QueenslandGASSUPPLIERS(SHAREHOLDINGS)ACT1972Reprinted as in force on 31 January
1996(Act not amended up to this date)Reprint No. 1This reprint is
prepared bythe Office of the Queensland Parliamentary
CounselWarning—This reprint is not an authorised
copy
Information about this reprintThis
Act is reprinted as at 31 January 1996.Thereprintincludesareferencetothelawbywhicheachamendmentwasmade—see list of legislation and list of
annotations in endnotes.MinoreditorialchangesallowedundertheprovisionsoftheReprintsAct1992mentioned in the following list have
also been made to—•update citations and references (pt 4,
div 2)•expressgenderspecificprovisionsinawayconsistentwithcurrentdraftingpractice (s 24)•use
gender neutral office names (s 25)•correctspellingandusedifferentspellingconsistentwithcurrentdraftingpractice (s 26)•use
standard punctuation consistent with current drafting practice (s
27)•useconjunctivesanddisjunctivesconsistentwithcurrentdraftingpractice(s 28)•use expressions consistent with
current drafting practice (s 29)•relocate marginal or cite notes (s
34)•use aspects of format and printing
style consistent with current drafting practice(s 35)•omit provisions that are no longer
required (ss 36, 37 and 39)•omit the enacting
words (s 42A)•number and renumber certain provisions
and references (s 43)•correct minor
errors (s 44).Also see endnotes for information
about—•when provisions commenced•editorial changes made in the reprint,
including—•table of obsolete and redundant
provisions•table of corrected minor errors•table of renumbered
provisions.
s13s3Gas
Suppliers (Shareholdings) Act 1972GAS SUPPLIERS
(SHAREHOLDINGS) ACT1972[reprinted as in force on 31 January
1996]AnActtoregulatetheextentofshareholdingsinbodiescorporatethataregassuppliersandthevotingrightsofshareholdersthereinandtoregulatetheactionsofthegoverningbodiesofsuch bodies corporate†PART 1—PRELIMINARY˙Short
title1.This Act may be cited as theGas
Suppliers (Shareholdings) Act 1972.˙Application of Act3.(1)This
Act shall not apply to any body corporate that is a gas
suppliersave one—(a)that
supplies gas by means of a gas undertaking; and(b)that
is declared by proclamation to be a gas supplier to whom
thisAct applies.(2)A
proclamation made for the purpose of subsection (1) may
appointa date on and from which this Act is to apply
to the gas supplier specifiedtherein and may
appoint such a date prior to the date of its publication or
tothe date of passing of this Act whereupon, in
either case, this Act shall bedeemed to have
applied to the gas supplier specified therein on and fromthat
date and shall have retrospective application accordingly.(3)Notwithstanding subsection (2) and the
terms of any proclamationmade under this section—
s44s6Gas
Suppliers (Shareholdings) Act 1972(a)intheapplicationofpart1toanypersonwhoseinterestinavoting share or
shares of a gas supplier to which this Act applieswould,butforthisprovision,constituteacontraventionofsection10aninterestinsuchshareorsharesthathasbeencontinuouslyheldbythepersonsinceadatepriorto20December1971,shallbedisregardedtotheextentthatthenominalvalueoftheshareorsharesinquestionexceedsthemaximum value permitted by section
10;(b)part 3 shall not prejudice the voting
rights of any person attachingto an interest
in a voting share of a gas supplier to which this Actappliescontinuouslyheldbythepersonsinceadatepriorto20 December 1971.˙Single
proclamation for ss 2 and 34.It is competent
to the Governor to make a single proclamation for thepurposes of both sections 2 and 3.˙Interpretation6.(1)In
this Act—“corporation”includes an
association, a partnership or other organisation,whether incorporated or not, but does not
include—(a)a body corporate that is incorporated
within the Commonwealthand is a public authority or an
instrumentality or agency of theCrown; or(b)a corporation sole; or(c)a trustee company within the meaning
of theTrustee CompaniesAct 1968.“director”in relation to a
gas supplier, includes a member of the governingbody
(by whatever name called) of the gas supplier.“gassupplier”meansabodycorporatethatissupplyinggasinQueensland through a gas
undertaking.“gas undertaking”means the
business of supplying or of producing andsupplying gas
through mains to consumers.
