Victorian Current Acts

STATE OWNED ENTERPRISES ACT 1992

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Purposes  
   2.      Commencement  
   3.      Definitions  
   4.      Subsidiary  
   5.      Act to prevail  
   6.      Act to bind Crown  

   PART 2--STATUTORY CORPORATIONS--REORGANISATION AND ESTABLISHMENT OF STATE BODIES

           Division 1--Reorganising bodies

   7.      Declaration of statutory corporation as reorganising body  
   8.      Boards of reorganising body  
   8A.     Functions may be altered or varied  
   9.      Reorganisation directed by Treasurer  
   10.     Determination of initial capital  
   11.     Capital  
   12.     Repayment of capital  
   13.     Dividends  
   13A.    Reports  

           Division 2--State bodies

   14.     Establishment of State body  
   14A.    Borrowing and investment powers  
   15.     Shares  
   16.     Variation of Order in Council  
   16A.    Repayment of capital  
   16B.    Dividends  
   16C.    Directions  

   PART 3--STATE BUSINESS CORPORATIONS

   17.     Declaration of State business corporation  
   18.     Objective  
   19.     Functions  
   20.     Powers  
   21.     Functions and powers may be carried on outside Victoria  
   22.     Delegation  
   23.     Board of directors  
   24.     Constitution of board  
   25.     Appointment of directors  
   26.     Terms and conditions of appointment  
   27.     Acting chairman  
   28.     Acting deputy chairman  
   29.     Acting general director  
   30.     Vacancies, resignations, removal from office  
   31.     Validity of decisions  
   32.     Proceedings of a board  
   33.     Resolutions without meetings  
   34.     Delegation by board  
   35.     Disclosure of interests  
   36.     Duties of directors  
   37.     Minister may bring proceedings  
   38.     State business corporation not to make loans to directors  
   39.     Indemnity  
   40.     Chief executive officer and deputy  
   41.     Corporate plan  
   42.     Statement of corporate intent: contents  
   43.     State business corporation to act in accordance with corporate plan  
   44.     Nothing void merely because of non-compliance  
   45.     Non-commercial functions  
   46.     Determination of initial capital  
   47.     Capital  
   48.     Repayment of capital  
   49.     Dividends  
   51.     Continuing guarantees  
   52.     Appropriation for guarantee etc.  
   53.     Reports to Treasurer  
   54.     Board to notify relevant Minister and Treasurer of significant affecting events etc.  
   55.     Half-yearly reports  

   PART 4--CONVERSION TO STATE OWNED COMPANY

   59.     Declaration of statutory corporation as converting body  
   60.     Reservation of name under Corporations Act  
   61.     Memorandum and articles  
   62.     Capital structure of converting body  
   63.     Issue of shares in converting body  
   64.     Application for registration as a company  
   65.     Status and continuity  

   PART 5--STATE OWNED COMPANIES

           Division 1--Declaration

   66.     Declaration by Governor in Council  

           Division 2--Formation of company

   67.     Treasurer may form or participate in formation of company  
   68.     Transfer of assets and liabilities  

           Division 3--Operation of State owned companies

   69.     Principal objective  
   70.     Status  
   71.     Memorandum and articles  
   72.     Non-commercial activities  
   73.     Audit by Auditor-General  
   74.     Further accounts and reports  
   75.     Treasurer to present accounts and reports to Parliament  

   PART 6--PRESCRIBED BODIES--SPECIAL INVESTIGATIONS

   76.     Definition  
   77.     Appointment of special investigators  
   78.     Powers  
   79.     Copies of documents  
   80.     Immunity  
   81.     Publication  
   82.     Reports  
   83.     Expenses of investigation  
   84.     Offences  
   85.     Power to refer matters to police etc.  

   PART 7--GENERAL

   86.     Competition and Consumer Act 2010 of the Commonwealth  
   86A.    Competition policy authorisation—VicForests  
   87.     Subsidiaries  
   88.     Tax equivalent  
   88AA.   Application of section 88 to certain bodies  
   88A.    Application of tax equivalents to other bodies  
   88B.    State owned enterprises to make certain payments  
   89.     Non-application of State taxation  
   90.     Application of certain other Acts  
   91.     Supreme Court—limitation of jurisdiction  
   92.     Regulations  
           SCHEDULE 1
           ENDNOTES