2
section 168 before the commencement of a regulation 3
declaring the candidate GOC to be a GOC. 4
`(2) For acting under the section-- 5
(a) a reference in the section to the GOC's board is taken to 6
be a reference to the candidate GOC's board of 7
directors; and 8
(b) a reference in the section to the shareholding Ministers 9
is taken to be a reference to the responsible Ministers of 10
the candidate GOC.'. 11
Clause 25 Amendment of s 63 (Declaration of entity as GOC) 12
Section 63(b)-- 13
omit, insert-- 14
`(b) the candidate GOC complies with, or on becoming a 15
GOC will comply with, section 66;'. 16
Clause 26 Amendment of s 63A (Declaration of candidate GOC 17
associate as GOC) 18
Section 63A(2)(b), `65 or'-- 19
omit. 20
Clause 27 Amendment of s 65 (Statutory GOC must be body 21
corporate etc.) 22
Section 65(1)-- 23
insert-- 24
25
`Note--
26
A statutory GOC can not be established on or after the statutory GOC
27
closing time because of the commencement of the Government Owned
28
Corporations Amendment Act 2006, part 2.'.
s 28 15 s 30
Government Owned Corporations Amendment
Bill 2006
Clause 28 Amendment of s 69 (Application of Corporations Law to 1
company GOCs) 2
Section 69, `Corporations Law'-- 3
omit, insert-- 4
`Corporations Act'. 5
Clause 29 Amendment of s 70 (Company GOC not exempt public 6
authority) 7
Section 70, `Corporations Law'-- 8
omit, insert-- 9
`Corporations Act'. 10
Clause 30 Replacement of ss 7680 11
Sections 76 to 80-- 12
omit, insert-- 13
`76 Shareholders of a company GOC 14
`The shareholders of a company GOC are the GOC Minister 15
and the portfolio Minister of the GOC (the shareholding 16
Ministers). 17
`77 Shareholding Ministers must have equal number of 18
voting shares and equal rights 19
`(1) Each shareholding Minister must at all times have an equal 20
number of voting shares in the company GOC. 21
`(2) Each shareholding Minister must also at all times be entitled 22
to voting rights equal to those to which the other shareholding 23
Minister is entitled. 24
`(3) However, each shareholding Minister may hold non-voting 25
shares and need not hold an equal number of non-voting 26
shares.'. 27
s 31 16 s 35
Government Owned Corporations Amendment
Bill 2006
Clause 31 Amendment of s 81 (Resolutions without meetings) 1
Section 81(2), `memorandum or articles'-- 2
omit, insert-- 3
`constitution'. 4
Clause 32 Amendment of s 85 (Ministers not directors etc.) 5
Section 85(1), from `, and' to `GOC,'-- 6
omit. 7
Clause 33 Replacement of ch 3, pt 4 hdg (Memorandum and 8
articles) 9
Chapter 3, part 4, heading-- 10
omit, insert-- 11
`Part 4 Constitution'. 12
Clause 34 Amendment of s 86 (Shareholding Ministers of statutory 13
GOC may require amendment of subsidiary's 14
memorandum and articles) 15
(1) Section 86, heading, `memorandum and articles'-- 16
omit, insert-- 17
`constitution'. 18
(2) Section 86(1), `memorandum or articles'-- 19
omit, insert-- 20
`constitution'. 21
Clause 35 Amendment of s 87 (Memorandum and articles of 22
statutory GOC subsidiary must not be inconsistent with 23
Act or Corporations Law) 24
(1) Section 87, heading-- 25
omit, insert-- 26
s 36 17 s 37
Government Owned Corporations Amendment
Bill 2006
`87 Constitution of statutory GOC subsidiary must not be 1
inconsistent with Act or Corporations Act'. 2
(2) Section 87(1) to (4), `memorandum and articles'-- 3
omit, insert-- 4
`constitution'. 5
(3) Section 87(1), (2) and (4), `Corporations Law'-- 6
omit, insert-- 7
`Corporations Act'. 8
Clause 36 Amendment of s 88 (Memorandum and articles of 9
company GOC may be amended by shareholding 10
Ministers) 11
(1) Section 88, heading, `Memorandum and articles'-- 12
omit, insert-- 13
`Constitution'. 14
(2) Section 88(1) and (2), `memorandum or articles'-- 15
omit, insert-- 16
`constitution'. 17
Clause 37 Amendment of s 89 (Shareholding Ministers of company 18
GOC may require amendment of subsidiary's 19
memorandum and articles) 20
(1) Section 89, heading, `memorandum and articles'-- 21
omit, insert-- 22
`constitution'. 23
(2) Section 89(1), `memorandum or articles'-- 24
omit, insert-- 25
`constitution'. 26
s 38 18 s 41
Government Owned Corporations Amendment
Bill 2006
Clause 38 Amendment of s 90 (Memorandum and articles of 1
company GOC and its subsidiaries must not be 2
inconsistent with Act or Corporations Law) 3
(1) Section 90, heading-- 4
omit, insert-- 5
`90 Constitutions of company GOC and its subsidiaries must 6
not be inconsistent with Act or Corporations Act'. 7
(2) Section 90(1), `memorandum and articles'-- 8
omit, insert-- 9
`constitutions'. 10
(3) Section 90(2) to (4), `memorandum and articles'-- 11
omit, insert-- 12
`constitution'. 13
(4) Section 90(1), (2) and (4), `Corporations Law'-- 14
