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This is a Bill, not an Act. For current law, see the Acts databases.
2013-2014-2015
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Australian River Co. Limited Bill 2015
No. , 2015
(Finance)
A Bill for an Act to deal with matters relating to
Australian River Co. Limited, and for related
purposes
No. , 2015
Australian River Co. Limited Bill 2015
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
4
Extended geographic application of this Act ..................................... 2
Schedule 1--The Australian River Co. Limited
3
Part 1--Preliminary
3
Part 2--Transfer of assets and liabilities of ARCo
4
Part 3--Transfer of other matters relating to ARCo
6
Part 4--Other matters
8
No. , 2015
Australian River Co. Limited Bill 2015
1
A Bill for an Act to deal with matters relating to
1
Australian River Co. Limited, and for related
2
purposes
3
The Parliament of Australia enacts:
4
1 Short title
5
This Act may be cited as the Australian River Co. Limited Act
6
2015.
7
2 Commencement
8
(1) Each provision of this Act specified in column 1 of the table
9
commences, or is taken to have commenced, in accordance with
10
column 2 of the table. Any other statement in column 2 has effect
11
according to its terms.
12
13
2
Australian River Co. Limited Bill 2015
No. , 2015
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. Sections 1 to 4
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1
A single day to be fixed by Proclamation.
However, if the provisions do not commence
within the period of 12 months beginning on
the day this Act receives the Royal Assent,
the provisions are repealed on the day after
the end of that period.
Note:
This table relates only to the provisions of this Act as originally
1
enacted. It will not be amended to deal with any later amendments of
2
this Act.
3
(2) Any information in column 3 of the table is not part of this Act.
4
Information may be inserted in this column, or information in it
5
may be edited, in any published version of this Act.
6
3 Schedules
7
Legislation that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
4 Extended geographic application of this Act
12
This Act applies both within and outside Australia.
13
The Australian River Co. Limited Schedule 1
Preliminary Part 1
No. , 2015
Australian River Co. Limited Bill 2015
3
Schedule 1
--The Australian River Co. Limited
1
Part 1
--Preliminary
2
1 Definitions
3
In this Schedule:
4
ARCo means the Australian River Co. Limited (ACN 008 654 206).
5
asset means:
6
(a) any legal or equitable estate or interest in real or personal
7
property, whether actual, contingent or prospective; and
8
(b) any right, power, privilege or immunity, whether actual,
9
contingent or prospective.
10
assets official, in relation to an asset other than land, means the person
11
or authority who, under a law of the Commonwealth, a State or a
12
Territory, under a trust instrument or otherwise, has responsibility for
13
keeping a register in relation to assets of the kind concerned.
14
instrument:
15
(a) includes:
16
(i) a contract, deed, undertaking or agreement; and
17
(ii) a notice, authority, order or instruction; and
18
(iii) an instrument made under an Act or instrument; but
19
(b) does not include:
20
(i) an Act; or
21
(ii) instruments made under this Act.
22
land means any legal or equitable estate or interest in real property,
23
whether actual, contingent or prospective.
24
land registration official, in relation to land, means the Registrar of
25
Titles or other proper officer of the State or Territory in which the land
26
is situated.
27
liability means any liability, duty or obligation, whether actual,
28
contingent or prospective.
29
rules means rules made under item 15.
30
transfer time means the commencement of this Schedule.
31
Schedule 1 The Australian River Co. Limited
Part 2 Transfer of assets and liabilities of ARCo
4
Australian River Co. Limited Bill 2015
No. , 2015
Part 2
--Transfer of assets and liabilities of ARCo
1
2 Transfer of assets and liabilities of ARCo
2
(1)
This item applies to assets and liabilities of ARCo immediately before
3
the transfer time.
4
(2)
At the transfer time the assets and liabilities cease to be assets and
5
liabilities of ARCo and become assets and liabilities of the
6
Commonwealth without any conveyance, transfer or assignment. The
7
Commonwealth becomes the successor in law in relation to those assets
8
and liabilities.
9
3 Certificates relating to vesting of land
10
(1)
This item applies if:
11
(a) any land vests in the Commonwealth under item 2; and
12
(b) there is lodged with a land registration official a certificate
13
that:
14
(i) is signed by the Minister; and
15
(ii) identifies the land, whether by reference to a map or
16
otherwise; and
17
(iii) states that the land has become vested in the
18
Commonwealth under this Act.
19
(2)
The land registration official may:
20
(a) register the matter in a way that is the same as, or similar to,
21
the way in which dealings in land of that kind are registered;
22
and
23
(b) deal with, and give effect to, the certificate.
24
(3)
A certificate made under subitem (1) is not a legislative instrument.
