Queensland Numbered Acts

GOVERNMENT OWNED CORPORATIONS AMENDMENT ACT 2007 No. 10 - SECT 56

After section 188--

insert--

'(1) Nothing done under a regulation made under section 188(1)--

(a) makes a relevant entity liable for a civil wrong or a contravention of a law or for a breach of a contract or confidence; or

(b) makes a relevant entity in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment, novation or transfer of a right or liability or the disclosure of information; or

(c) is taken to fulfil a condition that--

(i) allows a person to terminate an instrument or obligation or modify the operation or effect of an instrument or obligation; or

(ii) allows a person to enforce an obligation contained in an instrument or requires a person to perform an obligation contained in an instrument; or

(iii) requires any money to be paid before its stated maturity; or

(d) releases a surety or other obligee, wholly or partly, from an obligation.

'(2) If, apart from this subsection, the advice, consent or approval of a person would be necessary to do something under a regulation made under section 188(1), the advice is taken to have been obtained or the consent or approval is taken to have been given unconditionally.

'(3) If, apart from this subsection, giving notice to a person would be necessary to do something under a regulation made under section 188(1), the notice is taken to have been given.

'(4) This section applies despite anything in an instrument.

'(5) In this section--

relevant entity means any of the following--

(a) the State;

(b) a GOC or GOC subsidiary;

(c) an officer, employee or agent of an entity mentioned in paragraph (a) or (b);

(d) the shareholding Ministers of a GOC.'.