omit, insert-- 15
`Corporations Act'. 16
Clause 39 Omission of s 94A (First board of statutory GOC) 17
Section 94A-- 18
omit. 19
Clause 40 Amendment of s 96 (Composition of board) 20
Section 96(3)(a), `memorandum and articles'-- 21
omit, insert-- 22
`constitution'. 23
Clause 41 Amendment of s 96B (First board of company GOC) 24
(1) Section 96B(1)-- 25
omit, insert-- 26
s 42 19 s 43
Government Owned Corporations Amendment
Bill 2006
`(1) This section applies to candidate GOCs and candidate GOC 1
associates.'. 2
(2) Section 96B(2) and (4), `company'-- 3
omit. 4
(3) Section 96B(4)(a), `memorandum and articles'-- 5
omit, insert-- 6
`constitution'. 7
Clause 42 Insertion of new s 101A 8
Chapter 3, part 6, division 1-- 9
insert-- 10
`101A Application of div 1 to statutory GOC subsidiaries 11
`(1) This division applies to a statutory GOC subsidiary as if it 12
were a statutory GOC. 13
`(2) For subsection (1), a reference in schedule 2 to the 14
shareholding Ministers is taken to be a reference to the 15
shareholding Ministers of each GOC that is a shareholder of 16
the subsidiary. 17
`(3) Schedule 2, section 1, as it applies to a statutory GOC 18
subsidiary under subsection (1), does not limit a provision of 19
the subsidiary's constitution requiring the subsidiary's board, 20
before appointing the chief executive officer under the 21
section, to consult the board of a GOC that is a shareholder of 22
the subsidiary.'. 23
Clause 43 Amendment of s 102 (Appointment of chief executive 24
officer) 25
(1) Section 102(1), from `by the Governor'-- 26
omit, insert-- 27
`by the GOC's board with the prior written approval of the 28
shareholding Ministers.'. 29
(2) Section 102(2)-- 30
omit. 31
s 44 20 s 47
Government Owned Corporations Amendment
Bill 2006
Clause 44 Insertion of new s 102A 1
Chapter 3, part 6, division 2-- 2
insert-- 3
`102A Appointment of chief executive officer--particular 4
subsidiaries 5
`(1) This section applies to a company GOC subsidiary that is not 6
prescribed under a regulation made under section 177(1). 7
8
Note--
9
For a company GOC subsidiary prescribed under a regulation made
10
under section 177(1), schedule 4 provides for the appointment of the
11
subsidiary's chief executive officer.
`(2) The subsidiary's chief executive officer is to be appointed by 12
the subsidiary's board with the prior written approval of the 13
shareholding Ministers of each GOC that is a shareholder of 14
the subsidiary. 15
`(3) Subsection (2) does not limit a provision of the subsidiary's 16
constitution requiring the subsidiary's board to consult the 17
board of a GOC that is a shareholder of the subsidiary before 18
appointing the chief executive officer under the subsection.'. 19
Clause 45 Amendment of s 106 (Draft corporate plan) 20
Section 106(2), `1 month before'-- 21
omit. 22
Clause 46 Amendment of s 107 (Special procedures in relation to 23
draft corporate plan) 24
Section 107(4), `by 1 month'-- 25
omit. 26
Clause 47 Amendment of s 131 (Matters to be included in annual 27
report) 28
(1) Section 131(3)-- 29
omit. 30
s 48 21 s 50
Government Owned Corporations Amendment
Bill 2006
(2) Section 131(4)-- 1
renumber as section 131(3). 2
Clause 48 Omission of ch 3, pt 13, div 3 (GOC may direct 3
subsidiaries) 4
Chapter 3, part 13, division 3-- 5
omit. 6
Clause 49 Amendment of s 159 (Payment of dividends) 7
(1) Section 159(2)-- 8
omit. 9
(2) Section 159(3)-- 10
omit, insert-- 11
`(3) The recommendation must be accompanied by-- 12
(a) the board's estimate of the GOC's profits (the estimated 13
profits) for the financial year, after provision has been 14
made for income tax or its equivalent; and 15
(b) if the board has made any adjustment to the estimated 16
profits in making the recommendation--a statement of 17
the amount of, and reason for, each adjustment. 18
19
Example of an adjustment to estimated profits--
20
exclusion of an amount for unrealised capital gains from
21
upwards revaluation of non-current assets'.
Clause 50 Amendment of s 160 (Interim dividends) 22
(1) Section 160-- 23
insert-- 24
`(2A) The recommendation must be accompanied by-- 25
(a) the board's estimate of the GOC's profits (the estimated 26
profits) for the first 6 months of the financial year, after 27
provision has been made for income tax or its 28
equivalent; and 29
s 51 22 s 51
Government Owned Corporations Amendment
Bill 2006
(b) if the board has made any adjustment to the estimated 1
profits in making the recommendation--a statement of 2
the amount of, and reason for, each adjustment. 3
4
Example of an adjustment to estimated profits--
5
exclusion of an amount for unrealised capital gains from
6
upwards revaluation of non-current assets'.
