New South Wales Consolidated Acts

STATE OWNED CORPORATIONS ACT 1989

- As at 1 July 2023 
- Act 134 of 1989 

TABLE OF PROVISIONS

           Long Title

   PART 1 - PRELIMINARY

   1.      Name of Act
   2.      Commencement
   3.      Definitions
   3A.     Classes of State owned corporations

   PART 2 - COMPANY SOCS

           Division 1 - Establishment of company SOCs

   4.      Establishment of company SOCs
   5.      Change or removal of name of company
   6.      Authorisation to participate in formation of companies
   7.      Transfer of assets and liabilities etc
   7A.     Ministerial direction
   7B.     Inter-relationship with Corporations legislation

           Division 2 - Provisions relating to company SOCs

   8.      Principal objectives of company SOCs
   9.      Status of company SOCs
   10.     Directors
   10A.    Authority for Minister to act for and on behalf of a voting shareholder
   11.     Non-commercial activities
   12.     Constitutions of company SOCs
   13.     Constitutions of subsidiaries
   14.     Dividends
   15.     Tax-equivalents
   16.     Government guarantee
   17.     State taxation
   18.     Subsidiaries
   19.     Acquisition and disposal of assets etc
   20.     Sale or disposal of main undertaking

   PART 3 - STATUTORY SOCS

           Division 1 - Establishment of statutory SOCs

   20A.    Establishment of statutory SOCs
   20B.    Change or removal of name of statutory SOC
   20C.    Transfer of assets, rights and liabilities
   20D.    Ministerial direction

           Division 2 - Provisions relating to statutory SOCs

   20E.    Principal objectives of statutory SOCs
   20F.    Status of statutory SOCs
   20G.    Application of Commonwealth Corporations Act 2001
   20H.    Share capital, shares and shareholders
   20HA.   Authority for Minister to act for and on behalf of a voting shareholder
   20I.    Portfolio Minister
   20J.    Directors
   20K.    Chief executive officer
   20L.    Operation and management
   20M.    Staff
   20N.    Non-commercial activities
   20O.    Power of portfolio Minister to notify board of public sector policies
   20P.    Power of portfolio Minister to give directions in public interest
   20Q.    Constitution of statutory SOCs
   20R.    Constitution of subsidiaries
   20S.    Dividends
   20T.    Tax-equivalents
   20U.    Government guarantee
   20V.    State taxation
   20W.    Private corporations and subsidiaries
   20X.    Acquisition and disposal of assets, investments and liabilities
   20Y.    Sale or disposal of main undertaking

           Division 3 - Legal capacity and powers of statutory SOCs

   20Z.    Interpretation
   20ZA.   Objects of Division
   20ZB.   General powers of statutory SOCs
   20ZC.   Restrictions on statutory SOCs
   20ZD.   Persons having dealings with statutory SOCs or property
   20ZE.   Effect of fraud

   PART 4 - ACCOUNTABILITY

   21.     Statement of corporate intent: timetable and procedure
   22.     Statement of corporate intent: contents
   23.     Half-yearly reports
   24.     Annual reports and financial reports: company SOCs
   24A.    Annual reporting information: statutory SOCs
   25.     Special reports of Auditor-General
   26.     Information to be laid before Parliament
   27.     Procedure if Parliament not in session
   28.     Public Accounts Committee
   29.     Other information to be supplied
   30.     Application of this Part to corporations with no subsidiaries

   PART 5 - MISCELLANEOUS

   31.     Crown bound
   32.     Application of Act in particular cases
   33.     Operation of Act
   33A.    Duties and liabilities of directors and other officers
   33AA.   Liability of directors and other officers in respect of particular obligations
   33B.    Offences
   34.     Provisions relating to certain staff
           35, 35A. (Repealed)
   36.     Application of other Acts
   37.     (Repealed)
   37A.    Modification of Environmental Planning and Assessment Act 1979 in its application to certain proposals
   37B.    Establishment of Ministerial Holding Corporation
   38.     Regulations
   39.     Savings and transitional provisions
           SCHEDULE 1
           SCHEDULE 2
           SCHEDULE 3
           SCHEDULE 4
           SCHEDULE 5
           SCHEDULE 6
           SCHEDULE 7
           SCHEDULE 8
           SCHEDULE 9
           SCHEDULE 10
           SCHEDULE 11