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This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
TOBACCO INDUSTRY
(RESTRUCTURING) BILL
1996
Queensland
TOBACCO INDUSTRY
(RESTRUCTURING) BILL 1996
TABLE OF PROVISIONS
Section Page
PART 1--PRELIMINARY
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Objects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3 Dictionary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
PART 2--TRANSFER OF BOARD'S ASSETS AND LIABILITIES
TO THE ASSOCIATION
4 Transfer of assets and liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
5 How net value of transferred assets is to be decided . . . . . . . . . . . . . . . . . . 5
6 Effect of transfer of assets and liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
PART 3--SHARE DISTRIBUTION SCHEME
7 Share distribution scheme . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
8 Shares are to be fully paid-up . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
9 Value of shares to be issued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
10 Total number of shares to be issued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
11 Grower's share entitlement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
12 Consideration for shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
PART 4--ADMINISTRATION OF BOARD
13 Administration of board after transfer day . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
14 Board's powers after transfer day . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
15 Board's costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
PART 5--DISTRIBUTION OF SHARES IN THE ASSOCIATION
16 Invitation to take up shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
17 Quota holder may nominate another person to take up shares . . . . . . . . . . . 9
2
Tobacco Industry (Restructuring)
18 Forfeited shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
19 Distribution of shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
PART 6--DISSOLUTION OF BOARD
20 Administrator to notify Minister . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
21 Dissolution day for board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
PART 7--MISCELLANEOUS
22 Regulation-making power . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
23 Expiry of Act . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
PART 8--TRANSITIONAL PROVISIONS
24 Staff . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
25 Continuity of proceedings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
26 First directors of association . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
PART 9--REPEALS AND AMENDMENTS
27 Repeal of Tobacco Industry Stabilisation Act 1965 . . . . . . . . . . . . . . . . . . . 11
28 Amendments of other Acts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
SCHEDULE 1 . . . . . . . . . . . . . . . . . . . . . . . . 13
AMENDMENTS OF OTHER ACTS
PART 1--CONSEQUENTIAL AMENDMENTS
PRIMARY PRODUCERS' ORGANISATION AND MARKETING
ACT 1926 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
PART 2--OTHER AMENDMENTS
CHEMICAL USAGE (AGRICULTURAL AND VETERINARY)
CONTROL ACT 1988 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
CITY OF BRISBANE MARKET ACT 1960 . . . . . . . . . . . . . . . . . . . . . . . . 14
GRAIN INDUSTRY (RESTRUCTURING) ACT 1991 . . . . . . . . . . . . . . . . 14
GRAIN RESEARCH FOUNDATION ACT 1976 . . . . . . . . . . . . . . . . . . . . . 14
SUGAR INDUSTRY ACT 1991 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
VETERINARY SURGEONS ACT 1936 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
SCHEDULE 2 . . . . . . . . . . . . . . . . . . . . . . . . 16
DICTIONARY
1996
A BILL
FOR
An Act about the Queensland tobacco industry, and for other
purposes
s1 4 s3
Tobacco Industry (Restructuring)
The Parliament of Queensland enacts-- 1
PART 1--PRELIMINARY 2
title 3
Short
1. This Act may be cited as the Tobacco Industry (Restructuring) Act 4
1996. 5
6
Objects
2. The objects of this Act are to-- 7
(a) restructure the Queensland tobacco industry; and 8
(b) transfer the assets and liabilities of the Tobacco Leaf Marketing 9
Board to the Queensland Tobacco Marketing Cooperative 10
Association Limited; and 11
(c) wind-up the board; and 12
(d) equitably distribute shares in the capital of the association among 13
growers and in this way enable growers to take part in the 14
association's affairs. 15
16
Dictionary
3. The dictionary in schedule 2 defines particular words used in this Act.1 17
1 In some Acts, definitions are contained in a dictionary that appears as the last
schedule and forms part of the Act--Acts Interpretation Act 1954, section 14(4).