(2) Section 160(4)-- 7
omit, insert-- 8
`(4) In deciding the amount the GOC is to be directed to pay under 9
subsection (3)(b), the shareholding Ministers must have 10
regard to any adjustment identified by the board under 11
subsection (2A)(b). 12
`(4A) A direction under subsection (3)(b) must not direct the 13
payment of an amount that exceeds the GOC's estimated 14
profits, after making any adjustment identified by the board 15
under subsection (2A)(b) to exclude an amount for unrealised 16
capital gains from upwards revaluation of non-current assets.'. 17
Clause 51 Amendment of s 164 (Part applies to subsidiaries) 18
Section 164-- 19
insert-- 20
`(2) For subsection (1)-- 21
(a) a reference in this part to the GOC's board is taken to be 22
a reference to the subsidiary's board of directors; and 23
(b) a reference in this part to the shareholding Ministers is 24
taken to be a reference to the shareholding Ministers of 25
each GOC that is a shareholder of the subsidiary. 26
`(3) Section 168, as it applies to a GOC subsidiary under 27
subsection (1), does not limit a provision of the subsidiary's 28
constitution requiring the subsidiary's board to consult the 29
board of a GOC that is a shareholder of the subsidiary before 30
appointing senior executives under the section.'. 31
s 52 23 s 54
Government Owned Corporations Amendment
Bill 2006
Clause 52 Amendment of s 168 (Appointment of senior executives) 1
(1) Section 168(1), from `by the Governor'-- 2
omit, insert-- 3
`by the GOC's board with the prior written approval of the 4
shareholding Ministers.'. 5
(2) Section 168(2)-- 6
omit. 7
Clause 53 Insertion of new s 176 8
Chapter 3, part 17, division 1-- 9
insert-- 10
`176 Relationship of GOCs with the State 11
`(1) A GOC does not represent, and has never represented, the 12
State. 13
`(2) Subsection (1) does not apply to the extent an Act expressly 14
provides, or did provide, otherwise.'. 15
Clause 54 Amendment of s 182 (Application of Ombudsman Act 16
2001) 17
(1) Section 182(1)(a)-- 18
omit. 19
(2) Section 182(1)(b) to (d)-- 20
renumber as section 182(1)(a) to (c). 21
(3) Section 182-- 22
insert-- 23
`(1A) A statutory GOC prescribed by regulation for this subsection 24
is not a public authority under the Ombudsman Act 2001.'. 25
(4) Section 182(1A) and (2)-- 26
renumber as section 182(2) and (3). 27
s 55 24 s 56
Government Owned Corporations Amendment
Bill 2006
Clause 55 Replacement of s 184 (Application of Ombudsman Act 1
2001) 2
Section 184-- 3
omit, insert-- 4
`184 Application of Ombudsman Act 2001 5
`A company GOC is not a public authority under the 6
Ombudsman Act 2001.'. 7
Clause 56 Insertion of new s 188A 8
After section 188-- 9
insert-- 10
`188A Effect of regulation made under s 188(1) on legal 11
relationships 12
`(1) Nothing done under a regulation made under section 188(1)-- 13
(a) makes a relevant entity liable for a civil wrong or a 14
contravention of a law or for a breach of a contract or 15
confidence; or 16
(b) makes a relevant entity in breach of any instrument, 17
including an instrument prohibiting, restricting or 18
regulating the assignment, novation or transfer of a right 19
or liability or the disclosure of information; or 20
(c) is taken to fulfil a condition that-- 21
(i) allows a person to terminate an instrument or 22
obligation or modify the operation or effect of an 23
instrument or obligation; or 24
(ii) allows a person to enforce an obligation contained 25
in an instrument or requires a person to perform an 26
obligation contained in an instrument; or 27
(iii) requires any money to be paid before its stated 28
maturity; or 29
(d) releases a surety or other obligee, wholly or partly, from 30
an obligation. 31
`(2) If, apart from this subsection, the advice, consent or approval 32
of a person would be necessary to do something under a 33
s 57 25 s 57
Government Owned Corporations Amendment
Bill 2006
regulation made under section 188(1), the advice is taken to 1
have been obtained or the consent or approval is taken to have 2
been given unconditionally. 3
`(3) If, apart from this subsection, giving notice to a person would 4
be necessary to do something under a regulation made under 5
section 188(1), the notice is taken to have been given. 6
`(4) This section applies despite anything in an instrument. 7
`(5) In this section-- 8
relevant entity means any of the following-- 9
(a) the State; 10
(b) a GOC or GOC subsidiary; 11
(c) an officer, employee or agent of an entity mentioned in 12
paragraph (a) or (b); 13
(d) the shareholding Ministers of a GOC.'. 14
Clause 57 Insertion of new ch 5 15
After section 193-- 16
insert-- 17
`Chapter 5 Transitional provisions for 18
Government Owned 19
Corporations Amendment 20
Act 2006 21
`194 Company GOCs--transfer of non-voting shares 22
`(1) Shares in a company GOC that are held by non-voting 23
shareholders immediately before the commencement are, on 24
the commencement, transferred to the GOC Minister by force 25
of this section. 26
`(2) In this section-- 27
s 58 26 s 60
Government Owned Corporations Amendment
Bill 2006
commencement means the commencement of the 1
Government Owned Corporations Amendment Act 2006, 2
section 30.3'. 3
Clause 58 Amendment of sch 1 (Additional provisions relating to 4
board of statutory GOC) 5
Schedule 1, section 15(2)-- 6
omit. 7
Clause 59 Amendment of sch 2 (Additional provisions relating to 8
chief executive officer of statutory GOC) 9
Schedule 2, section 1, from `by the Governor'-- 10
omit, insert-- 11
`by the GOC's board with the prior written approval of the 12
shareholding Ministers.'. 13
Clause 60 Amendment of sch 3 (Application of FA and A Act to 14
company GOCs and prescribed company GOC 15
subsidiaries) 16
(1) Schedule 3, part 2, section 4(3) and part 3, section 6(3)-- 17
insert-- 18
19
`Note--
20
Changes are shown in italics. Definitions are also shown in italics.'.
