GOVERNMENT TRADING ENTERPRISES ACT 2023

Western Australian Current Acts

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GOVERNMENT TRADING ENTERPRISES ACT 2023

TABLE OF PROVISIONS

PART 1 -- Preliminary

1. Short title
2. Commencement
3. Terms used
4. Term used: subsidiary
5. Relationship to GTEs’ Establishing Acts
6. Act binds Crown

PART 2 -- Purpose and functions of GTEs

7. GTE’s purpose
8. GTE’s functions
9. Performance of GTE’s functions
10. GTE may act at its discretion

PART 3 -- Boards of directors

Division 1 -- Boards and board membership

11. Board to be GTE’s governing body
12. Board membership
13. Appointment of board members
14. Directors’ skills matrix
15. Recommending candidates for vacancies
16. Chairperson and deputy chairperson
17. Terms and conditions of appointment
18. Remuneration
19. Same remuneration for directors of GTE
20. Expenses
21. Casual vacancies
22. Leave of absence
23. Alternate directors

Division 2 -- Review of board performance

24. Review of board performance: self-assessment
25. Review of board performance: external review

Division 3 -- Board committees

26. Committees
27. Audit and risk management committees

Division 4 -- Board procedures

28. Holding meetings
29. Quorum
30. Presiding members
31. Procedure
32. Presence at meetings may be remote
33. Voting
34. Resolution without meeting
35. Minutes to be kept

PART 4 -- CEOs

36. GTE’s chief executive officer
37. Appointment
38. Selection criteria
39. Remuneration
40. Resignation
41. Acting chief executive officer
42. Review of CEO’s performance

PART 5 -- Duties of directors, CEOs and staff

Division 1 -- Preliminary

43. Executive officers
44. Attempts

Division 2 -- Duties stated

45. Fiduciary relationship with, and duties to, GTE
46. Care and diligence
47. Good faith and proper purpose
48. Honesty
49. False or misleading information
50. Use of position
51. Use of information
52. Conflict of duties: public service officers

Division 3 -- Remedies for breach of duties

53. Civil proceedings for breach of duties
54. Compensation for breach of duties

Division 4 -- Relief from liability

55. Relief from liability
56. Application for relief from liability

Division 5 -- Disclosure of material personal interests

Subdivision 1 -- Directors

57. Term used: committee
58. Disclosure of material personal interests
59. Participation by interested members
60. Quorum if section 59 applies
61. Portfolio Minister may declare section 59(1) or 60(1) inapplicable
62. Register of material personal interests
63. Matters that must be included in departments’ annual reports

Subdivision 2 -- CEOs

64. Disclosure of material personal interests

Division 6 -- Loans, insurance, indemnities and exemptions

65. Prohibition on loans to directors and related persons
66. Directors and others not to be exempted or indemnified from certain liabilities
67. Insurance for certain liabilities of directors and others not to be provided
68. Certain indemnities, exemptions and insurance void

PART 6 -- Strategic planning

Division 1 -- Preliminary

69. Terms used

Division 2 -- Statement of expectations

70. Statement of expectations
71. Preparing draft statement of expectations
72. Adopting statement of expectations
73. Varying statement of expectations

Division 3 -- Annual performance statement

74. Terms used
75. Annual performance statement for GTE
76. Submitting draft annual performance statement and related information
77. Adopting annual performance statement
78. Varying annual performance statement
79. Continuation of annual performance statement

PART 7 -- Accountability and control

Division 1 -- Reporting

80. Terms used
81. Annual reports must be given to Portfolio Minister and Treasurer
82. Interim reports must be given to Portfolio Minister and Treasurer
83. Copies of certain reports must be laid before Parliament
84. Copies of certain reports must be made publicly available
85. Deletion of commercially sensitive information from copies of reports

Division 2 -- Consultation and provision of information

86. Terms used
87. Consultation
88. Right to request, obtain and retain information
89. Duty to comply with information request
90. Minister must be kept informed
91. Notice of financial difficulty
92. Legal professional privilege preserved

Division 3 -- Matters requiring approval

Subdivision 1 -- Preliminary

93. Term used: relevant entity
94. Approvals and declarations

Subdivision 2 -- Disposal of significant assets

95. Terms used
96. Restriction on disposal of significant asset
97. Consultation regarding disposal of significant asset
98. Disposal orders

Subdivision 3 -- Significant transactions

99. Terms used
100. Term used: significant transaction
101. Restriction on effecting significant transactions
102. Consultation regarding significant transactions
103. Approval of significant transactions
104. Excluded transactions

Subdivision 4 -- Significant initiatives

105. Term used: significant initiative
106. Consultation regarding significant initiatives

Division 4 -- Ministerial directions

107. GTEs not generally subject to direction by Government
108. Ministerial directions
109. Limitation on directions under section
110. When directions take effect

