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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia
Regional Investment Fund Bill 2001
CONTENTS
Part 1 -- Preliminary
1. Short title 2
2. Commencement 2
3. Objects 2
4. Definitions 2
Part 2 -- Administration
5. Regional Assistance Authority 4
6. Functions of Authority 4
7. Powers of Authority 4
8. Delegation 5
Part 3 -- Regional Investment Fund
9. Regional Investment Fund 7
10. Application of Financial Administration and Audit
Act 1985 7
Part 4 -- Financial support
11. Financial support 8
12. Form of financial support 8
13. Guidelines 8
14. Restrictions on provision of financial support 9
Part 5 -- General
15. Execution of documents 10
16. Regulations 11
17. Transitional provisions 11
18. Review of Act 11
page i
54--1
Regional Investment Fund Bill 2001
Contents
Schedule 1 -- Transitional provisions 12
1. Definitions 12
2. Certain agreements under Industry and Technology
Development Act 1998 have effect as if entered into
by Authority 12
3. Transfer of certain funds from the Western Australian
Industry and Technology Development Account 12
page ii
Western Australia
LEGISLATIVE ASSEMBLY
Regional Investment Fund Bill 2001
A Bill for
An Act to establish a fund to be called the Regional Investment Fund
to provide financial support for the development of regional Western
Australia, to establish the Regional Assistance Authority, and for
related purposes.
The Parliament of Western Australia enacts as follows:
page 1
Regional Investment Fund Bill 2001
Part 1 Preliminary
s. 1
Part 1 -- Preliminary
1. Short title
This Act may be cited as the Regional Investment Fund
Act 2001.
5 2. Commencement
This Act comes into operation on the day on which it
receives the Royal Assent.
3. Objects
The objects of this Act are to encourage, promote and
10 assist the development of regional Western Australia by
establishing a fund from which financial support may be
provided --
(a) to encourage the effective planning and management of the
sustainable development of regional Western Australia;
15 (b) to promote and support the strategic development of the
infrastructure and services required for the development
of regional Western Australia;
(c) to ensure the standard of delivery of government
services, and access to those services, meet the
20 requirements for the development of regional Western
Australia;
(d) to encourage and assist the broadening of the economic
base of regional Western Australia; and
(e) to maximise the potential for the generation and
25 diversification of employment in regional Western
Australia.
4. Definitions
In this Act, unless the contrary intention appears --
"Authority" means the Regional Assistance Authority
30 established by section 5;
page 2
Regional Investment Fund Bill 2001
Preliminary Part 1
s. 4
"commission" has the same meaning as it has in the Regional
Development Commissions Act 1993;
"financial support" means financial support provided under
section 11;
5 "Fund" means the Regional Investment Fund established by
section 9;
"guideline" means a regional development support guideline
approved by the Authority under section 13 and includes an
approved revision of a guideline;
10 "regional Minister" means a Minister to whom the
administration of a commission is for the time being
committed by the Governor;
"regional Western Australia" means the regions of the State
described in Schedule 1 to the Regional Development
15 Commissions Act 1993;
"the department" means the department of the Public Service
principally assisting the Minister in the administration of
this Act.
page 3
Regional Investment Fund Bill 2001
Part 2 Administration
s. 5
Part 2 -- Administration
5. Regional Assistance Authority
(1) A body called the Regional Assistance Authority is established.
(2) The Authority is a body corporate with perpetual succession.
5 (3) Proceedings may be taken by or against the Authority in its
corporate name.
(4) The Authority is to be governed by the Minister.
(5) The Minister, in the name of the Authority, is to perform the
functions, determine the policies and control the affairs of the
10 Authority.
6. Functions of Authority
The functions of the Authority are --
(a) to promote the objects of this Act; and
(b) to authorise expenditure from the Fund for the purposes
15 of providing financial support.
7. Powers of Authority
(1) The Authority has all the powers it needs to perform its
functions.