(2) Schedule 3, parts 4 and 5, section 82(1), after `staff of the'-- 21
insert-- 22
`Queensland'. 23
(3) Schedule 3, part 5, sections 46F(1) and 46J(3)(b), 24
`Corporations Law'-- 25
omit, insert-- 26
3 Government Owned Corporations Amendment Act 2006, section 30 (Replacement
of ss 7680)
s 61 27 s 61
Government Owned Corporations Amendment
Bill 2006
`Corporations Act'. 1
(4) Schedule 3, part 5, section 79(4), `Corporations Law'-- 2
omit, insert-- 3
`Corporations Act'. 4
Clause 61 Amendment of sch 4 (Application of chapter 3 of Act to 5
company GOC subsidiaries) 6
(1) Schedule 4, part 1, section 3(1)-- 7
insert-- 8
9
`Note--
10
Changes, other than changes in definitions, are shown in italics.
11
Citations of Acts and definitions are also shown in italics. Changes in
12
definitions are shown in roman type. Provisions not applied are
13
indicated by "(omitted)".'.
(2) Schedule 4, part 1, section 3(2), from `before'-- 14
omit, insert-- 15
`after the commencement of the Government Owned 16
Corporations Amendment Act 2006, part 2.'. 17
(3) Schedule 4, part 2, chapter 3, sections 69 and 70, 18
`Corporations Law'-- 19
omit, insert-- 20
`Corporations Act'. 21
(4) Schedule 4, part 2, chapter 3, sections 76 to 80-- 22
omit, insert-- 23
`76 Shareholders of a company GOC subsidiary 24
`(1) A company GOC subsidiary may have any number of 25
shareholders. 26
`(2) Each shareholder must be a company GOC. 27
`(3) Each GOC that is a shareholder of the subsidiary is its 28
shareholding GOC. 29
s 61 28 s 61
Government Owned Corporations Amendment
Bill 2006
`77 Shareholding GOCs must have equal number of shares 1
(words omitted) 2
`(1) Each shareholding GOC need not have an equal number of 3
shares. 4
`(2) (omitted) 5
`(3) (omitted)'. 6
(5) Schedule 4, part 2, chapter 3, section 81(2), `memorandum or 7
articles'-- 8
omit, insert-- 9
`constitution'. 10
(6) Schedule 4, part 2, chapter 3, section 83-- 11
insert-- 12
13
`Note--
14
Section 83 is not applied. The section applies to subsidiaries under its
15
own force.'.
(7) Schedule 4, part 2, chapter 3, part 4 heading-- 16
omit, insert-- 17
`Part 4 Constitution (omitted) 18
19
Note--
20
Part 4 is not applied. Sections 89 (Shareholding Ministers of company
21
GOC may require amendment of subsidiary's constitution) and 90
22
(Constitutions of company GOC and its subsidiaries must not be
23
inconsistent with Act or Corporations Act) apply to subsidiaries under
24
their own force.'.
(8) Schedule 4, part 2, chapter 3, section 95(c), `shareholders'-- 25
omit, insert-- 26
`shareholding GOCs'. 27
(9) Schedule 4, part 2, chapter 3, section 96(3)(a), `memorandum 28
and articles'-- 29
omit, insert-- 30
`constitution'. 31
s 61 29 s 61
Government Owned Corporations Amendment
Bill 2006
(10) Schedule 4, part 2, chapter 3, section 102(1), from `by the 1
Governor'-- 2
omit, insert-- 3
`by the subsidiary's board with the prior written approval of 4
the shareholding Ministers of each shareholding GOC of the 5
subsidiary.'. 6
(11) Schedule 4, part 2, chapter 3, section 102(2)-- 7
omit, insert-- 8
`(2) Subsection (1) does not limit a provision of the subsidiary's 9
constitution requiring the subsidiary's board to consult the 10
board of a GOC that is a shareholder of the subsidiary before 11
appointing the chief executive officer under the subsection.'. 12
(12) Schedule 4, part 2, chapter 3, part 6, division 2-- 13
insert-- 14
`102A Appointment of chief executive officer--particular 15
subsidiaries 16
`(omitted) 17
18
Note--
19
Section 102A is not applied. The section applies to subsidiaries not
20
prescribed under a regulation made under section 177(1).'.
(13) Schedule 4, part 2, chapter 3, after part 7 heading-- 21
insert-- 22
23
`Note--
24
Part 7 is not applied. Under section 104, a GOC's corporate plan must
25
apply to the GOC and its subsidiaries.'.
(14) Schedule 4, part 2, chapter 3, after part 8 heading-- 26
insert-- 27
28
`Note--
29
Part 8 is not applied. Under section 112, a GOC's statement of corporate
30
intent must apply to the GOC and its subsidiaries.'.
(15) Schedule 4, part 2, chapter 3, section 129-- 31
omit. 32
(16) Schedule 4, part 2, chapter 3, section 130-- 33
s 61 30 s 61
Government Owned Corporations Amendment
Bill 2006
insert-- 1
2
`Note--
3
Section 130 is not applied. The section applies to subsidiaries under its
4
own force.'.
(17) Schedule 4, part 2, chapter 3, section 131(3)-- 5
omit. 6
(18) Schedule 4, part 2, chapter 3, section 131(4)-- 7
renumber as schedule 4, part 2, chapter 3, section 131(3). 8
(19) Schedule 4, part 2, chapter 3, section 146-- 9
insert-- 10
11
`Note--
12
Section 146 is not applied. The section applies to subsidiaries under its
13
own force.'.
