Australian Capital Territory Numbered Acts
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TERRITORY OWNED CORPORATIONS ACT 1990 (NO. 53 OF 1990)
TABLE OF PROVISIONS
Long Title
PART I--PRELIMINARY SHORT TITLE
1. This Act may be cited as the Territory Owned Corporations Act 1990.
2. Commencement
3. Interpretation
4. Construction of Act
5. Application to the Crown
PART II--ESTABLISHMENT OF CORPORATIONS TERRITORY OWNED CORPORATIONS
6. (1) A company specified in Schedule 1 is a Territory owned corporation.
7. Principal objective of corporations
8. Status
9. Notification to the Assembly
10. Legal obligations
11. Memorandum and articles
12. Directors
13. Shares in corporations
14. Acquisition of subsidiaries
PART III--ACCOUNTABILITY PROVISION OF INFORMATION
15. A Territory owned corporation or a subsidiary shall, upon request, provide to the voting shareholders all the information that they may require.
16. Acquisition and disposal of subsidiaries and undertakings
17. Directions to corporations
18. Audit
19. Preparation of statement of corporate intent
20. Statement of corporate intent
21. Moification of statement
22. Annual report
23. Financial year
PART IV--BORROWING BORROWING FROM TERRITORY
24. The Treasurer may, on behalf of the Territory, out of money appropriated by the Legislative Assembly for the purpose, lend money to a Territory owned corporation or a subsidiary on such terms and conditions as the Treasurer, by instrument, determines.
25. Borrowing otherwise than from Territory
26. Security
27. Borrowing not otherwise permitted
28. Guarantee by Territory
PART V--TAXATION TERRITORY TAXES
29. (1) Tax is not payable by a Territory owned corporation or a subsidiary in relation to—
30. Commonwealth tax equivalents
31. Borrowing levy
PART VI--MISCELLANEOUS PROFITS AVAILABLE FOR PAYMENT OF DIVIDENDS
32. (1) A Territory owned corporation or subsidiary shall pay a dividend only out of moneys lawfully available for the purpose.
33. Voting equality
34. Regulations
SCHEDULE 1
SCHEDULE 2
SCHEDULE 3
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