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This is a Bill, not an Act. For current law, see the Acts databases.
2013
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Clean Energy Finance Corporation
(Abolition) Bill 2013
No. , 2013
(Treasury)
A Bill for an Act to abolish the Clean Energy
Finance Corporation, and for other purposes
No. , 2013
Clean Energy Finance Corporation (Abolition) Bill 2013
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedule(s) ........................................................................................ 2
Schedule 1--Amendments
4
Part 1--Repeal
4
Clean Energy Finance Corporation Act 2012
4
Part 2--Amendments
5
Australian Renewable Energy Agency Act 2011
5
Clean Energy Regulator Act 2011
5
Part 3--Transitional provisions
6
Division 1--Introduction
6
Division 2--Transfer of assets and liabilities
7
Division 3--Transfer of other matters
9
Division 4--Special Account
11
Division 5--Annual reporting obligation
13
Division 6--Investment reporting obligation
14
Division 7--Officers and employees
14
Division 8--Miscellaneous
15
Part 4--Repeal of CEFC Transitional Special Account
17
Clean Energy Finance Corporation (Abolition) Act 2013
17
No. , 2013
Clean Energy Finance Corporation (Abolition) Bill 2013
1
A Bill for an Act to abolish the Clean Energy
1
Finance Corporation, and for other purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act may be cited as the Clean Energy Finance Corporation
5
(Abolition) Act 2013.
6
2 Commencement
7
(1) Each provision of this Act specified in column 1 of the table
8
commences, or is taken to have commenced, in accordance with
9
column 2 of the table. Any other statement in column 2 has effect
10
according to its terms.
11
12
2
Clean Energy Finance Corporation (Abolition) Bill 2013
No. , 2013
Commencement information
Column 1
Column 2
Column 3
Provision(s)
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1,
Parts 1 and 2
The 28th day after this Act receives the
Royal Assent.
3. Schedule 1,
Part 3, Division 1
The day this Act receives the Royal Assent.
4. Schedule 1,
Part 3,
Divisions 2 to 5
The 28th day after this Act receives the
Royal Assent.
5. Schedule 1,
Part 3, Division 6
The day this Act receives the Royal Assent.
6. Schedule 1,
Part 3,
Divisions 7 and 8
The 28th day after this Act receives the
Royal Assent.
7. Schedule 1,
Part 4
The day (the repeal day) after the day on
which the amount standing to the credit of
the CEFC Transitional Special Account
established by item 16 of Schedule 1 is
reduced to nil.
The Minister must announce the repeal day
by notice in the Gazette. The notice is not a
legislative instrument.
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 Schedule(s)
7
Each Act 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
No. , 2013
Clean Energy Finance Corporation (Abolition) Bill 2013
3
concerned, and any other item in a Schedule to this Act has effect
1
according to its terms.
2
Schedule 1 Amendments
Part 1 Repeal
4
Clean Energy Finance Corporation (Abolition) Bill 2013
No. , 2013
Schedule 1
--Amendments
1
Part 1
--Repeal
2
Clean Energy Finance Corporation Act 2012
3
1 The whole of the Act
4
Repeal the Act.
5
Amendments Schedule 1
Amendments Part 2
No. , 2013
Clean Energy Finance Corporation (Abolition) Bill 2013
5
Part 2
--Amendments
1
Australian Renewable Energy Agency Act 2011
2
2 Section 73A
3
Repeal the section.
4
Clean Energy Regulator Act 2011
5
3 Paragraph 49(1)(sa)
6
Repeal the paragraph.
7
Schedule 1 Amendments
Part 3 Transitional provisions
6
Clean Energy Finance Corporation (Abolition) Bill 2013
No. , 2013
Part 3
--Transitional provisions
1
Division 1
--Introduction
2
4 Definitions
3
In this Part:
4
asset means:
5
(a) any legal or equitable estate or interest in real or personal
6
property, whether actual, contingent or prospective; and
7
(b) any right, power, privilege or immunity, whether actual,
8
contingent or prospective.
9
assets official, in relation to an asset other than land, means the person
10
or authority who:
11
(a) under a law of the Commonwealth, a State or a Territory; or
12
(b) under a trust instrument; or
13
(c) otherwise;
14
has responsibility for keeping a register in relation to assets of the kind
15
concerned.
