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This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
TAB QUEENSLAND LIMITED
PRIVATISATION
AMENDMENT BILL 2003
Queensland
TAB QUEENSLAND LIMITED
PRIVATISATION AMENDMENT BILL 2003
TABLE OF PROVISIONS
Section Page
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Commencement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
4 Amendment of s 18 (Definition for pt 3). . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Omission of s 24 (Cornerstone investor). . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
6 Amendment of s 26 (Prohibited shareholding interest). . . . . . . . . . . . . . . . . 4
7 Omission of pt 3, divs 3 and 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
8 Amendment of s 44 (TABQ group companies to have constitutions
containing certain provisions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
9 Amendment of s 50 (Pt 5 overrides Corporations Law) . . . . . . . . . . . . . . . . 6
2003
A BILL
FOR
An Act to amend the TAB Queensland Limited Privatisation Act 1999
s1 4 s6
TAB Queensland Limited Privatisation Amendment
Bill 2003
The Parliament of Queensland enacts-- 1
1 Short title
Clause 2
This Act may be cited as the TAB Queensland Limited Privatisation 3
Amendment Act 2003. 4
2 Commencement
Clause 5
This Act commences on a day to be fixed by proclamation. 6
3 Act amended
Clause 7
This Act amends the TAB Queensland Limited Privatisation Act 1999. 8
4 Amendment of s 18 (Definition for pt 3)
Clause 9
(1) Section 18, heading, `Definition'-- 10
omit, insert-- 11
`Definitions'. 12
(2) Section 18, definition "cornerstone investor"-- 13
omit. 14
5 Omission of s 24 (Cornerstone investor)
Clause 15
Section 24-- 16
omit. 17
6 Amendment of s 26 (Prohibited shareholding interest)
Clause 18
(1) Section 26(1), `the cornerstone investor'-- 19
omit, insert-- 20
`Tab Limited (ABN 17 081 765 308)'. 21
s7 5 s8
TAB Queensland Limited Privatisation Amendment
Bill 2003
(2) Section 26(2)-- 1
omit, insert-- 2
`(2) Tab Limited has a prohibited shareholding interest in TABQ if it is 3
entitled to voting shares in TABQ that together constitute more than 10% 4
of the total number of voting shares in TABQ unless the shares were 5
acquired under an arrangement approved by a court under the Corporations 6
Act, section 411(6) and notified by the Minister by gazette notice.'. 7
(3) Section 26(4)-- 8
omit. 9
(4) Section 26(5) and (6)-- 10
renumber as section 26(4) and (5). 11
7 Omission of pt 3, divs 3 and 4
Clause 12
Part 3, divisions 3 and 4-- 13
omit. 14
8 Amendment of s 44 (TABQ group companies to have constitutions
Clause 15
containing certain provisions) 16
(1) Section 44(2)(b)-- 17
omit, insert-- 18
`(b) at least 3 of the directors of the company to be ordinarily resident 19
in Queensland; and 20
(c) the holders of the following positions, however described, in the 21
company to be ordinarily resident in Queensland-- 22
· chief financial officer; 23
· general counsel; 24
· chief human resources officer; and 25
(d) each annual general meeting of the company to be held in 26
Queensland.'. 27
(2) Section 44(3)(c)-- 28
omit, insert-- 29
s9 6 s9
TAB Queensland Limited Privatisation Amendment
Bill 2003
`(c) in each year, at least 4 of the company's board meetings are held 1
in Queensland; and 2
(d) each meeting of the company's board held annually for the 3
purpose of strategic planning is held in Queensland.'. 4
9 Amendment of s 50 (Pt 5 overrides Corporations Law)
Clause 5
Section 50, heading, `Law'-- 6
omit, insert-- 7
`Act'. 8
© State of Queensland 2003
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