Northern Territory Consolidated Acts
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GOVERNMENT OWNED CORPORATIONS ACT 2001
TABLE OF PROVISIONS
PART 1--PRELIMINARY
1. Short title
2. Objective
3. Definitions
PART 2--ESTABLISHMENT OF GOVERNMENT OWNED CORPORATIONS
4. Objectives of Government owned corporation
5. Status of Government owned corporations
PART 3--STRUCTURE AND OPERATION OF GOVERNMENT OWNED CORPORATIONS
Division 1--Structure of Government owned corporations
6. Corporations legislation
7. Share capital, shares and shareholder
7A. Shareholding Minister
8. Shareholding Minister may give directions
9. Delegation by shareholding Minister
10. Portfolio Minister
11. Constitution of Government owned corporations
12. Committees
Division 2--Officers of Government owned corporations
13. Directors of Government owned corporations
14. Acting directors
15. Accountability of directors of Government owned corporations
16. Chief executive officer
17. Acting chief executive officer
18. Chairperson
19. Deputy chairperson
19A. Interim arrangements for new Government owned corporations
20. Duties and liabilities of directors and other officers
21. Government owned corporation not to indemnify officers
23. Termination of appointments
24. Remuneration
25. Vacancy in office of director of corporation
26. Disclosure of interests by directors
27. Delegation by board
Division 3--Public interest requirements
28. Community service obligations
29. Shareholding Minister may notify board of public sector policies
30. Shareholding Minister may give directions in public interest
Division 4--Financial matters
31. Dividends
32. Capital structure
33. Tax
34. Government guarantee
35. Borrowings
36. Procurement
37. Investments by Government owned corporations
38. Disposal of investments
PART 4--ACCOUNTABILITY
Division 1--Statements of corporate intent
39. Statement of corporate intent – timetable and procedure
40. Statement of corporate intent – contents
41. Statement of corporate intent – reporting
Division 2--Audit, reporting and provision of information
42. Corporation to provide financial statements to Auditor-General
43. Auditor-General to audit financial statements etc.
44. Annual reports and accounts
45. Auditor-General to conduct audits
46. Special audits
47. Other information to be provided
PART 5--LEGAL CAPACITY AND POWERS OF GOVERNMENT OWNED CORPORATIONS
48. Interpretation
49. Objects of Part
50. General powers of Government owned corporations
51. Restrictions on Government owned corporations
51A. Business or trading names
52. Assumptions that may be made in dealings with Government owned corporations or property
53. Fraud does not necessarily invalidate assumptions
PART 5A--RESTRUCTURE OF GOVERNMENT OWNED CORPORATIONS
Division 1--Preliminary matters
53A. Definitions
Division 2--Transfer regulations
53B. Transfer regulations
53C. Internal instruments may be included as transferable instruments
53D. Transfer regulations effective despite other Acts
53E. Effect of transfer regulations – contravention of laws, civil wrongs, etc.
53F. Effect of transfer regulations – transferable instruments
53G. Effect of transfer regulations – joint ownership and joint liability
Division 3--General provisions relating to transfers
53H. Completion of necessary transactions
53J. Arrangements for custody and use of records
53K. Notification and registration of transfer
53L. Territory taxes
Division 4--Correction orders
53M. Application of Division
53N. Definitions
53P. Meaning of error
53Q. Minister may make correction order
53R. Correction order
53S. Application of Part to correction order
Division 5--Miscellaneous matters
53T. Ministerial directions
53U. Protection from liability
PART 6--MISCELLANEOUS
53V. Inconsistency with constituting Act
54. Service of notices
55. Transitional matters relating to Crown immunity
56. Regulations
PART 7--TRANSITIONAL MATTERS FOR POWER AND WATER CORPORATION LEGISLATION AMENDMENT ACT 2014
57. Continuation of CEOs appointed by Administrator
ENDNOTES
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