16
commencement time means the commencement of Part 1 of this
17
Schedule.
18
Corporation means the Clean Energy Finance Corporation.
19
Corporation's investments means assets and liabilities that vest in the
20
Commonwealth under Division 2, to the extent to which the assets and
21
liabilities were acquired or incurred by the Corporation for its
22
investment function (within the meaning of the Clean Energy Finance
23
Corporation Act 2012 as in force immediately before the
24
commencement time).
25
land means any legal or equitable estate or interest in real property,
26
whether actual, contingent or prospective.
27
land registration official, in relation to land, means the Registrar of
28
Titles or other proper officer of the State or Territory in which the land
29
is situated.
30
liability means any liability, duty or obligation, whether actual,
31
contingent or prospective.
32
Secretary means the Secretary of the Department.
33
Amendments Schedule 1
Transitional provisions Part 3
No. , 2013
Clean Energy Finance Corporation (Abolition) Bill 2013
7
Division 2
--Transfer of assets and liabilities
1
5 Vesting of assets of Corporation
2
(1)
This item applies to the assets of the Corporation immediately before
3
the commencement time.
4
(2)
At the commencement time, the assets cease to be assets of the
5
Corporation and become assets of the Commonwealth without any
6
conveyance, transfer or assignment. The Commonwealth becomes the
7
successor in law in relation to the assets.
8
6 Vesting of liabilities of Corporation
9
(1)
This item applies to the liabilities of the Corporation immediately
10
before the commencement time.
11
(2)
At the commencement time, the liabilities cease to be liabilities of the
12
Corporation and become liabilities of the Commonwealth without any
13
conveyance, transfer or assignment. The Commonwealth becomes the
14
successor in law in relation to the liabilities.
15
7 Transfers of land may be registered
16
(1)
This item applies if:
17
(a) any land vests in the Commonwealth under this Division; and
18
(b) there is lodged with a land registration official a certificate
19
that:
20
(i) is signed by the Minister; and
21
(ii) identifies the land, whether by reference to a map or
22
otherwise; and
23
(iii) states that the land has become vested in the
24
Commonwealth under this Division.
25
(2)
The land registration official may:
26
(a) register the matter in a way that is the same as, or similar to,
27
the way in which dealings in land of that kind are registered;
28
and
29
(b) deal with, and give effect to, the certificate.
30
(3)
A certificate under paragraph (1)(b) is not a legislative instrument.
31
Schedule 1 Amendments
Part 3 Transitional provisions
8
Clean Energy Finance Corporation (Abolition) Bill 2013
No. , 2013
8 Certificates relating to vesting of assets other than land
1
(1)
This item applies if:
2
(a) an asset other than land vests in the Commonwealth under
3
this Division; and
4
(b) there is lodged with an assets official a certificate that:
5
(i) is signed by the Minister; and
6
(ii) identifies the asset; and
7
(iii) states that the asset has become vested in the
8
Commonwealth under this Division.
9
(2)
The assets official may:
10
(a) deal with, and give effect to, the certificate as if it were a
11
proper and appropriate instrument for transactions in relation
12
to assets of that kind; and
13
(b) make such entries in the register in relation to assets of that
14
kind as are necessary, having regard to the effect of this
15
Division.
16
(3)
A certificate made under paragraph (1)(b) is not a legislative
17
instrument.
18
9 Corporation's investments
19
(1)
Without limiting items 5 and 6, the Commonwealth has the power to do
20
all things that are necessary or convenient to be done for or in relation
21
to the following:
22
(a) holding the Corporation's investments;
23
(b) managing the Corporation's investments;
24
(c) meeting obligations in relation to the Corporation's
25
investments;
26
(d) realising or otherwise disposing of the Corporation's
27
investments.
28
(2)
Sections 39 and 40 of the Financial Management and Accountability
29
Act 1997 do not apply to the Corporation's investments.
30
Amendments Schedule 1
Transitional provisions Part 3
No. , 2013
Clean Energy Finance Corporation (Abolition) Bill 2013
9
Division 3
--Transfer of other matters
1
10 Acts of Corporation to be attributed to the Commonwealth
2
(1)
This item applies to anything done by, or in relation to, the Corporation
3
before the commencement time.