s4 5 s6
Tobacco Industry (Restructuring)
ART 2--TRANSFER OF BOARD'S ASSETS AND 1
P
LIABILITIES TO THE ASSOCIATION 2
of assets and liabilities 3
Transfer
4.(1) The board's assets and liabilities are transferred to the association 4
on the transfer day and become assets and liabilities of the association. 5
(2) In consideration of the transfer, the association must issue shares to 6
the board in accordance with the share distribution scheme. 7
net value of transferred assets is to be decided 8
How
5.(1) The net value of the board's transferred assets is to be decided by 9
agreement between the association and the board's administrator. 10
(2) If the association and the board's administrator do not agree on the 11
value, the Minister must decide the value on the basis of professional 12
advice. 13
(3) If the Minister decides the value, the association must pay costs 14
reasonably incurred by the Minister in obtaining professional advice on 15
which to base the decision. 16
of transfer of assets and liabilities 17
Effect
6. Although the transfer takes effect by force of this part-- 18
(a) instruments of transfer between the board and the association 19
must be executed and, if appropriate, registered as if the transfer 20
were made by the board on the sale of its undertakings to the 21
association; and 22
(b) the instruments attract stamp duty as if they were transfers on 23
sale; and 24
(c) the association is liable for the costs of preparing, stamping and 25
registering the instruments. 26
s7 6 s 12
Tobacco Industry (Restructuring)
ART 3--SHARE DISTRIBUTION SCHEME 1
P
distribution scheme 2
Share
7. Shares in the association are to be distributed among growers in 3
accordance with this part. 4
are to be fully paid-up 5
Shares
8. The shares issued to growers must be fully paid-up shares with a face 6
value of $0.25 a share. 7
of shares to be issued 8
Value
9. The total value of shares to be issued must equal the net value of the 9
transferred assets. 10
number of shares to be issued 11
Total
10. The total number of shares to which growers are entitled is to be 12
worked out by dividing the net value of the transferred assets by the face 13
value of the shares. 14
share entitlement 15
Grower's
11.(1) Only growers who are quota holders or nominees of quota 16
holders are entitled to shares. 17
(2) A grower's share entitlement is to be worked out by dividing the 18
grower's basic quota by the total basic quota and multiplying the result by 19
the total number of shares to be issued. 20
for shares 21
Consideration
12. The shares to which growers are entitled are the shares issued to the 22
board in consideration of the transfer of assets under part 2. 23
s 13 7 s 13
Tobacco Industry (Restructuring)
ART 4--ADMINISTRATION OF BOARD 1
P
of board after transfer day 2
Administration
13.(1) On the transfer day, the board's directors stop holding office 3
(without any right to compensation for loss of office). 4
(2) From the transfer day-- 5
(a) the board's constitution is suspended and the board is to be 6
administered by an administrator; and 7
(b) the administrator has all the powers and functions of the board 8
(so far as the board continues to have powers and functions under 9
this Act). 10
(3) The board's administrator is the person who holds office as the 11
board's chairperson immediately before the transfer day. 12
(4) However, the Minister may appoint an administrator if-- 13
(a) there is no chairperson to assume the office of administrator 14
under subsection (3); or 15
(b) the chairperson is unwilling to undertake the duties of 16
administrator; or 17
(c) the administrator dies or stops holding office. 18
(5) A person is eligible to be appointed as the board's administrator if the 19
person-- 20
(a) is a former member of the board; or 21
(b) has extensive experience of the tobacco industry as a grower or an 22
administrator; or 23
(c) has qualifications and experience in public administration or 24
financial administration. 25
(6) The administrator stops holding office if the administrator-- 26
(a) resigns by signed notice given to the Minister; or 27
(b) completes a term of office and is not reappointed; or 28