(2) Without limiting subsection (1), the Authority may for the
20 purpose of performing a function --
(a) acquire, hold, manage, improve, develop and dispose of
any real or personal property;
(b) enter into contracts or arrangements;
(c) provide, take or arrange security;
25 (d) act in conjunction with --
(i) a person or firm or a public authority or local
government; or
page 4
Regional Investment Fund Bill 2001
Administration Part 2
s. 8
(ii) a department of the Public Service or an agency
or instrumentality of the State or
Commonwealth;
(e) if the written approval of the Treasurer has been first
5 obtained, participate in any business arrangement and
acquire, hold and dispose of shares, units or other
interests in, or relating to, a business arrangement;
(f) appoint agents and attorneys and act as agent for other
persons; and
10 (g) do anything incidental to any of its powers.
(3) In this section --
"business arrangement" means a company, a partnership, a
trust, a joint venture or an arrangement for sharing profits;
"participate" includes form, promote, establish, enter, manage,
15 dissolve, wind-up, and do anything incidental to
participating in a business arrangement.
8. Delegation
(1) The Authority may, after consulting with each of the regional
Ministers, delegate to the chief executive officer or a regional
20 Minister any function of the Authority under another provision
of this Act.
(2) The delegation is to be in writing executed by the Authority.
(3) A delegation to the chief executive officer may expressly
authorise the chief executive officer to further delegate the
25 function in writing --
(a) to a specified officer of the department; or
(b) to the holder or holders for the time being of a specified
office, or class of office, in the department.
(4) A person performing a function that has been delegated to the
30 person under or as authorised under this section is to be taken to
page 5
Regional Investment Fund Bill 2001
Part 2 Administration
s. 8
do so in accordance with the terms of the delegation unless the
contrary is shown.
(5) The chief executive officer is subject to the direction and
control of the Authority in the performance of a function
5 delegated to the chief executive officer under subsection (1).
(6) A person is subject to the direction and control of the chief
executive officer in the performance of a function delegated to
the person as authorised under subsection (3).
(7) Nothing in this section limits the ability of the Authority to
10 perform a function through an agent.
page 6
Regional Investment Fund Bill 2001
Regional Investment Fund Part 3
s. 9
Part 3 -- Regional Investment Fund
9. Regional Investment Fund
(1) A fund is established called the Regional Investment Fund.
(2) The Fund is to form part of the Trust Fund constituted under
5 section 9 of the Financial Administration and Audit Act 1985.
(3) The Fund is to be credited with all moneys lawfully provided
for the purposes of this Act or received by the Authority in the
performance of its functions under this Act.
(4) The Fund is to be charged with the expenditure authorised by
10 the Authority under section 11.
10. Application of Financial Administration and Audit Act 1985
(1) The provisions of the Financial Administration and Audit
Act 1985 regulating the financial administration, audit and
reporting of departments apply to the Fund.
15 (2) For the purposes of section 52 of the Financial Administration
and Audit Act 1985, the administration of the Fund is to be
regarded as a service under the control of the department.
page 7
Regional Investment Fund Bill 2001
Part 4 Financial support
s. 11
Part 4 -- Financial support
11. Financial support
(1) The Authority may authorise expenditure from the Fund to
provide financial support for the purpose of furthering the
5 objects of this Act.
(2) Without limiting subsection (1), the Authority may authorise
expenditure under that subsection --
(a) for the financial support of works that enhance the
sustainable development of regional Western Australia;
10 (b) to establish and maintain funding programs that support
the objects of this Act or the objects or functions of a
commission established by the Regional Development
Commissions Act 1993; or
(c) for the financial support of initiatives that facilitate,
15 promote or otherwise benefit the general development of
regional Western Australia or particular projects of
significance to regional Western Australia.
12. Form of financial support
Financial support may be provided in the form of any, or any
20 combination, of the following --
(a) grants;
(b) loans;
(c) subsidies;
(d) guarantees;
25 (e) concessions on any tax, duty or charge due to the State;
(f) any other direct or indirect financial support or
assistance.
13. Guidelines
(1) The Authority is to approve regional development support
30 guidelines for the provision of financial support.
page 8
Regional Investment Fund Bill 2001
Financial support Part 4
s. 14
(2) The Authority may approve the revision of the whole or any
part of a guideline or revoke the approval of a guideline.
(3) The guidelines are not to be inconsistent with this Act or the
regulations.
5 14. Restrictions on provision of financial support
(1) Subject to this section, financial support is to be provided in
accordance with the guidelines.