4
(2)
After the commencement time, the thing has effect as if it had been
5
done by, or in relation to, the Commonwealth.
6
11 Substitution of the Commonwealth as a party to certain
7
pending proceedings
8
(1)
This item applies if any proceedings to which the Corporation was a
9
party were pending in any court or tribunal immediately before the
10
commencement time.
11
(2)
The Commonwealth is substituted for the Corporation, from the
12
commencement time, as a party to those proceedings.
13
12 Transfer of records to the Department
14
(1)
This item applies to any records or documents that were in the
15
possession of the Corporation immediately before the commencement
16
time.
17
(2)
The records and documents are to be transferred to the Department after
18
the commencement time.
19
Note:
The records and documents are Commonwealth records for the purposes of the Archives
20
Act 1983.
21
13 Protection of information obtained from the Clean Energy
22
Regulator
23
If:
24
(a) before the commencement time, information was disclosed to
25
the Corporation under subsection 49(2) of the Clean Energy
26
Regulator Act 2011; and
27
(b) immediately before the commencement time, a person was
28
subject to a condition under subsection 49(3) of that Act in
29
relation to the information disclosed;
30
the person continues to be subject to the condition after the
31
commencement time.
32
Schedule 1 Amendments
Part 3 Transitional provisions
10
Clean Energy Finance Corporation (Abolition) Bill 2013
No. , 2013
14 Transfer of Ombudsman investigations
1
If:
2
(a) before the commencement time, a complaint was made to the
3
Ombudsman, or the Ombudsman began an investigation,
4
under the Ombudsman Act 1976 in relation to an action taken
5
by the Corporation; and
6
(b) immediately before the commencement time, the
7
Ombudsman had not finally disposed of the matter in
8
accordance with the Ombudsman Act 1976;
9
the Ombudsman Act 1976 applies after the commencement time as if
10
that action had been taken by the Department.
11
15 References in certain instruments to Corporation
12
(1)
If:
13
(a) an instrument was in force immediately before the
14
commencement time; and
15
(b) a reference is made in the instrument to the Corporation; and
16
(c) the instrument is an instrument covered by one or more of the
17
following subparagraphs:
18
(i) an instrument that was made by the Corporation;
19
(ii) an instrument to which the Corporation was a party;
20
(iii) an instrument that was given to, or in favour of, the
21
Corporation;
22
(iv) an instrument under which any right or liability accrues
23
or may accrue to the Corporation;
24
(v) any other instrument in which a reference is made to the
25
Corporation;
26
the reference has effect after the commencement time as if it were a
27
reference to the Commonwealth.
28
(2)
For the purposes of this item, instrument:
29
(a) includes:
30
(i) a contract, undertaking, deed or agreement; and
31
(ii) a notice, authority, order or instruction; and
32
(iii) an instrument made under an Act or under regulations;
33
but
34
(b) does not include an exempt instrument.
35
Amendments Schedule 1
Transitional provisions Part 3
No. , 2013
Clean Energy Finance Corporation (Abolition) Bill 2013
11
(3)
For the purposes of this item, exempt instrument means:
1
(a) an Act; or
2
(b) an instrument made under this Act; or
3
(c) an instrument specified in an instrument under subitem (4).
4
(4)
The Minister may, by legislative instrument, specify one or more
5
instruments for the purposes of paragraph (3)(c).
6
Division 4
--Special Account
7
16 CEFC Transitional Special Account
8
(1)
The CEFC Transitional Special Account is established by this item.
9
(2)
The CEFC Transitional Special Account is a Special Account for the
10
purposes of the Financial Management and Accountability Act 1997.
11
17 Credits to the CEFC Transitional Special Account
12
(1)
There must be credited to the CEFC Transitional Special Account
13
amounts equal to the following:
14
(a) the amount standing to the credit of the old Special Account
15
immediately before the commencement time;
16
(b) the amount standing to the credit of the Corporation's bank
17
account or bank accounts immediately before the
18
commencement time;
19
(c) the value, immediately before the commencement time, of
20
any securities in which the Corporation has invested surplus
21
money in accordance with section 18 of the Commonwealth
22
Authorities and Companies Act 1997.