s75s7Gas
Suppliers (Shareholdings) Act 1972“Supreme
Court”includes any judge of the Supreme
Court.“voting share”means in
relation to a gas supplier, an issued share in thecapital of that gas supplier, not
being—(a)a share to which there is not attached
in any circumstances a rightto vote;
or(b)a share to which there is attached a
right to vote only in 1 or moreof the following
circumstances—(i)duringaperiodduringwhichadividendorpartofadividend in respect of the share is in
arrear;(ii)uponaproposaltoreducethesharecapitalofthegassupplier;(iii)upon
a proposal that affects rights attached to the share;(iv)upon a proposal
to wind up the gas supplier;(v)uponaproposalforthedisposalofthewholeofthegasundertakingofthegassupplierandthepropertyusedtherein;(vi)during the
winding up of the gas supplier.(2)In
this Act—(a)a reference to a share in a gas
supplier shall be construed as areference to a
share in the capital of the gas supplier;(b)areferencetoashareinagassuppliershallbeconstruedasincluding a reference to stock into which a
share in the capital ofthe gas supplier has been
converted.˙Stock deemed to be shares7.Wherethewholeorapartofthesharecapitalofagassupplierconsists of
stock, an interest of a person in any such stock shall be
deemedto be, for the purposes of this Act, an
interest in an issued share of that gassupplier having
the same nominal value as the amount of the stock in whichthe
interest is held and having attached to it the same rights as are
attached tothat stock.
s86s8Gas
Suppliers (Shareholdings) Act 1972˙Interests in shares8.(1)The
following subsections have effect for the purposes of this
Act.(2)Where property subject to a trust
consists of or includes shares in agas supplier and
a person knows or has reasonable grounds for believing—(a)that the person has an interest under
the trust; and(b)that the property subject to the trust
consists of or includes thoseshares;the
person shall be deemed to have an interest in those shares.(3)Where a body corporate has an interest
in a share and—(a)the body corporate is, or its
directors are accustomed, or under anobligation,
whether formal or informal, to act in accordance withthe
directions, instructions or wishes of a person in relation to
thatshare; or(b)a
person has a controlling interest in the body corporate; or(c)a person is, the associates of a
person are, or a person and his orher associates
are entitled to exercise or control the exercise of notless
than 15% of the votes attached to the voting shares in thebody
corporate;that person shall be deemed to have an
interest in that share.(4)Forthepurposesofsubsection(3)(c)apersonisanassociateofanother person—(a)if
the firstmentioned person is—(i)a
person in accordance with whose directions, instructions orwishesthatotherpersonisaccustomed,orunderanobligation, whether formal or informal, to
act in relation tothe share referred to in that subsection;
or(ii)a person who is
accustomed, or under an obligation, whetherformal or
informal, to act in accordance with the directions,instructions or wishes of that other person
in relation to theshare referred to in that subsection;
or(iii)abodycorporatethatis,orthedirectorsofwhichareaccustomed,orunderanobligation,whetherformalor
s87s8Gas
Suppliers (Shareholdings) Act 1972informal,toactinaccordancewiththedirections,instructions or
wishes of that other person in relation to theshare referred
to in that subsection; or(iv)abodycorporateinaccordancewiththedirections,instructions or
wishes of which, or of the directors of which,thatotherpersonisaccustomed,orunderanobligation,whether formal
or informal, to act in relation to the sharereferred to in
that subsection; or(v)a body corporate that, by virtue of
theCompanies Act 1961,section 6(5) or of the corresponding
provisions of the law ofanother State or of a Territory, is to
be deemed a corporationthat is related to that other person;
or(b) if—(i)thefirstmentionedpersonisacorporationandthatotherperson is an officer of that corporation;
or(ii)the
firstmentioned person is a partner of that other person; or(iii)the
firstmentioned person and that other person are membersofavotingtrustandthetrustrelatestosharesinthegassupplier
concerned.(5)Where a person—(a)has
entered into a contract to purchase a share; or(b)has
a right to have a share transferred to himself or herself or
tothe person’s order, whether the right is
exercisable presently or inthe future and
whether on the fulfilment of a condition or not; or(c)has a right to acquire a share, or an
interest in a share under anoption, whether
the right is exercisable presently or in the futureand
whether on the fulfilment of a condition or not; or(d)is entitled (otherwise than by reason
of his or her having beenappointedaproxyorrepresentativetovoteatameetingofmembersofacorporationorofaclassofitsmembers)toexercise or control the exercise of a
right attached to a share, notbeing a share of
which the person is the registered holder;that person shall
be deemed to have an interest in that share.
