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TERRITORY-OWNED CORPORATIONS REGULATION 2008 (NO 24 OF 2008)
Territory-owned Corporations Regulation 2008
Subordinate law SL2008–24
made under the
Territory-owned Corporations Amendment Act 2006
EXPLANATORY STATEMENT
Outline
The
regulation is an amendment to the Territory-owned Corporations Amendment Act
2006. That Act provided for the removal of Rhodium Asset Solutions Limited
from Schedule 1 of the Territory-owned Corporations Act 1990 at a date to
be fixed by the Minister or 12 months after the date of notification ie. 20
December 2007.
The Territory-owned Corporations Amendment Act 2007
delayed the default commencement date of when Rhodium is removed from Schedule 1
of the Territory-owned Corporations Act 1990 for a further 6 months to
20 June 2008 or to a date prescribed by regulation.
The objective of this
regulation is to delay the default commencement date of when Rhodium is removed
from Schedule 1 of the Territory-owned Corporations Act 1990 until
12 December 2008.
Financial Implications
The
regulation itself does not contain any significant financial implications.
However, the Territory will receive certain financial benefits from the
subsequent sale of shares of Rhodium Asset Solutions Limited.
Details
of the Regulation
Section 1 Name of
Regulation
States the name of the regulation.
Section
2 Commencement
Sets the date of commencement of the regulation to
the day after its notification.
Section 3 Amending Act
commencement
States the prescribed date that the Territory-owned
Corporations Amendment Act 2006 will commence (12 December
2008).
Section 4 Expiry of Regulation
States that the
regulation will expire the day after it has commenced.