23
(2)
In this item:
24
old Special Account means the Clean Energy Finance Corporation
25
Special Account established by section 45 of the Clean Energy Finance
26
Corporation Act 2012 as in force immediately before the
27
commencement time.
28
18 Purposes of the CEFC Transitional Special Account
29
The purposes of the CEFC Transitional Special Account are as follows:
30
(a) paying or discharging costs, expenses and other obligations
31
incurred by the Commonwealth for the purposes of doing any
32
Schedule 1 Amendments
Part 3 Transitional provisions
12
Clean Energy Finance Corporation (Abolition) Bill 2013
No. , 2013
of the following in relation to the assets and liabilities
1
(including the Corporation's investments) that vest in the
2
Commonwealth under Division 2:
3
(i) holding the assets and liabilities;
4
(ii) managing the assets and liabilities;
5
(iii) meeting obligations in relation to the assets and
6
liabilities;
7
(iv) realising or otherwise disposing of the assets and
8
liabilities;
9
(b) paying any remuneration and allowances payable to any
10
person in relation to doing any of the things referred to in
11
paragraph (a);
12
(c) paying any other expenses necessary or appropriate for the
13
purposes of meeting any other obligations incurred by the
14
Commonwealth as a consequence of this Act;
15
(d) meeting the expenses of administering the Account;
16
(e) giving effect to a direction under item 19 (Transfer to
17
consolidated revenue fund).
18
Note 1: See section 21 of the Financial Management and Accountability Act 1997 (debits from
19
Special Accounts).
20
Note 2: If the debit of an amount from the CEFC Transitional Special Account will reduce the
21
balance to nil, this Division is repealed the following day and the Minister must publish
22
a notice in the Gazette (see item 7 of the table in subsection 2(1) and item 28 of this
23
Schedule).
24
19 Transfer to consolidated revenue fund
25
(1)
The Finance Minister may, by writing, direct that a specified amount is
26
to be debited from the CEFC Transitional Special Account.
27
(2)
If the Finance Minister is satisfied that no further amounts will be
28
required to be debited for a purpose referred to in any of paragraphs
29
18(a) to (d), the Finance Minister must direct under subitem (1) the
30
debiting of an amount equal to the amount standing to the credit of the
31
CEFC Transitional Special Account.
32
Note:
If the debit of an amount from the CEFC Transitional Special Account will reduce the
33
balance to nil, this Division is repealed the following day and the Minister must publish
34
a notice in the Gazette (see item 7 of the table in subsection 2(1) and item 28 of this
35
Schedule).
36
(3)
A direction under subitem (1) is not a legislative instrument.
37
Amendments Schedule 1
Transitional provisions Part 3
No. , 2013
Clean Energy Finance Corporation (Abolition) Bill 2013
13
(4)
The Finance Minister must give a copy of a direction under subitem (1)
1
to the Minister.
2
Division 5
--Annual reporting obligation
3
20 Final annual report
--Corporation
4
(1)
The Secretary must prepare and give to the Minister, for presentation to
5
the Parliament, a report on the operations of the Corporation during the
6
final reporting period.
7
(2)
Subject to this item, as far as practicable the report must comply with
8
the requirements for an annual report under section 9 of the
9
Commonwealth Authorities and Companies Act 1997. For this purpose,
10
that Act, and section 74 of the Clean Energy Finance Corporation Act
11
2012 as in force immediately before the commencement time, apply to
12
the report as if a reference to a financial year were a reference to the
13
final reporting period.
14
(3)
The Secretary may include the report in the Department's annual report
15
for the financial year in which the last day of the final reporting period
16
occurs.
17
(4)
If the Secretary does not include the report in the Department's annual
18
report, then:
19
(a) the Secretary must give the report to the Minister within 3
20
months after the end of the final reporting period; and
21
(b) the Minister must table the report in each House of the
22
Parliament as soon as practicable; and
23
(c) the Secretary must publish the report on the Department's
24
website as soon as practicable after the report is tabled in the
25
House of Representatives.
26
(5)
The Minister may grant an extension of the time referred to in
27
paragraph (4)(a) in special circumstances.