s98s9Gas
Suppliers (Shareholdings) Act 1972(6)A
person shall not be deemed not to have an interest in a share
byreason only that the person has the interest
in the share jointly with anotherperson.(7)It is immaterial, for the purpose of
determining whether a person hasan interest in a
share, that the interest cannot be related to a particular
share.(8)There shall be disregarded—(a)an interest in a share if the interest
is that of a person who holdsthe share as a
bare trustee; and(b)aninterestinashareofapersonwhoseordinarybusinessincludes the
lending of money if the person has the interest onlyby
way of security for the purposes of a transaction entered
intoin the ordinary course of business in
connection with the lendingof money;
and(c)an interest of a person in a share
that is an interest that the personhas by reason of
his or her holding a prescribed office; and(d)a
prescribed interest in a share that is an interest of such
person,or of persons included in such class of
persons, as is prescribed.(9)An interest in a
share shall not be disregarded by reason only of—(a)its remoteness; or(b)the
manner in which it arose; or(c)the
fact that the exercise of a right conferred by the interest is,
oris capable of being made, subject to
restraint or restriction.˙Associated
shareholders9.(1)The following
subsections have effect for the purposes of this Act.(2)Where a person is to be deemed to be
an associate of another person,in accordance
with subsection (3) or (4), the firstmentioned person shall
bedeemed to have an interest in any share in
which that other person has aninterest.(3)For the purposes of subsection (2), a
person shall be deemed to be anassociate of
another person—(a)if the firstmentioned person
is—
s
109s 10Gas Suppliers
(Shareholdings) Act 1972(i)a person in
accordance with whose directions, instructions orwishesthatotherpersonisaccustomed,orunderanobligation, whether formal or informal, to
act in relation tothe share referred to in that subsection;
or(ii)a partner of
that other person; or(iii)acorporationandthatotherpersonisanofficerofthatcorporation;
or(iv)a corporation
and that other person, whether a corporation ornot, is in a
position to control that corporation; or(v)a
corporation, and that other person is also a corporation,
anda person, whether a corporation or not, is
in a position tocontrol each of those corporations;
or(b)if the firstmentioned person and that
other person are members ofa voting trust
and the trust relates to shares of the gas supplierconcerned.(4)Where, by reason of subsection (3), a person
is to be deemed to be anassociateofanotherperson,thatotherpersonshall,forthepurposesofsubsection (2), be deemed to be an
associate of the firstmentioned person.†PART
2—LIMITATION OF SHAREHOLDINGS INGAS
SUPPLIERS˙Restricted shareholdings10.A person shall not have an interest in
1 or more voting shares in agas supplier to
which this Act applies unless the nominal value of that
shareor the aggregate of the nominal value of
those shares, as the case may be, isnot in excess of
12.5% of the aggregate of the nominal value of all thevoting shares in the gas supplier.Maximumpenalty—$200foreachdayduringwhichthecontraventionsubsists.