(20) Schedule 4, part 2, chapter 3, part 13, division 3, heading-- 14
omit. 15
(21) Schedule 4, part 2, chapter 3, after part 14 heading-- 16
insert-- 17
18
`Note--
19
Part 14 is not applied. The part applies to subsidiaries under its own
20
force.'.
(22) Schedule 4, part 2, chapter 3, section 162-- 21
insert-- 22
23
`Note--
24
Section 162 is not applied. The section applies to subsidiaries under its
25
own force.'.
(23) Schedule 4, part 2, chapter 3, section 163-- 26
insert-- 27
28
`Note--
29
Section 163 is not applied. The section applies to subsidiaries under its
30
own force.'.
(24) Schedule 4, part 2, chapter 3, after part 15A heading-- 31
insert-- 32
s 61 31 s 61
Government Owned Corporations Amendment
Bill 2006
1
`Note--
2
Part 15A is not applied. The part applies to subsidiaries under its own
3
force.'.
(25) Schedule 4, part 2, chapter 3, after part 16 heading-- 4
insert-- 5
6
`Note--
7
Part 16 is not applied. The part applies to subsidiaries under section
8
164.'.
(26) Schedule 4, part 2, chapter 3, part 17, division 1, heading-- 9
omit, insert-- 10
`Division 1 GOCs generally 11
`176 Relationship of company GOC subsidiaries with the State 12
`(1) A company GOC subsidiary does not represent, and has never 13
represented, the State. 14
`(2) Subsection (1) does not apply to the extent an Act expressly 15
provides, or did provide, otherwise. 16
`177 Application of chapter to certain company GOC 17
subsidiaries 18
`(omitted) 19
20
Note--
21
Section 177 provides for the application of chapter 3 of the Act with the
22
changes in this schedule to certain company GOC subsidiaries.'.
(27) Schedule 4, part 2, chapter 3, section 184-- 23
omit, insert-- 24
`184 Application of Ombudsman Act 2001 25
`A company GOC subsidiary is not a public authority under 26
the Ombudsman Act 2001.'. 27
s 62 32 s 62
Government Owned Corporations Amendment
Bill 2006
Part 3 Other amendments of Acts 1
Clause 62 Acts amended in schedule 2
The schedule amends the Acts mentioned in it. 3
33
Government Owned Corporations Amendment
Bill 2006
Schedule Amendments of Acts 1
commencing by proclamation 2
section 62 3
Acts Interpretation Act 1954 4
1 Section 36, definitions company GOC and statutory 5
GOC-- 6
omit. 7
Electricity Act 1994 8
1 Schedule 5, definitions GOC and statutory GOC-- 9
omit. 10
Government Owned Corporations Act 1993 11
1 Section 3, definitions company GOC and statutory 12
GOC-- 13
omit. 14
2 Section 3, definition responsible Ministers-- 15
omit, insert-- 16
`responsible Ministers-- 17
(a) of a candidate GOC--see section 31; or 18
(b) of a candidate GOC associate--see section 31A.'. 19
34
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
3 Section 3, definition shareholding Ministers-- 1
omit, insert-- 2
`shareholding Ministers, of a GOC, see section 76.'. 3
4 Section 5(e)-- 4
omit. 5
5 Section 5(f)-- 6
renumber as section 5(e). 7
6 Section 7-- 8
omit. 9
7 Section 19(a), third dot point, from `will, or,' to 10
`possible,'-- 11
omit, insert-- 12
`will'. 13
8 Chapter 2, heading, `and altering types of'-- 14
omit. 15
9 Section 22(a), `company'-- 16
omit. 17
10 Section 22(b) and (c)-- 18
omit, insert-- 19
`(b) government entities to become subsidiaries of GOCs.'. 20
35
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
11 Section 24-- 1
omit, insert-- 2
`24 Meaning of candidate GOC 3
`A candidate GOC is a government entity nominated under 4
part 2 to be a candidate GOC.'. 5
12 Section 28(a)-- 6
omit, insert-- 7
`(a) a candidate GOC is to become a GOC; and'. 8
13 Section 30-- 9
omit. 10
14 Section 31, heading, `that is not existing GOC'-- 11
omit. 12
15 Section 31(1)-- 13
omit, insert-- 14
`(1) This section applies to a candidate GOC.'. 15
16 Section 33-- 16
omit. 17
17 Section 50(b)-- 18
omit. 19
18 Section 50(c)-- 20
renumber as section 50(b). 21
36
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
19 Section 53(2)(b)-- 1
omit. 2
20 Section 53(2)(c) to (e)-- 3
renumber as section 53(2)(b) to (d). 4
21 Section 54A(3), first dot point, from `directors'-- 5
omit, insert-- 6
`interim board of directors and executives of candidate GOC 7
associates and associate subsidiaries)'. 8
22 Section 54A(3), last dot point, from `schedule' to `GOC)'-- 9
omit, insert-- 10
`schedule 2 (Executives of candidate GOC associates and associate 11
subsidiaries)'. 12
23 Section 57(3)-- 13
omit, insert-- 14
`(3) Schedule 1 applies to the interim board.'. 15
24 Section 57B-- 16
omit, insert-- 17
`57B Application of certain provisions about interim board of 18
directors and executives of candidate GOC associates 19
and associate subsidiaries 20
`(1) Schedule 1 applies to the interim board of a candidate GOC 21
associate or associate subsidiary. 22
`(2) Schedule 2 applies to a candidate GOC associate or associate 23
subsidiary.'. 24
37
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
25 Section 58(5), `company'-- 1
omit. 2
26 Section 62(1), from `to--'-- 3
omit, insert-- 4
`to a GOC or a subsidiary of a GOC.'. 5