25
4 Certificates for vesting of assets other than land
26
(1)
This item applies if:
27
(a) an asset other than land becomes an asset of the
28
Commonwealth under item 2; and
29
(b) there is lodged with an assets official a certificate that:
30
(i) is signed by the Minister; and
31
The Australian River Co. Limited Schedule 1
Transfer of assets and liabilities of ARCo Part 2
No. , 2015
Australian River Co. Limited Bill 2015
5
(ii) identifies the asset; and
1
(iii) states that the asset has become vested in the
2
Commonwealth under this Act.
3
(2)
The assets official may:
4
(a) deal with, and give effect to, the certificate as if it were a
5
proper and appropriate instrument for transactions in relation
6
to assets of that kind; and
7
(b) make such entries in the register in relation to assets of that
8
kind as are necessary, having regard to the effect of this Part.
9
(3)
A certificate made under subitem (1) is not a legislative instrument.
10
Schedule 1 The Australian River Co. Limited
Part 3 Transfer of other matters relating to ARCo
6
Australian River Co. Limited Bill 2015
No. , 2015
Part 3
--Transfer of other matters relating to ARCo
1
5 Things done by, or in relation to, ARCo
2
(1)
This item applies to a thing done by, or in relation to, ARCo before the
3
transfer time.
4
(2)
The Minister may determine, in writing, that the thing is taken, at and
5
after the transfer time, to have been done by, or in relation to, the
6
Commonwealth.
7
(3)
A determination made under subitem (2) has effect accordingly.
8
(4)
The Minister may make a determination under subitem (2) before or
9
after the transfer time.
10
(5)
A determination made under subitem (2) is not a legislative instrument.
11
(6)
This item does not limit the operation of item 2.
12
6 References in instruments to ARCo
13
(1)
This item applies to an instrument that:
14
(a) is in force immediately before the transfer time; and
15
(b) contains a reference to ARCo.
16
(2)
If the instrument relates to:
17
(a) an asset or liability of ARCo that, as a result of the operation
18
of item 2, becomes an asset or liability of the
19
Commonwealth; or
20
(b) a thing done by, or in relation to, ARCo, that, as a result of
21
the operation of item 5, is taken to have been done by, or in
22
relation to, the Commonwealth;
23
then the reference to ARCo has effect, at and after the transfer time, as
24
if it were a reference to the Commonwealth.
25
(3)
If subitem (2) does not apply to the instrument, then the Minister may
26
determine, in writing, that the reference to ARCo has effect, at and after
27
the transfer time, as if it were a reference to the Commonwealth.
28
(4)
A determination made under subitem (3) has effect accordingly.
29
The Australian River Co. Limited Schedule 1
Transfer of other matters relating to ARCo Part 3
No. , 2015
Australian River Co. Limited Bill 2015
7
(5)
The Minister may make a determination under subitem (3) before or
1
after the transfer time.
2
(6)
A determination made under subitem (3) is not a legislative instrument.
3
7 Legal proceedings of ARCo
4
(1)
This item applies to any proceedings to which ARCo was a party that
5
were pending in any court or tribunal immediately before the transfer
6
time.
7
(2)
If the proceedings related, in whole or part, to an asset or liability that,
8
as a result of the operation of item 2, becomes an asset or liability of the
9
Commonwealth, then the Commonwealth is taken, at and after the
10
transfer time, to be substituted for ARCo as a party to the proceedings.
11
(3)
If subitem (2) does not apply to the proceedings, then the Minister may
12
determine, in writing, that the Commonwealth is taken, at and after the
13
transfer time, to be substituted for ARCo as a party to the proceedings.
14
(4)
A determination made under subitem (3) has effect accordingly.
15
(5)
The Minister may make a determination under subitem (3) before or
16
after the transfer time.
17
(6)
A determination made under subitem (3) is not a legislative instrument.
18
8 Transfer of custody of records of ARCo
19
(1)
This item applies to a record or document that, immediately before the
20
transfer time, is in the custody of ARCo.
21
(2)
After the transfer time, the record or document is to be transferred into
22
the custody of the Commonwealth.
23
Note:
The record or document is a Commonwealth record for the purposes of the Archives Act
24
1983 (see the definition of Commonwealth record in section 3 of that Act).
25
Schedule 1 The Australian River Co. Limited
Part 4 Other matters
8
Australian River Co. Limited Bill 2015
No. , 2015
Part 4
--Other matters
1
9 Additional function of specified Commonwealth entities
2
(1)
The rules may provide that a specified Commonwealth entity (within
3
the meaning of the Public Governance, Performance and
4
Accountability Act 2013) has the function of managing any liabilities
5
that:
6
(a) as a result of the operation of this Schedule are liabilities of
7
the Commonwealth; and
8
(b) the entity has agreed to manage on the Commonwealth's
9
behalf.