Division 5 -- Policy orders

111. Policy orders
112. When policy orders cease to apply

Division 6 -- Subsidiaries

Subdivision 1 -- Formation, acquisition and control of subsidiaries

113. Restriction on forming or acquiring subsidiary
114. Consultation regarding formation or acquisition of subsidiary
115. Control of subsidiary
116. Provisions affecting the Corporations Act

Subdivision 2 -- Remuneration and expenses of directors and CEOs of wholly owned subsidiaries

117. Terms used
118. Remuneration of directors
119. Same remuneration for directors of subsidiary
120. Expenses of directors
121. Remuneration of chief executive officers

Division 7 -- Protection from liability

122. No liability for certain acts and omissions: disclosure of information and documents
123. No liability for certain acts and omissions: compliance with Ministerial directions

PART 8 -- Financial provisions

Division 1 -- Preliminary

124. Terms used
125. Delegation by Treasurer

Division 2 -- Bank and other accounts

126. Terms used
127. Primary account of GTE
128. Other bank accounts of GTE
129. Operation of accounts

Division 3 -- Investment

130. Application of Financial Management Act 2006 Part 3 Division
131. Investment of funds

Division 4 -- Borrowing and guarantees

132. Borrowing powers
133. Borrowing limits
134. Breach of borrowing limits
135. Guarantee by Treasurer
136. Charges for guarantee

Division 5 -- Risk management

137. Hedging transactions

Division 6 -- Dividends

138. Solvency requirement
139. Dividend formula
140. Final dividend
141. Interim and special dividends

Division 7 -- Financial administration and audit

142. Terms used
143. Obligation to keep financial records
144. Preparation of annual financial reports and directors’ reports
145. Audit of annual financial report
146. Preparation of interim reports
147. Application of Financial Management Act 2006 sections 81 and
148. Treasurer’s GTE instructions
149. Regulations concerning financial administration and audit

Division 8 -- Local government rates exemption

150. Exemption from local government rates
151. Payment in lieu of local government rates

PART 9 -- General provisions

Division 1 -- Protection of persons dealing with GTEs

152. Person dealing with GTE may make assumptions
153. Third party may make assumptions
154. Assumptions that may be made
155. Exception to sections 152 and

Division 2 -- Formalities

156. Execution of documents
157. Contract formalities

PART 10 -- Miscellaneous

158. Making certain things publicly available
159. Laying documents before Parliament not sitting
160. Regulations

PART 11 -- Transitional provisions

Division 1 -- Preliminary

161. Terms used
162. New provisions that correspond to old provisions

Division 2 -- Application of Interpretation Act 1984

163. Application of Interpretation Act 1984

Division 3 -- General transitional provisions

164. Completion of things commenced before commencement day
165. Continuing effect of things done before commencement day
166. Relationship of this Division to other transitional provisions

Division 4 -- Specific transitional provisions

167. Boards of directors
168. Chief executive officers
169. Designation of executive officers
170. Indemnities, exemptions and insurance for certain liabilities of directors and others
171. Statement of expectations
172. Annual performance statement
173. Bank and other accounts
174. Hedging transactions
175. Dividends
176. Financial administration and audit
177. Local government rates

Division 5 -- Transitional regulations

178. Transitional regulations

PART 12 -- Consequential amendments

Division 1 -- Electricity Corporations Act 2005 amended

179. Act amended
180. Section 3 amended
181. Section 3A inserted
3A. Relationship to GTE Act 1
182. Part 2 Division 2 deleted
183. Part 2 Division 3 Subdivision 1 deleted
184. Part 2 Division 3 Subdivision 2 heading replaced

Subdivision 2 -- Power to engage and manage staff

185. Section 20 deleted
186. Section 21 amended
187. Part 2 Division 3 Subdivision 5 heading replaced

Subdivision 5 -- Superannuation

188. Part 2 Division 4 heading replaced

Division 4 -- Staff codes of conduct

189. Sections 27 to 30 deleted
190. Section 33 amended
191. Section 53 amended
192. Section 54 amended
193. Section 55 deleted
194. Section 56 deleted
195. Section 58 deleted
196. Section 59 amended
197. Section 60 amended
198. Section 61 replaced
61. Limitation of corporation’s duty to act on commercial principles 1
199. Section 63 amended
200. Sections 64 to 70 deleted
201. Section 71 amended
202. Part 3 Division 4 deleted
203. Part 5 heading replaced