27 Section 62(2)(b) and (d)-- 6
omit. 7
28 Section 62(2)(c) to (f)-- 8
renumber as section 62(2)(b) to (d). 9
29 Chapter 3, part 1, division 1-- 10
omit. 11
30 Chapter 3, part 1, division 2, heading-- 12
omit. 13
31 Section 66-- 14
omit, insert-- 15
`66 GOC must be public company limited by shares 16
`A GOC must be a public company, and a company limited by 17
shares, under the Corporations Act.'. 18
32 Chapter 3, part 2, division 1-- 19
omit. 20
38
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
33 Chapter 3, part 2, division 2, heading-- 1
omit. 2
34 Sections 69 and 70, `company'-- 3
omit. 4
35 Section 70, heading, `Company'-- 5
omit. 6
36 Chapter 3, part 3, division 1-- 7
omit. 8
37 Chapter 3, part 3, divisions 2 and 3, headings-- 9
omit. 10
38 Sections 76, 77(1) and 81(1), `company'-- 11
omit. 12
39 Section 81-- 13
relocate and renumber, in chapter 3, part 3, as section 85A. 14
40 Chapter 3, part 4, division 1-- 15
omit. 16
41 Chapter 3, part 4, division 2, heading-- 17
omit. 18
42 Sections 88 to 90, `company'-- 19
omit. 20
39
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
43 Chapter 3, part 5, division 1-- 1
omit. 2
44 Chapter 3, part 5, division 2, heading-- 3
omit. 4
45 Sections 95 to 96A, and 96B heading, `company'-- 5
omit. 6
46 Chapter 3, part 6, division 1-- 7
omit. 8
47 Chapter 3, part 6, division 2, heading-- 9
omit. 10
48 Sections 102 and 102A, `company'-- 11
omit. 12
49 Chapter 3, part 11, division 1-- 13
omit. 14
50 Chapter 3, part 11, divisions 2 and 3, headings-- 15
omit. 16
51 Section 128, `company'-- 17
omit. 18
52 Section 131(2)-- 19
omit. 20
40
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
53 Section 131(3)-- 1
renumber as section 131(2). 2
54 Chapter 3, part 12, division 1-- 3
omit. 4
55 Chapter 3, part 12, divisions 2 and 3, headings-- 5
omit. 6
56 Section 145, `company'-- 7
omit. 8
57 Chapter 3, part 13, division 1-- 9
omit. 10
58 Chapter 3, part 13, division 2, heading-- 11
omit. 12
59 Sections 152 and 153, `company'-- 13
omit. 14
60 Section 159(5)-- 15
omit. 16
61 Section 159(6), from `If' to `GOC, the'-- 17
omit, insert-- 18
`The'. 19
41
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
62 Section 159(8), `(4)(b)'-- 1
omit, insert-- 2
`(3)(b)'. 3
63 Section 159(3) to (8)-- 4
renumber as section 159(2) to (6). 5
64 Section 159A(1), `159(4)'-- 6
omit, insert-- 7
`159(3)'. 8
65 Section 159A(2), `127 or'-- 9
omit. 10
66 Chapter 3, part 16, division 1, heading-- 11
omit. 12
67 Chapter 3, part 16, division 2-- 13
omit. 14
68 Chapter 3, part 16, divisions 3 and 4, headings-- 15
omit. 16
69 Section 167, `company'-- 17
omit. 18
70 Chapter 3, part 17, divisions 1 and 3, headings-- 19
omit. 20
42
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
71 Section 177, `company'-- 1
omit. 2
72 Chapter 3, part 17, division 2-- 3
omit. 4
73 Sections 183 and 184, `company'-- 5
omit. 6
74 Section 192(4), `company GOC'-- 7
omit, insert-- 8
`GOC'. 9
75 Chapter 4-- 10
insert-- 11
`193A Numbering and renumbering of Act 12
`In the next reprint of this Act produced under the Reprints 13
Act 1992, the provisions of this Act must be numbered and 14
renumbered as permitted by the Reprints Act 1992, section 15
43.'. 16
76 Chapter 5-- 17
insert-- 18
`195 References to statutory GOCs and company GOCs 19
`A reference in an Act or document to a statutory GOC or 20
company GOC may, if the context permits, be taken to be a 21
reference to a GOC.'. 22
43
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
77 Schedule 1, heading and authorising provision-- 1
omit, insert-- 2
`Schedule 1 Interim boards of directors 3
sections 57(3) and 57B(1)'. 4
78 Schedule 1, before part 1-- 5
insert-- 6
`Part 1AA Interpretation 7
`1AA Definitions for sch 1 8
`In this schedule-- 9
interim board means the interim board of directors of a 10
relevant entity. 11
relevant entity means-- 12
(a) a government entity that is to become a GOC or a GOC 13
subsidiary that has an interim board of directors under a 14
regulation made under section 57(1); or 15
(b) a candidate GOC associate or associate subsidiary.'. 16
79 Schedule 1, part 1, heading, `board'-- 17
omit, insert-- 18
`interim board of relevant entities'. 19
80 Schedule 1, section 1-- 20
omit, insert-- 21
`1 Composition of interim board 22
`A relevant entity's interim board consists of the number of 23
directors appointed by the Governor in Council.'. 24
44
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
81 Schedule 1, section 2(1), `board's'-- 1
omit, insert-- 2
`interim board's'. 3
82 Schedule 1, part 2, heading, `board'-- 4
omit, insert-- 5
`interim board'. 6
83 Schedule 1, sections 3 to 5, 7 to 10 and 15, `board'-- 7
omit, insert-- 8
`interim board'. 9
84 Schedule 1, section 7(2)-- 10
omit. 11
85 Schedule 1, section 11(2), from `statutory GOC's' to `the 12
GOC'-- 13
omit, insert-- 14
`relevant entity's commercial performance and, if the entity'. 15
86 Schedule 2, heading and authorising provision-- 16
