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1
Gladstone Power Station Agreement Amendment
GLADSTONE POWER STATION
AGREEMENT AMENDMENT BILL 1997
EXPLANATORY NOTES
GENERAL OUTLINE
Objectives of the legislation
The objective of the Bill is to amend the Gladstone Power Station
Agreement Act 1993 ("Act") to provide for approval of variations to the
State Agreement ("Agreement") by way of an Act, in addition to the
approval by regulation as presently provided.
Reasons for the objectives and how they will be achieved
Rights and obligations of the various parties pursuant to the sale of the
Gladstone Power Station are enshrined in the Agreement which is
authorised by the Act. The Act provides for amendments to the Agreement
to be approved by regulation.
Amendments to the Agreement are necessary following amendments to
the Electricity Act 1994 by the Electricity Amendment Act (No.2) 1997 and
also to accommodate the commencement of the Queensland Interim Market
Code.
Whilst the Act currently provides for approval of amendments to the
Agreement by regulation, it is necessary to provide for amendments to be
approved by primary legislation in order to meet the timetable for
commencement of the Market Code.
Hence, the Bill provides for approval of variations to the Agreement by
way of an Act, in addition to the approval by regulation as presently
provided.
Administrative cost to Government of implementation
It is expected that the Bill will not impose any significant additional costs
on the Government.
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Gladstone Power Station Agreement Amendment
Consistency with Fundamental Legislative Principles
The Bill is consistent with Fundamental Legislative Principles.
Consultation
The GPS participants and the Departments of Premier and Cabinet,
Economic Development and Trade, Mines and Energy and Treasury have
been consulted on the Bill.
NOTES ON PROVISIONS
Clause 1 sets out the short title for the Bill.
Clause 2 provides for the commencement of the Act on a day to be fixed
by proclamation.
Clause 3 provides that the Act amends the Gladstone Power Station
Agreement Act 1993.
Clause 4 amends section 3 (Minister may make agreement substantially
in form of agreement) by replacing "the Schedule" with "Schedule 1".
Clause 5 amends section 5 (Amendment to State Agreement) to allow
amendments to the State Agreement to be approved by Act, as well as by
regulation.
Clause 6 inserts a new section 5A (Approval of proposed further
agreement) which specifically approves the further agreement set out in
schedule 2.
Clause 7 amends section 6 (Amendment of schedule 2 to State
Agreement) to allow amendments to Schedule 2 to the State Agreement to
be approved by Act, as well as by regulation.
Clause 8 amends the heading to the schedule by replacing
"SCHEDULE" with "SCHEDULE 1".
Clause 9 inserts a new schedule 2 (Further agreement amending State
Agreement) which sets out the further agreement referred to in the new
section 5A inserted by clause 6.
© The State of Queensland 1997