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TASMANIA
__________
GOVERNMENT BUSINESS ENTERPRISES AND
STATE-OWNED COMPANIES LEGISLATION
AMENDMENT BILL 2009
__________
CONTENTS
1. Short title
2. Commencement
3. Consequential amendments
4. Legislation rescinded
Schedule 1 - Consequential Amendments
Schedule 2 - Legislation rescinded
[Bill 8]-III
2
GOVERNMENT BUSINESS ENTERPRISES AND
STATE-OWNED COMPANIES LEGISLATION
AMENDMENT BILL 2009
(Brought in by the Premier, the Honourable David John
Bartlett)
A BILL FOR
An Act to provide for the board of directors and chief
executive officer of the Forestry corporation to be
appointed under the Government Business Enterprises Act
1995, to amend, in relation to the payment of guarantee
fees, the Government Business Enterprises Act 1995 and
certain Acts providing for the establishment of State-
owned companies and for related purposes
Be it enacted by His Excellency the Governor of Tasmania, by
and with the advice and consent of the Legislative Council and
House of Assembly, in Parliament assembled, as follows:
1. Short title
This Act may be cited as the Government
Business Enterprises and State-owned
Companies Legislation Amendment Act 2009.
2. Commencement
This Act commences on the day on which this
Act receives the Royal Assent.
[Bill 8] 3
Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
Act No. of
s. 3
3. Consequential amendments
The legislation specified in Schedule 1 is
amended as specified in that Schedule.
4. Legislation rescinded
The legislation specified in Schedule 2 is
rescinded.
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Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
Act No. of
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SCHEDULE 1 - CONSEQUENTIAL AMENDMENTS
Section 3
Forestry Act 1920
1. Section 4(1) is amended as follows:
(a) by omitting "corporation;" from the
definition of "Board" and substituting
"corporation appointed under section
11(2) of the Government Business
Enterprises Act 1995;";
(b) by omitting the definition of
"chairperson";
(c) by omitting the definition of
"Stakeholder Minister".
2. Section 12C(2) is amended by omitting "or
Stakeholder Minister" and substituting "and
Treasurer".
3. Division 2 of Part II is repealed.
4. Schedule 2 is repealed.
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Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
Act No. of
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Government Business Enterprises Act 1995
1. Section 3(1) is amended by omitting "a financial
benefit or assistance to obtain a financial benefit
arising from or as a result of" from the definition
of "financial accommodation".
2. Section 78 is repealed and the following section
is substituted:
78. Guarantee fees
(1) A Government Business Enterprise must
pay guarantee fees into the Consolidated
Fund if it has financial accommodation.
(2) The guarantee fees in respect of a
financial year that are payable by a
Government Business Enterprise are to
be calculated as specified in the
Treasurer's Instructions.
(3) The Treasurer must determine one or
more guarantee fee rates for each
Government Business Enterprise and
must notify each Government Business
Enterprise of the guarantee fee rates
applicable to it.
(4) A Government Business Enterprise
must -
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Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
Act No. of
sch. 1
(a) provide to the Treasurer
guarantee fee returns in the form
and at the times specified in the
Treasurer's Instructions; and
(b) pay its guarantee fees at the
times, and in the manner,
specified in the Treasurer's
Instructions.
3. After section 120, the following section is
inserted in Part 13:
121. Transitional provisions consequent on
Government Business Enterprises and State-
owned Companies Legislation Amendment
Act 2009
(1) In this section -
"Forestry corporation" means the
Forestry corporation established
under section 6 of the Forestry
Act 1920;
"former Act" means the Forestry Act
1920 as in force immediately
before the transfer day;
"former chairperson" means the
person who, immediately before
the transfer day, was the
chairperson of the Board of
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Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
Act No. of
sch. 1
Directors of the Forestry
corporation;
"former chief executive officer"
means the person who,
immediately before the transfer
day, was the chief executive
officer, within the meaning of the
former Act, of the Forestry
corporation;
"former director" means a person
who, immediately before the
transfer day -
(a) was a director of the
Forestry corporation
appointed under section
12E(2) of the former Act;
but
(b) was not also the former
chairperson;
"transfer day" means the day on
which the Government Business
Enterprises and State-owned
Companies Legislation
Amendment Act 2009
commences.
(2) A former director continues as a director
of the Forestry corporation, and for that
purpose he or she is taken to have been
appointed as a director of the Board of
the Forestry corporation under
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Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
Act No. of
sch. 1
section 11(2) of this Act for the term, and
on the conditions, to which his or her
appointment under section 12E(2) of the
former Act was subject.
(3) The former chairperson continues as
chairperson of the Board of the Forestry
corporation, and for that purpose he or
she is taken to have been appointed as
chairperson of the Board of the Forestry
corporation under section 11(2) of this
Act for the term, and on the conditions,
to which his or her appointment under
section 12E(3) of the former Act was
subject.