omit, insert-- 17
`Schedule 2 Executives of candidate GOC 18
associates and associate 19
subsidiaries 20
section 57B(2)'. 21
45
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
87 Schedule 2, before section 1-- 1
insert-- 2
`Part 1 Interpretation 3
`1AA Definitions for sch 2 4
`In this schedule-- 5
interim board means the interim board of directors of a 6
relevant entity. 7
relevant entity means a candidate GOC associate or associate 8
subsidiary. 9
responsible Ministers, for an associate subsidiary, means the 10
responsible Ministers for the candidate GOC associate of 11
which the associate subsidiary is a subsidiary. 12
`Part 2 Chief executive officer'. 13
88 Schedule 2, section 1-- 14
omit, insert-- 15
`1 Appointment of chief executive officer 16
`The chief executive officer of a relevant entity is to be 17
appointed by the entity's interim board with the prior written 18
approval of the responsible Ministers.'. 19
89 Schedule 2, sections 2, 3 and 5(1), `board'-- 20
omit, insert-- 21
`interim board'. 22
46
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
90 Schedule 2, section 4, after `chairperson'-- 1
insert-- 2
`of the interim board'. 3
91 Schedule 2-- 4
insert-- 5
`6 Duties of chief executive officer 6
`A relevant entity's chief executive officer, under its interim 7
board, manages the entity. 8
`7 Things done by chief executive officer 9
`Anything done in the name of, or for, a relevant entity by its 10
chief executive officer is taken to have been done by the entity. 11
`8 Delegation by chief executive officer 12
`(1) The chief executive officer of a relevant entity may delegate 13
the chief executive officer's functions, including a function 14
delegated to the chief executive officer, to an appropriately 15
qualified employee of the entity. 16
`(2) Subsection (1) has effect subject to any directions of the 17
relevant entity's interim board. 18
`(3) In this section-- 19
appropriately qualified includes having qualifications, 20
experience or standing appropriate for the function. 21
22
Example of standing--
23
an employee's classification level in the relevant entity
function includes power. 24
47
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
`Part 3 Senior executives 1
`9 Appointment of senior executives 2
`The senior executives of a relevant entity are to be appointed 3
by the entity's interim board with the prior written approval of 4
the responsible Ministers.'. 5
92 Schedule 3, heading, parts 1 to 3, and parts 4 and 5 6
headings, `company'-- 7
omit. 8
93 Schedule 3, part 3, section 5, definition company GOC 9
subsidiary, and parts 4 and 5, `company'-- 10
omit. 11
94 Schedule 3, parts 4 and 5, `Company'-- 12
omit. 13
95 Schedule 4, heading, part 1 and part 2 heading, 14
`company'-- 15
omit. 16
96 Schedule 4, part 1, section 2, definition company GOC 17
subsidiary, `company'-- 18
omit. 19
97 Schedule 4, part 1, section 3(2), from `after'-- 20
omit, insert-- 21
`after the commencement of amendment 1 of the Act under the 22
Government Owned Corporations Amendment Act 2006, 23
schedule.'. 24
48
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
98 Schedule 4, part 2, chapter 3, heading, `Company'-- 1
omit. 2
99 Schedule 4, part 2, chapter 3, parts 1, 2, 5, 6 and 13, 3
divisions 1 and 2, headings, and parts 3, 11, 12 and 17, 4
divisions 1 to 3, headings-- 5
omit. 6
100 Schedule 4, part 2, chapter 3, section 66, heading, 7
`Company'-- 8
omit. 9
101 Schedule 4, part 2, chapter 3, section 66, `company 10
GOC'-- 11
omit, insert-- 12
`GOC'. 13
102 Schedule 4, part 2, chapter 3, sections 69, 76, 81(1), 85 14
and 153, and parts 10 to 12, `company'-- 15
omit. 16
103 Schedule 4, part 2, chapter 3, sections 69, 70 and 76 and 17
parts 4 to 17, `company'-- 18
omit. 19
104 Schedule 4, part 2, chapter 3, section 70, `Company'-- 20
omit. 21
105 Schedule 4, part 2, chapter 3, section 81-- 22
relocate and renumber, in schedule 4, part 2, chapter 3, part 3, as 23
section 85A. 24
49
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
106 Schedule 4, part 2, chapter 3, section 131(2)-- 1
omit. 2
107 Schedule 4, part 2, chapter 3, section 131(3)-- 3
renumber as section 131(2). 4
108 Schedule 4, part 2, chapter 3, part 12, before section 5
146-- 6
insert-- 7
`145 Application of Corporations Act to officers of GOC 8
`(omitted)'. 9
Queensland Investment Corporation Act 1991 10
1 Long title, from `the constitution'-- 11
omit, insert-- 12
`matters relating to the Queensland Investment 13
Corporation as a government owned corporation, and 14
for various other matters'. 15
2 Section 3, definitions GOC, holding company, minor 16
interest, public company, related body corporate, 17
relevant interest, relevant particulars, statutory body, 18
statutory GOC and subsidiary-- 19
omit. 20
3 Section 3, definition Corporation-- 21
insert-- 22
50
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
1
`Note--
2
The Corporation is a government owned corporation.'.
