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Irrigation Company Bill 2011 FACT SHEET The Bill provides for an improved governance structure for the State's three irrigation entities, achieved through amalgamation of the Rivers and Water Supply Commission (Commission), Tasmanian Irrigation Schemes Pty Ltd (TIS) and the Tasmanian Irrigation Development Board Pty Ltd (TIDB) into a single State-owned Company, to be known as Tasmanian Irrigation Pty Ltd. All the powers and functions of the existing businesses will be transferred to the Tasmanian Irrigation Pty Ltd, and all current projects, activities, and contracts will continue under the new structure. This will provide certainty to customers, consultants and contractors, in that their contracts and agreements will remain unchanged, and business will continue as usual. The legislation also provides for the transfer of the employees of TIS and the Commission to Tasmanian Irrigation Pty Ltd on existing entitlements, ensuring that the transition will be seamless for all employees. The Bill is drafted to be broad and un-prescriptive to enable the new company sufficient flexibility in its operations, consistent with other portfolio legislation in the port, rail and racing sectors. The key elements of the Bill provide for: the conversion of the three irrigation entities into a single State-owned company, including the transfer of the assets, rights, liabilities and responsibilities of the TIS and the Commission to Tasmanian Irrigation Pty Ltd; the transfer to Tasmanian Irrigation Pty Ltd of all current employees of the Commission and TIS, and guarantees that the remuneration, superannuation and long service leave entitlements of transferring employees will be unaffected by the transfer; the Board of TIDB to continue as the core Board of Tasmanian Irrigation Pty Ltd; the Treasurer and Minister for Primary Industries and Water to be the Shareholder Ministers (Members) of the Company and hold the shares of the Company in trust for the Crown; the establishment of governance, reporting and compliance arrangements for the Company, adopting Corporations Law in accordance with the State-owned Company model of general inclusion and specific exclusion; land acquisition powers that are similar to those of the Commission, and similar to powers in other sectors such as electricity, gas, and water and sewerage; and the repeal of the Rivers and Water Supply Commission Act 1999 and deregistering of Tasmanian Irrigation Schemes Pty Ltd.