(c) is convicted of an indictable offence; or 29
s 14 8 s 15
Tobacco Industry (Restructuring)
(d) is removed from office by the Governor in Council under 1
subsection (7). 2
(7) The Governor in Council may remove the administrator from office 3
if the administrator-- 4
(a) engages in misbehaviour; or 5
(b) becomes incapable of performing the duties of the administrator 6
because of physical or mental incapacity; or 7
(c) is incompetent; or 8
(d) does anything the Governor in Council considers is a reasonable 9
and sufficient justification for removal from office. 10
(8) An administrator is entitled to remuneration at a rate decided by the 11
association. 12
(9) On the dissolution day, the administrator ceases to hold office 13
(without any right to compensation for loss of office). 14
powers after transfer day 15
Board's
14.(1) As from the transfer day, the powers the board had apart from this 16
Act are suspended and it has the following powers-- 17
(a) to distribute shares under part 5 and to do anything necessary for 18
or incidental to the distribution of the shares; 19
(b) to execute any instrument of transfer or other document to 20
evidence or give effect to the transfer of assets and liabilities 21
under this Act. 22
(2) In any proceeding, a document apparently bearing the board's 23
common seal and the administrator's signature is evidence that the 24
document was properly executed by the board. 25
costs 26
Board's
15. The association must pay any costs incurred by the board after the 27
transfer day (including the administrator's remuneration). 28
s 16 9 s 19
Tobacco Industry (Restructuring)
ART 5--DISTRIBUTION OF SHARES IN THE 1
P
ASSOCIATION 2
to take up shares 3
Invitation
16.(1) After shares have been issued to the board in consideration of the 4
transfer of assets, the administrator must invite applications for the shares 5
from quota holders. 6
(2) The invitation must be made by letter sent to each quota holder. 7
(3) A quota holder is entitled to the number of shares decided under the 8
share distribution scheme. 9
holder may nominate another person to take up shares 10
Quota
17. The quota holder may nominate another person who is a genuine 11
grower to receive all or part of the holder's share entitlement. 12
shares 13
Forfeited
18.(1) Shares that are not taken up by a quota holder or the holder's 14
nominee are forfeited to the association. 15
(2) If a person is entitled to a part of a share under the share distribution 16
scheme, the part of the share is also forfeited to the association. 17
(3) The value of the forfeited shares or portion of the shares must be 18
credited to a reserve of the association. 19
of shares 20
Distribution
19.(1) The administrator must distribute the shares by way of gratuitous 21
transfer. 22
(2) A person's acceptance of a gratuitous transfer of shares is sufficient 23
to signify that the person agrees to be bound by the association's rules. 24
s 20 10 s 24
Tobacco Industry (Restructuring)
ART 6--DISSOLUTION OF BOARD 1
P
to notify Minister 2
Administrator
20. The administrator must notify the Minister when the administrator 3
finishes distributing the shares. 4
day for board 5
Dissolution
21.(1) A regulation must be made appointing a day (the "dissolution 6
day") for the dissolution of the board. 7
(2) The board is dissolved on the dissolution day. 8
ART 7--MISCELLANEOUS 9
P
power 10
Regulation-making
22. The Governor in Council may make regulations under this Act. 11
of Act 12
Expiry
23.(1) This Act expires on 31 December 1997. 13
(2) The expiry of this Act does not give rise to any right to 14
compensation. 15
ART 8--TRANSITIONAL PROVISIONS 16
P
17
Staff
24.(1) On the transfer day, the board's staff become staff of the 18
association without interruption of continuity of service, or prejudice to 19
s 25 11 s 27
Tobacco Industry (Restructuring)
existing or accruing rights in respect of employment. 1
(2) This section expires on the day after the transfer day. 2
of proceedings 3
Continuity
25.(1) A proceeding by or against the board that has not been finished 4
before the transfer day may be continued and finished by or against the 5
association. 6
(2) If action could have been taken by or against the board (if the board 7