s
1110s 11Gas Suppliers
(Shareholdings) Act 1972˙Power of court
with respect to shareholdings11.(1)Where a person (in this section and in
section 12 referred to as“the shareholder”) has
contravened section 10 the Supreme Court may,ontheapplicationofthepersonwho,atthematerialtime,holdstheappointment chief gas examiner under
theGasAct1965,
whether or notother proceedings have been commenced in
respect of the contravention,make 1 or more of
the following orders—(a)anorderrestrainingtheexerciseofanyvotingorotherrightattached to any share in the gas supplier
concerned in which theshareholder has an interest;(b)anorderdirectingthegassupplierconcernednottomakepayment,ortodeferpayment,ofanysumduefromthegassupplier in respect of any share in
the gas supplier in which theshareholder has
an interest;(c)an order directing the sale of all or
any of the shares in the gassupplierconcernedinwhichtheshareholderhasaninterestincontravention of section 10;(d)an order that any exercise of the
voting or other rights attached tothe shares
(specified in the order) in the gas supplier concerned inwhich the shareholder has or had an interest
be disregarded;(e)forthepurposeofsecuringcompliancewithanyotherordermadeunderthissection,anorderdirectingthegassupplierconcerned or any other person to do or
refrain from doing an actspecified in the order.(2)An order made under subsection (1) may
include such ancillary orconsequential provisions as the court
thinks just.(3)The court shall not make an order
under subsection (1), other than anorder restraining
the exercise of voting rights, if it is satisfied—(a)that the contravention by the
shareholders of section 10 was dueto the
shareholder’s inadvertence or mistake or to his or her notbeing aware of a fact or occurrence the
existence of which wasnecessary to constitute that
contravention; and(b)that, in all the circumstances, the
failure ought to be excused.
s
1211s 14Gas Suppliers
(Shareholdings) Act 1972(4)The Supreme
Court may, by its order, rescind, vary or discharge anorder
made under subsection (1) or suspend the operation of such an
order.˙Order as to costs of discontinued
application12.Where an application made under
section 11 is not proceeded with byreason of the
discontinuance of the contravention to which it relates theSupreme Court may, on the further application
of the applicant, order thatthe shareholder
pay the applicant’s costs of the application and the furtherapplication.˙Compliance with orders made13.(1)Apersonshallnotcontraveneorfailtocomplywithanordermade under
section 11 or 12 that is applicable to the person.Maximum penalty—$1 000.(2)The
provisions of subsection (1) or any action taken thereunder
doesnot affect the powers of the Supreme Court in
relation to the punishment ofcontempts of the
court.†PART 3—LIMITATION OF VOTING
RIGHTS˙Voting rights restricted14.It is not competent to a person who is
entitled to exercise, in relationto the affairs of
a gas supplier to which this Act applies, a right to vote
thatattachestoaninterestinavotingshareinthegassupplier,heldbytheperson or by
another, to exercise or to authorise or permit the exercise
ofthat right to the extent that the person’s
voting rights—(a)wheretherighttovoteisonethatattachestovotingsharesgenerally in the gas supplier, exceed in the
aggregate 5% of thevoting rights that attach to all the voting
shares in the gas supplier;(b)where the right to vote is one that attaches
to voting shares of aparticular class in the gas supplier,
exceed in the aggregate 5% of
s
1512s 16Gas Suppliers
(Shareholdings) Act 1972the voting rights that attach to all
the voting shares of that class inthe gas
supplier.˙Incompetent voting to be
disregarded15.(1)A vote of any
person in relation to the affairs of a gas supplier towhichthisActappliesshallbedisregardedtotheextentthatitisincompetent by
reason of section 14 or in so far as it is cast pursuant to
apurportedauthorityorpermissionthatisincompetentbyreasonofthatsection.(2)A director, employee, or agent of a
gas supplier to which this Actapplies who fails
to comply with subsection (1) commits an offence againstthis
Act.˙Power of court with respect to
voting16.(1)Where it appears
that in the taking of any ballot or election inrelation to the
affairs of a gas supplier to which this Act applies a failure
tocomplywithsection15hasoccurredtheSupremeCourtmay,ontheapplication of the person who, at the
material time, holds the appointmentchiefgasexaminerundertheGasAct1965,whetherornototherproceedingshavebeencommencedinrespectofthefailure,make1ormore of the
following orders—(a)an order restraining the exercise of
voting rights attached to anyvoting shares in
the gas supplier concerned;(b)anorderthatanyexerciseofthevotingrightsattachedtothevotingshares(specifiedintheorder)inthegassupplierconcerned be disregarded;(c)forthepurposeofsecuringcompliancewithanyotherordermadeunderthissection,anorderdirectingthegassupplierconcerned or any other person to do or
refrain from doing an actspecified in the order.(2)An order made under subsection (1) may
include such ancillary orconsequential provisions as the court
thinks just.(3)The Supreme Court may, by its order,
rescind, vary or discharge anorder made under
subsection (1) or suspend the operation of such an
order.
