GOVERNMENT BUSINESS ENTERPRISES ACT 1995

Tasmanian Consolidated Acts

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GOVERNMENT BUSINESS ENTERPRISES ACT 1995

- Act 22 of 1995
- Royal Assent 1 September 1995

TABLE OF PROVISIONS

Long Title

PART 1 - Preliminary

1. Short title
2. Commencement
3. Interpretation
3A. Associated entities
3B. Material personal interest
4. Subsidiaries
5. Relationship between this Act and Portfolio Act

PART 2 - Legal entity, objectives, functions and powers of Government Business Enterprise

6. Legal entity of Government Business Enterprise
7. Principal objectives of Government Business Enterprise
8. Functions of Government Business Enterprise
9. Powers of Government Business Enterprise
10. Limitation on powers

PART 2A - Notice of Transfer

10A. Notice of transfer

PART 3 - Board of Directors of Government Business Enterprise

11. Board
12. Role of Board
13. Duty to notify Treasurer and Portfolio Minister of adverse developments
14. Powers of Board
15. Delegation
16. Committees
17. Acting directors

PART 4 - Staff of Government Business Enterprise

Division 1 - Chief executive officer

18. Chief executive officer
19. Role of chief executive officer
20. Acting chief executive officer
20A. Effect of chief executive officer ceasing to be chief executive officer
20B. Annual performance review

Division 2 - Other staff

21. Staff

Division 3 - Miscellaneous matters relating to staff

22. Superannuation
23. Long Service Leave (State Employees) Act 1994 does not apply

PART 5 - Powers and duties of, offences by and indemnification of directors and staff

23A. Power of former director to access records
23B. Power of director to access records
24. Duties of officers and employees
25. Duty to prevent insolvent trading
26. False or misleading information
27. Reliance on information or advice
28. Director to disclose material personal interest
28A. Board may declare material personal interest
28B. Standing notice of director's interest
28C. Restriction on director's participation in case of material personal interest
28D. Director may be required to divest of material personal interest
29. Civil penalty order
30. Proceedings under this Part prevail
31. Proceedings for offence
32. Effect of conviction for offence
33. Compensation and other payments for contravention of this Part
34. Indemnifying officers
35. Premiums for certain liabilities of officers

PART 6 - Charters and plans

Division 1 - Ministerial charter

36. Ministerial charter
37. Contents of ministerial charter
38. Compliance with ministerial charter

Division 2 - Plans of a Government Business Enterprise

39. Corporate plan
40. Consultation with Portfolio Minister and Treasurer
41. Statement of corporate intent
42. Validity of actions, &c.

PART 7 - Financial affairs of Government Business Enterprise generally

43. Authorised deposit-taking institution accounts
44. Investment
45. Borrowing from Treasurer
46. Capital contribution by Treasurer
47. Borrowing from person other than Treasurer
48. Financial arrangements
49. Effect of Financial Agreement Act 1994
50. Government Business Enterprise or subsidiary not exempt from State charges

PART 8 - Accounting records, financial statements and reports of Government Business Enterprises

51. Accounting records
52. Financial statements
53.
54.
55. Annual report
56. Tabling of annual report
57. Quarterly reports
58. Additional information

PART 9 - Community service obligations

59. Community service obligation defined
60. Application for declaration of community service obligation
61. Declaration of community service obligation
62. Costing basis for community service obligation
63. Funding of community service obligation
64. Review of costing basis and funding arrangement
64A. Amendment or revocation of declaration of community service obligation
65. Ministerial direction to perform community service obligation

PART 10 - Tax equivalents payable by Government Business Enterprise and subsidiary

Division 1 - Preliminary

66. Application of Part 10
67. Interpretation of Part 10

Division 2 - Liability to pay income tax equivalent

68. Liability to pay income tax equivalent

Division 3 - Payment, &c., of income tax equivalents by prescribed Government Business Enterprises and prescribed subsidiaries

69. Agreements in respect of payment of income tax equivalent by prescribed Government Business Enterprise and prescribed subsidiary
70. Application of agreement

Division 3A - Payment, &c., of income tax equivalents by non-prescribed Government Business Enterprises and non-prescribed subsidiaries

71. Payment of income tax equivalent
72. Estimate of income tax equivalent
73. Penalty for late payment
74. Objections
74A. Agreement to administer payment, &c., of income tax equivalent

Division 4 - Miscellaneous

75. Waiver of income tax equivalent
76.

PART 11 - Guarantee fees and dividends payable by Government Business Enterprise

Division 1 - Guarantee fees

77. Application of Division 1
78. Guarantee fees
79. Variation of guarantee fee
80. Penalty for late payment of guarantee fee
81. Deferral or waiver of payment

Division 2 - Dividends

82. Application of Division 2
83. Recommendation for dividend payable
84. Determination of dividend
85. Interim dividend
86. Special dividend
87. Payment of dividend, interim dividend and special dividend
88. Penalty for late payment of dividend, interim dividend or special dividend
89. Deferral or waiver of payment

PART 12 - Transitional provisions on statutory authority becoming Government Business Enterprise

90. Transfer of employees and rights
91. Initial chief executive officer
92. Initial directors
93. Initial acting directors and acting chief executive officer
94. Application of Long Service Leave (State Employees) Act 1994
95. Superannuation
96. Continuation of statutory authority on becoming a Government Business Enterprise
97. Transfer of Crown land
98. Transfer of property other than Crown land
99. Sinking fund contributions
100. Borrowings from Treasurer

PART 13 - Miscellaneous

101. Register of interests
102. General investigations of Government Business Enterprise
103. Obstruction of investigation
104. Seal of Government Business Enterprise
105. Judicial notice of certain signatures
106. Presumptions
107. Service of documents
108. Application of Crown Lands Act 1976
109. Application of Traffic Act 1925 and Vehicle and Traffic Act 1999
110. Government Business Enterprise not Crown for certain purposes
111. Application of Land Acquisition Act 1993
112.
113. Recovery of payments
114. Treasurer's Instructions
115. Compliance with Treasurer's Instructions
116. Amendment of Schedules 1, 2, 3, 4 and 8
117. Validity of act not affected by failure to consult, &c.
118. Delegation by Portfolio Minister or Treasurer
119. This Act not taxing Act
120. Regulations
121. Transitional provisions consequent on Government Business Enterprises and State-owned Companies Legislation Amendment Act 2009
122.
122A.
123.
SCHEDULE 1
SCHEDULE 1A
SCHEDULE 2
SCHEDULE 3
SCHEDULE 4
SCHEDULE 5
SCHEDULE 6
SCHEDULE 7
SCHEDULE 8
SCHEDULE 9

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