10
(2)
An entity specified in rules made for the purposes of subitem (1) has the
11
function referred to in that subitem.
12
10
Directors' obligations--ARCo's books
13
Subsection 601AD(5) of the Corporations Act 2001 has effect in
14
relation to ARCo's books (within the meaning of that Act) at and after
15
the transfer time as if the reference to the directors of the company
16
immediately before deregistration were a reference to the
17
Commonwealth.
18
11 Exemption from stamp duty and other State or Territory
19
taxes
20
(1)
No stamp duty or other tax is payable under a law of a State or Territory
21
in relation to an exempt matter, or anything connected with an exempt
22
matter.
23
(2)
For the purposes of this item, an exempt matter is:
24
(a) the vesting of an asset or liability under item 2; or
25
(b) the operation of this Schedule (including rules made for the
26
purpose of this Schedule) in any other respect.
27
(3)
The Minister may certify in writing that:
28
(a) a specified matter is an exempt matter; or
29
(b) a specified thing was connected with a specified exempt
30
matter.
31
The Australian River Co. Limited Schedule 1
Other matters Part 4
No. , 2015
Australian River Co. Limited Bill 2015
9
(4)
In all courts, and for all purposes (other than for the purposes of
1
criminal proceedings), a certificate made under subitem (3) is prima
2
facie evidence of the matters stated in the certificate.
3
(5)
A certificate made under subitem (3) is not a legislative instrument.
4
12 Certificates taken to be authentic
5
A document that appears to be a certificate made under item 3, 4 or 11:
6
(a) is taken to be such a certificate; and
7
(b) is taken to have been properly given;
8
unless the contrary is established.
9
13 Compensation for acquisition of property
10
(1)
If the operation of this Act would result in an acquisition of property
11
(within the meaning of paragraph 51(xxxi) of the Constitution) from a
12
person otherwise than on just terms (within the meaning of that
13
paragraph), the Commonwealth is liable to pay a reasonable amount of
14
compensation to the person.
15
(2)
If the Commonwealth and the person do not agree on the amount of the
16
compensation, the person may institute proceedings in the Federal Court
17
of Australia for the recovery from the Commonwealth of such
18
reasonable amount of compensation as the court determines.
19
14 Delegation by Minister
20
(1)
The Minister may delegate, in writing, all or any of his or her powers
21
and functions under this Act (other than item 15) to:
22
(a) the Secretary of the Department; or
23
(b) an SES employee, or acting SES employee, in the
24
Department.
25
(2)
In exercising powers or functions under a delegation, the delegate must
26
comply with any directions of the Minister.
27
15 Rules
28
(1)
The Minister may, by legislative instrument (and subject to
29
subitem (5)), make rules prescribing matters:
30
(a) required or permitted by this Act to be prescribed by the
31
rules; or
32
Schedule 1 The Australian River Co. Limited
Part 4 Other matters
10
Australian River Co. Limited Bill 2015
No. , 2015
(b) necessary or convenient to be prescribed for carrying out or
1
giving effect to this Act.
2
(2)
The rules may prescribe matters relating to any one or more of the
3
following:
4
(a) the deregistration of ARCo under the Corporations Act 2001;
5
(b) matters that occur after the transfer time that relate to ARCo;
6
(c) a report, return or document that any of the following persons
7
is required, by or under a law of the Commonwealth, to
8
prepare or lodge in relation to ARCo after the transfer time:
9
(i) ARCo;
10
(ii) a director or former director of ARCo;
11
(iii) any other officer or member of the staff, or former
12
officer or member of the staff, of ARCo;
13
(d) the enactment of this Act.
14
(3)
Despite subsection 12(2) of the Legislative Instruments Act 2003, rules
15
made for the purposes of paragraph (2)(a) or (b) of this item may be
16
expressed to take effect from a date before the rules are registered under
17
that Act.
18
(4)
The rules may provide that provisions of this Schedule are taken to be
19
modified as set out in the rules. Those provisions then have effect as if
20
they were so modified.
21
(5)
To avoid doubt, the rules may not do the following:
22
(a) create an offence or civil penalty;
23
(b) provide powers of:
24
(i) arrest or detention; or
25
(ii) entry, search or seizure;
26
(c) impose a tax;
27
(d) set an amount to be appropriated from the Consolidated
28
Revenue Fund under an appropriation in this Act;
29
(e) amend this Act.
30
(6)
This Act does not limit the rules that may be made under this item.
31