s
1713s 19Gas Suppliers
(Shareholdings) Act 1972˙Order as to costs
of discontinued application17.Where an
application made under section 16 is not proceeded with byreason that compliance with section 15 has
been secured the Supreme Courtmay, on the
further application of the applicant, order that the person
whohadfailedtocomplywiththatsectionpaytheapplicant’scostsoftheapplication and
the further application.˙Compliance with
orders made18.(1)Apersonshallnotcontraveneorfailtocomplywithanordermade under
section 16 or 17 that is applicable to the person.Maximum penalty—$1 000.(2)The
provisions of subsection (1) or any action taken thereunder
doesnot affect the powers of the Supreme Court in
relation to the punishment ofcontempts of the
court.†PART 4—REGULATION OF GOVERNING
BODIES˙Inquiry into affairs of gas
suppliers19.(1)Where it appears
to the Minister that a gas supplier to which thisActappliesissoconductingitsbusinessofproducingorsupplyinggaswithin any area of the State, or is so
limiting that business that an inquiryinto the affairs
of the gas supplier, so far as they relate to that business,shouldbemadeunderthispart,theMinistermayrecommendtotheGovernorinCouncilthatsuchinquirybemadeandthatatribunalbeconstituted to make that inquiry.(2)Upon receipt of a recommendation
referred to in subsection (1) theGovernor in
Council may, by notification published in the gazette,
appointthe persons who shall comprise the tribunal,
and, if the case requires it, mayparticularise in
the notification of appointment the aspects or matters intowhich
the inquiry is to be made.(2A)The tribunal
shall consist of a chairperson who shall be a judge ofthe
the Supreme Court or, if 1 such judge is not available at the
material
s
2014s 20Gas Suppliers
(Shareholdings) Act 1972time, a person qualified for
appointment as a judge of the Supreme Court,and 2 other
members.(3)The function of a tribunal appointed
under this section shall be—(a)to
inquire into the affairs of the gas supplier concerned so far
asthose affairs relate to its business of
producing or supplying gaswithin the area in question of the
State, or as the case may require,into the aspects
of those affairs or the matters particularised in thenotification of appointment of the
tribunal;(b)to report to the Minister its opinions
in relation to the affairs of thegas supplier or
the aspects thereof or the matters inquired into bythe
tribunal together with its findings of fact on which its
opinionsare based.(4)Atribunalappointedunderthissectionshallbedeemedtobeacommission of
inquiry under theCommissions of Inquiry Act 1950and
itsmembers shall be deemed to be commissioners
within the meaning of thatAct the provisions whereof shall apply
accordingly.˙Powers of investigator20.For the purpose of assisting an
inquiry under this part the chief gasexaminerandanypersonorpersonswhoassistthechiefgasexaminertherein
may—(a)enteruponthepremisesofthegassupplierwhetherwithinoroutside the area of the State
concerned;(b)inspect, examine and test all works,
plant and equipment used bythe gas supplier
in or in connection with its business of producingor
supplying gas;(c)observeandinvestigatetheconductofthebusinessofthegassupplier in or
in connection with producing or supplying gas andthe
practice in relation thereto of the gas supplier, its
employeesand agents;(d)callfor,examine,impound,copy,andtakeextractsfromtheshare register of the gas supplier, the
minutes of meetings of theboard of directors or other governing
body (by whatever namecalled) of the gas supplier, and the
books, accounts and records of
s
2115s 22Gas Suppliers
(Shareholdings) Act 1972the gas supplier relevant to its
business of producing or supplyinggas;(e)audit the books and accounts of the
gas supplier relevant to itsbusiness of
producing or supplying gas, either generally or withrespect to a particular part of that
