Commonwealth Numbered Regulations - Explanatory Statements

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COMMONWEALTH AUTHORITIES AND COMPANIES AMENDMENT REGULATIONS 2002 (NO. 2) 2002 NO. 226

EXPLANATORY STATEMENT

STATUTORY RULES 2002 No. 226

Issued by the Authority of the Minister for Finance and Administration

Commonwealth Authorities and Companies Act 1997

Commonwealth Authorities and Companies Amendment Regulations 2002 (No. 2)

Subsection 49(1) of the Commonwealth Authorities and Companies Act 1997 (the Act) provides that the Governor-General may make regulations prescribing matters required or permitted by the Act to be prescribed, or necessary or convenient to be prescribed for carrying out or giving effect to the Act.

The Regulations amend the Commonwealth Authorities and Companies Regulations 1997 to remove references to the Sydney Airports Corporation Limited (SACL) to reflect that it was sold on 28 June 2002 and also to remove a redundant Note that referred to the transitional arrangements that applied to the Army and Air Force Canteens Service Board of Management (AAFCSBM) to accommodate the commencement of the Act on 1 January 1998.

The amendments:

       remove SACL from the list of companies that are prescribed as government business enterprises (GBE's) for the purposes of the Act (Schedule 1, Item [1]);

       remove SACL from the list of companies for which the Minister for Finance and Administration is prescribed as the responsible Minister for the purposes of the Act (Schedule 1, Item [2]); and

       remove a Note that makes reference to the transitional arrangements that applied for 1997-98 to AAFCSBM (Schedule 1, Item [3]).

The Regulations commenced on gazettal.


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