PART 5 -- Ministerial directions

204. Part 5 Divisions 1 to 3 deleted
205. Part 5 Division 4 heading deleted
206. Sections 110 to 113 replaced
111. Directions that cannot be given under GTE Act s. 108 1
207. Part 5 Divisions 5 and 6 deleted
208. Part 6 deleted
209. Sections 134 to 136 replaced
134. Laying documents before Parliament not sitting 1
210. Section 138 amended
211. 1 to 4 deleted

Division 2 -- Gold Corporation Act 1987 amended

212. Act amended
213. Various references to Salaries and Allowances Act 1975 s. 7C amended

Division 3 -- Perth Market (Disposal) Act 2015 amended

214. Act amended
215. Section 28 amended

Division 4 -- Pilbara Port Assets (Disposal) Act 2016 amended

216. Act amended
217. Section 27 amended

Division 5 -- Port Authorities Act 1999 amended

218. Act amended
219. Section 3 amended
220. Section 3A inserted
3A. Relationship to GTE Act 1
221. Part 2 Division 2 heading replaced

Division 2 -- Community consultation committees

222. Sections 7 to 13 deleted
223. Section 14A amended
224. Sections 14, 15A, 15B and 15 deleted
225. Section 17 amended
226. Section 20 deleted
227. Section 23 amended
228. Part 4 Division 1 heading deleted
229. Section 31 replaced
31. Relationship to Environmental Protection Act 1986 1
230. Section 32 amended
231. Sections 33, 34A and 34 deleted
232. Section 35 amended
233. Sections 39 to 43 deleted
234. Section 44 amended
235. Part 4 Division 2 deleted
236. Part 5 deleted
237. Part 6 heading deleted
238. Part 6 Divisions 1 to 5 deleted
239. Part 6 Division 6 heading deleted
240. Sections 133 to 135 replaced
133. Laying documents before Parliament not sitting 1
241. Section 139 amended
242. Part 12 deleted
243. 2 to 5 deleted

Division 6 -- Racing and Wagering Western Australia Act 2003 amended

244. Act amended
245. Section 21A amended
246. Section 21B amended

Division 7 -- Salaries and Allowances Act 1975 amended

247. Act amended
248. Section 4 amended
249. Section 7C replaced
7BA. Term used: Government entity 1
7C. Determinations as to remuneration of executive officers of Government entities 1
7D. Determinations as to remuneration of directors of certain Government entities 1
7E. Determinations as to allowance for directors of certain GTEs: audit and risk committee members 1
250. Section 8 amended
251. Section 10 amended
252. Section 10A amended
253. Schedule 2 amended

Division 8 -- Statutory Corporations (Liability of Directors) Act 1996 amended

254. Act amended
255. Section 4 amended
256. Schedule 1 amended

Division 9 -- Water Corporations Act 1995 amended

257. Act amended
258. Section 3 amended
259. Section 3A inserted
3A. Relationship to GTE Act 1
260. Section 7A amended
261. Part 2 Division 2 replaced

Division 2 -- Regional water corporation board members

7. Appointing board member: special provision for regional water corporations 1
262. Sections 13, 14A, 14B and 14 deleted
263. Section 16 amended
264. Section 18 deleted
265. Part 2 Division 4 heading replaced

Division 4 -- Staff codes of conduct

266. Sections 20 to 23 deleted
267. Section 26 amended
268. Sections 28A and 28 deleted
269. Section 29 amended
270. Sections 30 to 34 deleted
271. Section 35 amended
272. Part 3 Division 3 deleted
273. Parts 4 and 5 deleted
274. Sections 87 to 89 replaced
87. Laying documents before Parliament not sitting 1
275. Section 91 amended
276. 1 to 4 deleted

Division 10 -- Western Australian Land Authority Act 1992 amended

277. Act amended
278. Section 4 amended
279. Section 4A inserted
4A. Relationship to GTE Act 1
280. Sections 6 to 8B deleted
281. Sections 10, 11A and 11B deleted
282. Section 12 amended
283. Section 14 amended
284. Section 14A deleted
285. Section 14D amended
286. Section 16A deleted
287. Section 16C deleted
288. Section 17 amended
289. Sections 17A to 17C deleted
290. Section 19 deleted
291. Section 22 deleted
292. Section 23 amended
293. Sections 23A to 23D deleted
294. Parts 3A and 5 deleted
295. Sections 45, 45AA and 45A replaced
45. Laying documents before Parliament not sitting 1
296. Section 47 amended
297. 1 and 1A deleted
298. Schedule 2 amended
299. 3 and 3A deleted

Division 11 -- Western Australian Treasury Corporation Act 1986 amended

300. Act amended
301. Section 8AA amended
302. Section 8AB amended
303. Section 9 amended
SCHEDULE 1 -- Effect of provisions to be included in constitution or governing instrument of subsidiary of GTE

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