business;(f)require any director, employee, or
agent of the gas supplier, andanyotherpersonwho,inthechiefgasexaminer’sopinion,shouldhaveinformationonthematterinquestion,tofurnishinformationonsuchmattersas,intheopinionofthepersonseeking the
information, are material to the investigation.˙Hindrance of investigation an offence21.(1)A person shall
not—(a)obstruct or hinder the chief gas
examiner, or any person assistingthe chief gas
examiner therein in the making of an investigationunder this part;(b)failtocomplywitharequisitiondirectedtothepersoninconnection with the making of an
investigation under this part.Maximum
penalty—$1 000.(2)Itisadefencetoachargeofanoffencethatconsistsofacontravention of subsection (1)(b) to
show that, at the material time, thedefendant had
neither the information sought nor means of ascertaining
thatinformation.˙Action
consequent on investigation22.Upon receipt of
the report of a tribunal appointed under section 19, ifthe
Minister is satisfied that in the conduct of its business of
producing orsupplying gas within any area of the State or
in limiting the extent of anysuch business,
the gas supplier whose affairs have been inquired into underthis
part—(a)doesnotadequatelyservetheinterestsofconsumersofgaswithin that area or the interests of
persons resident in that areawho are
prospective consumers of gas within that area; or
s
2316s 23Gas Suppliers
(Shareholdings) Act 1972(b)does not have
sufficient regard for the economic welfare or thedevelopmentoftheStateorfortheproperuseofitsnaturalresources;the Minister may
recommend to the Governor in Council that action undersection 23 be taken in respect of the gas
supplier.˙Appointment of administrators23.(1)On the
recommendation of the Minister, the Governor in Councilmay,
by order in council, appoint 1 or more persons (as the Governor
inCouncil thinks fit) to be administrator or
administrators of a gas supplier inrespect of which
an investigation has been made under this part.(2)Upon
the appointment of an administrator or administrators—(a)the appointee or appointees shall be
deemed to be the director ordirectors of the
gas supplier concerned in relation to the businessof
producing and supplying or supplying, as the case may be,
gaswithintheareaoftheStatewithwhichtheinvestigationwasconcerned,andshallbechargedwiththemanagementofthatbusinessandshallhaveandbesubjecttoallthepowers,authorities,
duties and responsibilities accorded or entrusted bythe
articles of association of the gas supplier and by law to
thedirectors of the gas supplier, save in
respect of any liability thatmay attach to a
director arising out of any act done or omissionmade
by the director prior to the date of the appointment;(b)the persons who at the time of the
appointment are directors ofthe gas supplier
concerned or who are subsequently to that timedulyappointedassuchdirectorsshallbedeemed,duringthecontinuance of the administration of
the gas supplier under thissection to be
deprived of and to be free of the powers, authorities,duties and responsibilities accorded or
entrusted by the articles ofassociation of
the gas supplier and by law to such directors inrelation to the business of producing and
supplying or supplying,as the case may be, gas within the
area of the State with which theinvestigation
was concerned, save in respect of any liability thatmay
attach to them or any of them arising out of any act done oromission made by a director prior to the
date of the appointment;(c)allemployees,agents,andotherpersonsassociatedwiththe
s
2317s 23Gas Suppliers
(Shareholdings) Act 1972business of the gas supplier shall
accept and act upon the demandoftheappointeeorappointeesinrelationtothebusinessofproducing and supplying or supplying, as the
case may be, gaswithintheareaoftheStatewithwhichtheinvestigationwasconcerned as if he, she or they, as the case
