PUBLIC CORPORATIONS ACT 1993

Table of Provisions

• Long Title

PART 1--Preliminary

• 1 Short title
• 3 Interpretation
• 4 References to board or directors where corporation does not have separately constituted board
• 5 Application of Act

PART 2--Ministerial control

• 6 Control and direction of public corporations
• 7 Provision of information and records to Minister
• 8 Minister's or Treasurer's representative may attend meetings
• 9 Notification of disclosure to Minister of matter subject to duty of confidence
• 10 No breach of duty to report matter to Minister

PART 3--Performance and scope of corporation's operations

• 11 General performance principles
• 12 Corporation's charter
• 13 Performance statements

PART 4--Duties and liabilities of board and directors

• 14 General management duties of board
• 15 Directors' duties of care etc
• 16 Director's duty to act honestly
• 17 Transactions with directors or associates of directors
• 18 Directors' and associates' interests in corporation or subsidiary
• 19 Conflict of interest
• 20 Removal of director
• 21 Civil liability if director or former director contravenes this Part
• 22 Immunity for directors

PART 5--Subsidiaries and indirect or joint operations

• 23 Formation etc of subsidiary companies
• 24 Formation of subsidiary by regulation
• 25 Dissolution of subsidiary established by regulation
• 26 Guarantee or indemnity for subsidiary subject to Treasurer's approval
• 27 Indirect or joint operations by public corporations

PART 6--Financial and other provisions

• 28 Guarantee by Treasurer of corporation's liability
• 29 Tax and other liabilities of corporation
• 30 Dividends
• 31 Internal audits and audit committee
• 32 Accounts and external audit
• 33 Annual reports
• 34 Remuneration of corporation's directors
• 35 Minister to be consulted as to appointment or removal of chief executive officer
• 36 Delegation
• 36A Duty of employees to act honestly
• 36B Duty of senior executives with respect to conflict of interest
• 37 Transactions with executives or associates of executives
• 38 Executives' and associates' interests in corporation or subsidiary
• 38A Duty of employees with respect to conflict of interest
• 38B Exclusion of operation of Commonwealth industrial relations legislation in specified cases
• 39 Validity of transactions of corporation
• 40 Power to investigate corporation's or subsidiary's operations
• 41 Approvals and exemptions
• 42 Proceedings for offences
• 43 Regulations
• SCHEDULE -Provisions applicable to subsidiaries
Legislative history Appendix--Divisional penalties and expiation fees