had continued to exist), the right of action is taken to be a right of action by 8
or against the association. 9
(3) This section expires on the day after the transfer day. 10
directors of association 11
First
26.(1) The first directors of the association remain in office until they call 12
a special general meeting of the association at which all the directors must 13
retire. 14
(2) The meeting must not be held before the dissolution day but must not 15
be held later than 3 months after the dissolution day. 16
(3) This section has effect despite anything to the contrary in the 17
association's rules or in the Primary Producers' Cooperative Associations 18
Act 1923. 19
(4) This section expires on the day after the transfer day. 20
ART 9--REPEALS AND AMENDMENTS 21
P
of Tobacco Industry Stabilisation Act 1965 22
Repeal
27. The Tobacco Industry Stabilisation Act 1965 is repealed on the 23
transfer day. 24
s 28 12 s 28
Tobacco Industry (Restructuring)
of other Acts 1
Amendments
28. Schedule 1 amends the Acts it mentions. 2
13
Tobacco Industry (Restructuring)
CHEDULE 1 1
¡S
AMENDMENTS OF OTHER ACTS 2
section 28 3
PART 1--CONSEQUENTIAL AMENDMENTS 4
RIMARY PRODUCERS' ORGANISATION AND 5
´P
MARKETING ACT 1926 6
1. Section 34B-- 7
omit. 8
2. Schedule 1-- 9
omit. 10
PART 2--OTHER AMENDMENTS 11
HEMICAL USAGE (AGRICULTURAL AND 12
´C
VETERINARY) CONTROL ACT 1988 13
1. Section 38, heading-- 14
omit, insert-- 15
`Regulation-making power'. 16
14
Tobacco Industry (Restructuring)
SCHEDULE 1 (continued)
ITY OF BRISBANE MARKET ACT 1960 1
´C
1. Section 48, heading-- 2
omit, insert-- 3
`Regulation-making power'. 4
RAIN INDUSTRY (RESTRUCTURING) ACT 1991 5
´G
1. Section 80-- 6
omit, insert-- 7
`Regulation-making power 8
`80. The Governor in Council may make regulations under this Act.'. 9
GRAIN RESEARCH FOUNDATION ACT 1976 10
´
1. Section 4, heading-- 11
omit, insert-- 12
`Definitions'. 13
2. Section 28-- 14
omit, insert-- 15
`Regulation-making power 16
`28. The Governor in Council may make regulations under this Act.'. 17
15
Tobacco Industry (Restructuring)
SCHEDULE 1 (continued)
UGAR INDUSTRY ACT 1991 1
´S
1. Section 106, heading-- 2
omit, insert-- 3
`Definitions for pt 7'. 4
2. Section 242, heading-- 5
omit, insert-- 6
`Regulation-making power'. 7
VETERINARY SURGEONS ACT 1936 8
´
1. Section 21(1)(a)-- 9
omit, insert-- 10
`(a) who becomes incapable of performing the duties of a veterinary 11
surgeon because of physical or mental incapacity; or'. 12
2. Section 37, heading-- 13
omit, insert-- 14
`Regulation-making power'. 15
16
Tobacco Industry (Restructuring)
CHEDULE 2 1
¡S
ICTIONARY 2
D
section 3 3
"association" means the Queensland Tobacco Marketing Cooperative 4
Association Limited registered under the Primary Producers' 5
Cooperative Associations Act 1923. 6
"board" means the Tobacco Leaf Marketing Board established under the 7
Primary Producers' Organisation and Marketing Act 1926. 8
"dissolution day" means the day fixed by regulation for the board's 9
winding-up. 10
"genuine grower" means a person who-- 11
(a) produced and delivered tobacco leaf to the board in the 199596 12
crop year; or 13
(b) immediately before the transfer day, was the holder of a contract 14
with the board for the production and delivery of tobacco leaf for 15
the 199697 crop year. 16
"grower" means a person who grows tobacco leaf in Queensland. 17
"grower's basic quota" means a grower's basic quota allocated under the 18
Tobacco Industry Stabilisation Act 1965 immediately before the 19
transfer day. 20
"net value of the board's transferred assets" means the amount by 21
which the market value of the board's assets exceeds its liabilities as at 22
the transfer day. 23
"quota holder" means a grower holding a grower's basic quota 24
immediately before the transfer day. 25
"share distribution scheme" means the scheme for distributing shares 26
among growers under part 3. 27
17
Tobacco Industry (Restructuring)
SCHEDULE 2 (continued)
"total basic quota" means the total of all growers basic quotas 1
immediately before the transfer day. 2
"transfer day" means 1 September 1996. 3
4
© State of Queensland 1996
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