may be, were dulyappointed director or directors of the gas
supplier in accordancewith the articles of association and
rules of the gas supplier;(d)theappointeeorappointeesshallbeentitledtoandshallbepermitted by all persons the use and
management of the fundsand assets of the gas supplier
available for use in the business ofproducing and
supplying or supplying, as the case may be, gaswithintheareaoftheStatewithwhichtheinvestigationwasconcerned;(e)theappointeeorappointeesshallbeentitledtoandshallbepermitted by all persons entry upon the
premises used by the gassupplier in or in connection with the
business in relation to whichtheappointeeisappointedadministratorortheyareappointedadministrators,andshallbeentitledtoandshallbepermittedunrestrictedaccesstoandpossessionofallbooksofaccount,documents and
records material to that business;(f)a
contract or agreement or transaction, made or entered into
priortothedateoftheappointment,intheconductoforforthepurposesofthebusinessofproducingandsupplyingorsupplying, as the case may be, gas within
the area of the Statewithwhichtheinvestigationwasconcernedshallnotbeenforceableagainstthegassupplierconcernedunlessitisconfirmed and
adopted, in writing or by conduct, by the appointeeor
appointees.(3)An appointment under this section may
be made—(a)without limit of time, whereupon an
appointee for the time beingappointed shall
hold office until the appointee is removed by theGovernor in Council or until the order in
council whereby he orshe was appointed is revoked,
whichever event first occurs; or(b)to
take effect until the expiration of a period specified in the
orderin council, whereupon an appointee for the
time being appointedshall hold office until the appointee
is removed by the Governor
s
2418s 25Gas Suppliers
(Shareholdings) Act 1972inCounciloruntiltheexpirationoftheperiodspecified,whichever event
first occurs.˙Removal of administrator24.(1)TheGovernorinCouncilmayatanytimebyorderincouncilremovefromofficeanadministratorofagassupplierappointedundersection 23 and, if the Governor in Council
thinks fit, appoint another orothers in the
administrator’s stead.(2)The removal of
an administrator shall not affect the administrator’sliability arising out of any act done or
omission made by the administratorprior to the date
of his or her removal.˙Cessation of
administration under s 2325.(1)Whenatanytimeduringtheadministrationofagassupplierunder
section 23 the tenure of office of the administrator (where there
isonly 1) of the gas supplier or of all of the
administrators (where there aremorethan1)ofthegassupplierisbroughttoanendbyanymeansspecified in
section 23(3) and a further administrator is not appointed in
hisor her or their stead, the administration
shall be taken to be terminated.(2)Upon
the termination of an administration of a gas supplier undersection 23 the management of the business
theretofore under the charge ofthe administrator
or administrators shall revert to the charge of the
directorsof the gas supplier at that time duly
appointed in accordance with the articlesofassociationandrulesofthegassupplierandwiththisActandsuchdirectors shall have and be subject to the
powers, authorities, duties andresponsibilities
accorded or entrusted by the articles of association of the
gassupplier and by law to such directors save in
respect of any liability thatmayattachtotheadministratorarisingoutofanyactdoneoromissionmade by an
administrator prior to the termination of the
administration.(3)Whenitappearstotheadministratororadministratorsofagassupplier that the
administration under section 23 is about to be terminatedand
that there are no directors of the gas supplier duly appointed as
specifiedin subsection (2) the administrator or
administrators shall cause to be calleda general meeting
of the members of the gas supplier for the purpose of