(4) The former chief executive officer
continues as a director, and as the chief
executive officer, of the Forestry
corporation, and for those purposes he or
she is taken to have been appointed as a
director of the Forestry corporation under
section 11(2) of this Act and as the chief
executive officer of the Forestry
corporation under section 18(2) of this
Act, for the term, and on the conditions,
to which his or her appointment under
section 12M of the former Act was
subject.
4. Schedule 1 is amended as follows:
(a) by inserting in Part 1 before
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Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
Act No. of
sch. 1
Hydro-Electric Corporation
the following item:
Forestry corporation established by the Forestry Act 1920
(b) by omitting from Part 2 the item relating
to the Forestry Act 1920.
Electricity Companies Act 1997
1. Section 13 is repealed and the following section
is substituted:
13. Guarantee fees
Division 1 of Part 11 of the Government
Business Enterprises Act 1995 applies in
relation to a company and a subsidiary of
a company as if -
(a) the company were a Government
Business Enterprise specified in
Schedule 3 to that Act; and
(b) the subsidiary were a subsidiary
within the meaning of that Act.
Metro Tasmania Act 1997
1. Section 14 is repealed and the following section
is substituted:
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Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
Act No. of
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14. Guarantee fees
Division 1 of Part 11 of the Government
Business Enterprises Act 1995 applies in
respect of the Company as if the
Company were a Government Business
Enterprise specified in Schedule 3 to that
Act.
2. Section 16 is amended by omitting "specified in
Schedule 2 to" and substituting "under".
Tasmanian Ports Corporation Act 2005
1. Section 17 is repealed and the following section
is substituted:
17. Guarantee fees
(1) Division 1 of Part 11 of the Government
Business Enterprises Act 1995 applies in
relation to the Corporation and a
subsidiary of the Corporation as if -
(a) the Corporation were a
Government Business Enterprise
specified in Schedule 3 to that
Act; and
(b) the subsidiary were a subsidiary
within the meaning of that Act.
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Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
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(2) Any Treasurer's Instructions issued
under the Government Business
Enterprises Act 1995 providing for
guidelines in respect of -
(a) the determination, calculation and
payment of guarantee fees; or
(b) any other matter relating to
guarantee fees -
apply to the Corporation or a subsidiary
of the Corporation as if the Corporation
or subsidiary were a Government
Business Enterprise under that Act.
TOTE Tasmania Act 2000
1. Sections 16 and 17 are repealed and the
following sections are substituted:
16. Guarantee fees
Division 1 of Part 11 of the Government
Business Enterprises Act 1995 applies in
respect of the Company and a subsidiary
of the Company as if -
(a) the Company were a Government
Business Enterprise specified in
Schedule 3 to that Act; and
(b) the subsidiary were a subsidiary
within the meaning of that Act.
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Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
Act No. of
sch. 1
17. Tax equivalents
Part 10 of the Government Business
Enterprises Act 1995 applies in respect
of the Company and a subsidiary of the
Company as if -
(a) the Company were a Government
Business Enterprise specified in
Schedule 2 to that Act; and
(b) the subsidiary were a subsidiary
within the meaning of that Act.
2. Section 19 is repealed and the following section
is substituted:
19. Treasurer's Instructions
Any Treasurer's Instructions issued
under the Government Business
Enterprises Act 1995 providing for
guidelines relating to the determination,
calculation and payment of income tax
equivalents and guarantee fees and other
related matters, including
superannuation, apply to the Company or
a subsidiary of the Company as if it were
a Government Business Enterprise under
that Act.
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Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
Act No. of
sch. 1
TT-Line Arrangements Act 1993
1. After section 17, the following section is inserted
in Part 2:
17A. Guarantee fees
Division 1 of Part 11 of the Government
Business Enterprises Act 1995 applies in
relation to the Company and a subsidiary
of the Company as if the Company were
a Government Business Enterprise
specified in Schedule 3 to that Act and
the subsidiary were a subsidiary within
the meaning of that Act.
2. After section 18, the following section is inserted
in Part 2:
18A. Treasurer's Instructions
Any Treasurer's Instructions issued
under the Government Business
Enterprises Act 1995 providing for
guidelines relating to the determination,
calculation and payment of income tax
equivalents and guarantee fees and other
related matters apply to the Company or
its subsidiary as if the Company or
subsidiary were a Government Business
Enterprise under that Act.
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Government Business Enterprises and State-owned Companies
Legislation Amendment Act 2009
Act No. of
sch. 2
SCHEDULE 2 - LEGISLATION RESCINDED
Section 4
Government Business Enterprises Regulations 2005 (No. 131
of 2005)
Government Printer, Tasmania 15