(2) Subject to subsection (3), financial support in respect of which
there are no relevant guidelines may be provided only if the
10 value of the support in each case does not exceed the maximum
amount prescribed by the regulations for the purpose of this
subsection.
(3) Financial support in the form of a guarantee or concession
(whether or not in accordance with the guidelines) may be
15 provided only if the written approval of the Treasurer has been
first obtained in each case.
(4) Financial support that could not otherwise be provided under
this section may be provided only if the written approval of the
Treasurer has been first obtained in each case.
20 (5) Despite anything else in this section, financial support in the
form of a concession is subject to any written law imposing, or
relating to, the tax, duty or charge to which the concession
applies and may be provided only with the agreement of the
Minister responsible for the administration of the written law.
page 9
Regional Investment Fund Bill 2001
Part 5 General
s. 15
Part 5 -- General
15. Execution of documents
(1) The Authority is to have a common seal.
(2) A document is duly executed by the Authority if --
5 (a) the common seal of the Authority is affixed to it in
accordance with subsections (3) and (4); or
(b) it is signed on behalf of the Authority by the chief
executive officer under subsection (5).
(3) The common seal of the Authority is not to be affixed to a
10 document except as authorised by the Authority.
(4) The common seal of the Authority is to be affixed to a
document in the presence of the Minister, and the Minister is to
sign the document to attest that the common seal was so affixed.
(5) The Authority may, by writing under its seal, authorise the chief
15 executive officer to sign documents on behalf of the Authority,
either generally or subject to any conditions or restrictions
specified in the authorisation.
(6) A document purporting to be executed in accordance with this
section is to be presumed to be duly executed until the contrary
20 is shown.
(7) A document executed by the chief executive officer under this
section without the common seal of the Authority is not to be
regarded as a deed unless the chief executive officer executes it
as a deed and is authorised under subsection (5) to do so.
25 (8) When a document is produced bearing a seal purporting to be
the common seal of the Authority, it is to be presumed that the
seal is the common seal of the Authority until the contrary is
shown.
page 10
Regional Investment Fund Bill 2001
General Part 5
s. 16
16. Regulations
The Governor may make regulations prescribing all matters that
are required or permitted by this Act to be prescribed, or are
necessary or convenient to be prescribed for giving effect to the
5 purposes of this Act.
17. Transitional provisions
Schedule 1 has effect.
18. Review of Act
(1) The Minister is to carry out a review of the operation and
10 effectiveness of this Act as soon as is practicable after the
expiration of 5 years from its commencement.
(2) In the course of the review the Minister is to consider and have
regard to any matters that appear to the Minister to be relevant
to the operation and effectiveness of this Act.
15 (3) The Minister is to prepare a report based on the review and, as
soon as is practicable after the report is prepared, is to cause it
to be laid before each House of Parliament.
page 11
Regional Investment Fund Bill 2001
Schedule 1 Transitional provisions
Schedule 1 -- Transitional provisions
[s. 17]
1. Definitions
In this Schedule --
5 "Industry and Technology Account" means the Western Australian
Industry and Technology Development Account provided for by
section 15 of the Industry and Technology Act;
"Industry and Technology Act" means the Industry and Technology
Development Act 1998;
10 "Minister for State Development" means the body corporate
referred to in section 5 of the Industry and Technology Act;
"scheme" means the Regional Headworks Development Scheme, the
Regional Collocation Scheme or the Industry Relocation
Scheme, as established under the Industry and Technology Act.
15 2. Certain agreements under Industry and Technology Development
Act 1998 have effect as if entered into by Authority
(1) If --
(a) the Minister for State Development has entered into an
agreement for the purpose of giving a grant or making a loan
20 to which subclause (2) applies; and
(b) the agreement was in effect immediately before the
commencement of this Act,
the agreement has effect as if it had been entered into by the Authority
instead of the Minister for State Development.
25 (2) This subclause applies to a grant or loan that is given or made under a
scheme for the purpose of providing financial support in accordance
with Part 3 of the Industry and Technology Act.
3. Transfer of certain funds from the Western Australian Industry
and Technology Development Account
30 Moneys that, immediately before the commencement of this Act,
were standing to the credit of the Industry and Technology Account in
relation to a scheme are to be credited to the Fund.
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