s
2619s 28Gas Suppliers
(Shareholdings) Act 1972appointing such directors in accordance
with the articles of association andrules of the gas
supplier and with this Act.˙Effect
of removal etc. of administrator26.Upon
the removal of an administrator for the time being appointedunder
section 23 or upon the revocation of the order in council whereby
theadministrator was appointed or upon the
expiration of the period for whichthe
administrator’s appointment was made to take effect, whichever
event isthefirsttooccur,theadministratorshallceasetoholdthestatusofadministratorandshallceasetohaveandtobesubjecttothepowers,authorities, duties, and responsibilities
accorded or entrusted by the articlesof association of
the gas supplier and by law to the directors of the gassupplier, save in respect of any liability
that may attach to the administratorarising out of
any act done or omission made by him or her prior to the
dateof such cessation.†PART
5—MISCELLANEOUS˙Contracts etc. not affected save at the
suit of offender27.A contract, instrument, dealing or
transaction affecting shares of agas supplier to
which this Act applies is unenforceable at the suit of or
forthe benefit of a person who, by means of such
contract, instrument, dealingor transaction,
has contravened this Act but otherwise is not unenforceable,voidable or void by reason only that by
reason of the contract, instrument,dealing or
transaction having been entered into or having occurred, a
personhas committed a contravention of this
Act.˙Proceedings for offences28.(1)A person who
contravenes or fails to comply with any provisionof
this Act commits an offence against this Act.(1A)Save
where a penalty is otherwise specifically prescribed a
personwho commits an offence against this Act is
liable to a penalty of $1 000.
s
2920s 29Gas Suppliers
(Shareholdings) Act 1972(2)AprosecutionforanoffenceagainstthisActshallbebywayofsummary proceeding under theJustices Act 1886.(3)A prosecution for an offence against
this Act shall not be broughtsave with the
approval of the Minister first had and obtained.(4)Every court shall take judicial notice
of the signature of the Ministertoadocumentthatpurportstobeanapprovalofaprosecutionforanoffence against this Act.˙Regulations may be made29.TheGovernorinCouncilmaymakeregulations,notinconsistentwiththisAct,prescribingallmattersthatbythisActarerequiredorpermitted to be prescribed, or are necessary
or convenient to be prescribedfor carrying out
or giving effect to this Act and in particular prescribingpowers, authorities, duties and
responsibilities of administrators of a gassupplierandofany1ormoreofsuchadministratorsandmattersofprocedure material to the conduct by such
administrators of their affairs.
22Gas Suppliers (Shareholdings) Act
19723´AIAamdchdefdivexpgazhdginslapnotfdomo in cpparaprecpresprev==================KeyKey
to abbreviations in list of legislation and annotationsActs
Interpretation Act 1954amendedchapterdefinitiondivisionexpires/expiredgazetteheadinginsertedlapsednotifiedomittedorder in
councilpageparagraphprecedingpresentprevious(prev)procprovptpubdR[X]RArelocrenumrepsschsdivSIASLsubunnum=================previouslyproclamationprovisionpartpublishedReprint
No.[X]Reprints Act 1992relocatedrenumberedrepealedsectionschedulesubdivisionStatutory
Instruments Act 1992subordinate legislationsubstitutedunnumbered´4List of
legislationGas Suppliers (Shareholdings) Act 1972 No.
33date of assent 21 December 1972commenced 20 December 1971 (proc pubd gaz 20
January 1973 p 232)´5List of
annotationsCommencements 2om R1
(see RA s 37)Arrangement of Acts 5om R1
(see RA s 36)Interpretations 6def“Minister”om R1 (see RA s
39)´6Table of
obsolete and redundant provisionsTABLE OF OBSOLETE
AND REDUNDANT PROVISIONSunder the Reprints Act 1992 s
39Omitted provisionProvision making
omittedprovision obsolete/redundant