4 Sections 5 and 12-- 3
omit. 4
5 Part 3-- 5
omit. 6
6 Section 28-- 7
relocate and renumber, in part 7, as section 37A. 8
7 Part 4-- 9
omit. 10
8 Section 36(a)-- 11
omit, insert-- 12
`(a) the GOC Act, section 174 (Preservation of leave 13
entitlements of certain former officers and employees of 14
government entities) does not apply to the Corporation 15
as a GOC; and'. 16
9 Section 36(b), first and second dot points-- 17
omit. 18
10 Section 42(2), from `the Corporation'-- 19
omit, insert-- 20
`1 October 1994.'. 21
51
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
State Financial Institutions and Metway Merger 1
Facilitation Act 1996 2
1 Schedule 3-- 3
insert-- 4
`company GOC has the meaning given under the Government 5
Owned Corporations Act 1993 before the commencement of 6
amendment 1 of that Act under the Government Owned 7
Corporations Amendment Act 2006, schedule. 8
statutory GOC has the meaning given under the Government 9
Owned Corporations Act 1993 before the commencement of 10
amendment 1 of that Act under the Government Owned 11
Corporations Amendment Act 2006, schedule.'. 12
Transport Infrastructure Act 1994 13
1 Section 2(2)(d)(vi)-- 14
omit. 15
2 Section 2(2)(e), from `by GOCs' to `1993'-- 16
omit. 17
3 Section 271(4)(a), from `bodies'-- 18
omit, insert-- 19
`GOC Act entities; and'. 20
4 Section 271(4)(b), `that Act'-- 21
omit, insert-- 22
`the Government Owned Corporations Act 1993'. 23
52
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
5 Section 272(3)-- 1
omit, insert-- 2
`(3) This section does not apply if the transfer of the management 3
of a port is from a port authority that is a GOC Act entity to 4
another port authority that is also a GOC Act entity.'. 5
6 Section 274A-- 6
omit, insert-- 7
`274A Regulation may declare GOC Act entity to be port 8
authority 9
`For a GOC Act entity, a regulation may do 1 or more of the 10
following-- 11
(a) declare the entity to be a port authority; 12
(b) prescribe the port the entity is to manage; 13
(c) revoke the declaration of the entity as a port authority.'. 14
7 Section 278(1), `or the Government Owned Corporations 15
Act 1993'-- 16
omit. 17
8 Chapter 8, part 3-- 18
insert-- 19
`278A Functions and powers of port authority that is a GOC not 20
limited 21
`This chapter does not limit the functions or powers a port 22
authority that is a GOC may have.'. 23
9 Section 290(4)-- 24
omit. 25
53
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
10 Section 294(3), dot points-- 1
omit, insert-- 2
· chapter 3 (Government Owned Corporations (GOCs)), 3
part 10 (General reserve powers of shareholding 4
Ministers) 5
· sections 146 and 147 6
· sections 168 to 175 7
· schedule 1 (Interim boards of directors) 8
· schedule 2 (Executives of candidate GOC associates and 9
associate subsidiaries).'. 10
11 Section 438-- 11
insert-- 12
`(4) This section does not limit the functions of Queensland Rail.'. 13
12 Section 463(a), `or the Government Owned Corporations 14
Act 1993'-- 15
omit. 16
13 Section 463-- 17
insert-- 18
`(2) This section does not limit the functions, powers or 19
obligations of a port authority that is a GOC.'. 20
14 Section 486(4), definition transport GOC-- 21
omit, insert-- 22
`transport GOC means a GOC on which functions are 23
conferred under this Act.'. 24
54
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
15 Schedule 6-- 1
insert-- 2
`GOC Act entity means-- 3
(a) a GOC; or 4
(b) an entity established under the Government Owned 5
Corporations Act 1993.'. 6
Transport Planning and Coordination Act 1994 7
1 Section 3, definition transport GOC, from `whose'-- 8
omit, insert-- 9
`on which functions are conferred under the Transport 10
Infrastructure Act 1994.'. 11
Water Act 2000 12
1 Section 1122(1)-- 13
insert-- 14
15
`Note--
16
SunWater is a government owned corporation.'.
2 Section 1122(5)-- 17
omit. 18
55
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
Whistleblowers Protection Act 1994 1
1 Section 7(2)(e), `GOCs or'-- 2
omit. 3
2 Section 10(6)-- 4
omit. 5
3 Section 10(7)-- 6
renumber as section 10(6). 7
4 Section 25(1), footnote, from `and division 5' to `GOCs'-- 8
omit. 9
5 Section 26(2), `division 4, 5 or 6.'-- 10
omit, insert-- 11
`division 4 or 6.4'. 12
6 Section 27(6), `4 to 6.'-- 13
omit, insert-- 14
`4 and 6.'. 15
7 Part 4, division 5-- 16
omit. 17
4 Division 4 (Limitation on disclosure process for courts, tribunals and judicial
officers) or 6 (Limitation on disclosure process for corporatised corporations)
56
Government Owned Corporations Amendment
Bill 2006
Schedule (continued)
8 Schedule 1, entry for statutory GOC-- 1
omit. 2
9 Schedule 5, section 2(1)(j)-- 3
omit. 4
10 Schedule 5, section 2(1)(k) and (l)-- 5
renumber as schedule 5, section 2(1)(j) and (k). 6
11 Schedule 5, section 2(2)(a)-- 7
omit, insert-- 8
`(a) a GOC;'. 9
© State of Queensland 2006
[Index] [Search] [Download] [Related Items] [Help]