28
(6)
In this item:
29
final reporting period means the period:
30
(a) beginning:
31
(i) if, at the commencement time, no report under section 9
32
of the Commonwealth Authorities and Companies Act
33
1997 has been given to the Minister for the financial
34
Schedule 1 Amendments
Part 3 Transitional provisions
14
Clean Energy Finance Corporation (Abolition) Bill 2013
No. , 2013
year ending before the commencement time--at the
1
start of that financial year; or
2
(ii) otherwise--at the start of the financial year in which the
3
commencement time occurs; and
4
(b) ending immediately before the commencement time.
5
Division 6
--Investment reporting obligation
6
21 Final quarterly investment report
--Corporation
7
Before the commencement time, the Corporation must publish a report
8
on its website in accordance with section 72 of the Clean Energy
9
Finance Corporation Act 2012, for:
10
(a) any quarter ending before the commencement time, for which
11
a report under section 72 has not already been published; and
12
(b) so much of the quarter in which the commencement time will
13
occur, as has elapsed by the commencement time.
14
Division 7
--Officers and employees
15
22 No transfer of appointment, engagement or employment
16
of staff
17
(1)
Nothing in this Part produces the result that the appointment,
18
engagement or employment of a Corporation officer has effect as if it
19
were an appointment, engagement or employment of the person in
20
relation to the Commonwealth.
21
(2)
In this item:
22
Corporation officer means:
23
(a) a member of the Board of the Corporation; or
24
(b) an employee of the Corporation; or
25
(c) a consultant engaged by the Corporation.
26
Amendments Schedule 1
Transitional provisions Part 3
No. , 2013
Clean Energy Finance Corporation (Abolition) Bill 2013
15
Division 8
--Miscellaneous
1
23 Exemption from stamp duty and other State or Territory
2
taxes
3
(1)
No stamp duty or other tax is payable under a law of a State or a
4
Territory in respect of an exempt matter, or anything connected with an
5
exempt matter.
6
(2)
For the purposes of this item, an exempt matter is:
7
(a) the vesting of an asset or liability under this Part; or
8
(b) the operation of this Part in any other respect.
9
(3)
The Minister may certify in writing:
10
(a) that a specified matter is an exempt matter; or
11
(b) that a specified thing was connected with a specified exempt
12
matter.
13
(4)
In all courts, and for all purposes (other than for the purposes of
14
criminal proceedings), a certificate under subitem (3) is prima facie
15
evidence of the matters stated in the certificate.
16
24 Certificates taken to be authentic
17
A document that appears to be a certificate made or issued under a
18
particular provision of this Part:
19
(a) is taken to be such a certificate; and
20
(b) is taken to have been properly given;
21
unless the contrary is established.
22
25 Delegation by Minister
23
(1)
The Minister may, by writing, delegate all or any of his or her powers
24
and functions under this Part to a person.
25
(2)
The delegate must be:
26
(a) the Secretary of the Department; or
27
(b) an SES employee, or acting SES employee, in the
28
Department.
29
Note:
The expressions SES employee and acting SES employee are defined in the Acts
30
Interpretation Act 1901.
31
Schedule 1 Amendments
Part 3 Transitional provisions
16
Clean Energy Finance Corporation (Abolition) Bill 2013
No. , 2013
(3)
In exercising powers or functions under a delegation, the delegate must
1
comply with any directions of the Minister.
2
26 Compensation for acquisition of property
3
(1)
If the operation of this Schedule would result in an acquisition of
4
property (within the meaning of paragraph 51(xxxi) of the Constitution)
5
from a person otherwise than on just terms (within the meaning of that
6
paragraph), the Commonwealth is liable to pay a reasonable amount of
7
compensation to the person.
8
(2)
If the Commonwealth and the person do not agree on the amount of the
9
compensation, the person may institute proceedings in a court of
10
competent jurisdiction for the recovery from the Commonwealth of
11
such reasonable amount of compensation as the court determines.
12
27 Transitional rules
13
The Minister may, by legislative instrument, make rules in relation to
14
transitional matters arising out of the amendments and repeals made by
15
this Schedule.
16
Amendments Schedule 1
Repeal of CEFC Transitional Special Account Part 4
No. , 2013
Clean Energy Finance Corporation (Abolition) Bill 2013
17
Part 4
--Repeal of CEFC Transitional Special Account
1
Clean Energy Finance Corporation (Abolition) Act 2013
2
28 Division 4 of Part 3 of Schedule 1
3
Repeal the Division.
4