Government Owned Corporations (Queensland Rail) Regulation 1995
GOVERNMENT OWNED CORPORATIONS (QUEENSLAND RAIL) REGULATION
1995
QueenslandGovernment Owned
Corporations Act 1993GOVERNMENTOWNEDCORPORATIONS(QUEENSLANDRAIL)REGULATION1995Reprinted as in force on 10 April
2000(includes amendments up to SL No. 46 of
2000)Reprint No. 2A *This reprint is
prepared bythe Office of the Queensland Parliamentary
CounselWarning—This reprint is not an authorised
copyNOT FURTHER AMENDEDLAST REPRINT
BEFORE REPEALSee 2004 SL No. 166 s 44*Minor
differences in style between this reprint and another reprint with
the same number are due to theconversion to
another software program. The content has not changed.
Information about this reprintThis
regulation is reprinted as at 10 April 2000.The reprint shows
the law as amended byall amendments that commenced on or
before that day (Reprints Act 1992 s 5(c)).The reprint
includes a reference to the law by which each amendment was
made—see listof legislation and list of annotations in
endnotes.Minor editorial changes allowed under the
provisions of the Reprints Act 1992 have alsobeen made to use
aspects of format and printing style consistent with current
draftingpractice (s 35).This page is
specific to this reprint.See previous reprints for information
about earlierchanges made under the Reprints Act
1992.A table of earlier reprints is included in
theendnotes.Also see endnotes
for information about—•when provisions
commenced•editorial changes made in earlier
reprints.
s13s3Government Owned Corporations (Queensland
Rail)Regulation 1995GOVERNMENT OWNED
CORPORATIONS(QUEENSLAND RAIL) REGULATION 1995[as
amended by all amendments that commenced on or before 10 April
2000]PART 1—PRELIMINARY1Short
titleThis regulation may be cited as theGovernmentOwnedCorporations(Queensland Rail)
Regulation 1995.2Commencement(1)Sections 3, 4 and 5 and part 2 (other than
section 9) commence on8 June 1995.(2)Section 9 and part 3 commence on 30 June
1995.(3)Parts 4 to 6 commence on 1 July
1995.(4)Part 7 commences on 2 July
1995.3Purpose of this regulationThe
purpose of this regulation is—(a)toestablishanassociateofthecandidateGOCQueenslandRailways;
and(b)todivesttheassetsfrom,andreleasetheliabilitiesof,thecandidate GOC; and(c)toprovideforatransitionfromthecandidateGOCtoitsassociate,includingtransferringtheofficersandemployeesofthe
candidate GOC to its associate; and(d)to
transfer the assets (other than existing rail corridor land
dealtwith under the transport infrastructure
transitional provision) andliabilities of the candidate GOC to
its associate; and
s44s6Government Owned Corporations (Queensland
Rail)Regulation 1995(e)to
make provision for the associate to assume certain
additionalliabilities; and(f)to
make the associate a GOC; and(g)to
dissolve the candidate GOC.4Operation of this
regulation is subject to transport infrastructuretransitional provisionThe operation of
parts 3 and 5 is limited to the extent necessary to allowthe
transport infrastructure transitional provision to have full effect
when itcommences.Example—Under
this regulation assets of Queensland Railways are divested from it
and becomethe assets of Queensland Rail. However, the
transport infrastructure transitional provision,which
commences on the day Queensland Rail becomes a GOC, makes specific
provisionabout certain land held by Queensland
Railways, described as existing rail corridor land.The
operation of this regulation is not intended to interfere with the
operation of thatprovision.5DefinitionIn this
regulation—“transport infrastructure transitional
provision”means theTransportInfrastructure Act 1994, section
214.1PART 2—QUEENSLAND RAIL IS ESTABLISHED
ANDNOMINATED AS A CANDIDATE GOC
ASSOCIATE6Establishment of GOC Act entityThe
entity Queensland Rail is established.1Transport Infrastructure Act 1994,
section 214 (Existing rail corridor land)
s
75s 10Government Owned
Corporations (Queensland Rail)Regulation
19957Nomination of Queensland Rail to
become candidate GOCassociateQueenslandRailisnominatedtobetheassociateofQueenslandRailways.8Status of Queensland RailQueensland Rail—(a)is a
body corporate; and(b)has the name under which it is
established; and(c)has a seal; and(d)may
sue and be sued in its corporate name; and(e)before 1 July 1995, has no powers or
functions.9Share capitalQueenslandRailistakentohaveasharecapitalof$10000 000
000made up of 10 000 000 000 ordinary shares of
$1 each.PART 3—QUEENSLAND RAILWAYS IS DIVESTED
OFASSETS AND RELEASED FROM LIABILITIES10Assets and liabilities of Queensland
Railways(1)This section takes effect immediately
after 30 June 1995.(2)Queensland Railways is divested of all
its assets and released fromall its
liabilities.
s
116s 12Government Owned
Corporations (Queensland Rail)Regulation
1995PART 4—TRANSITION FROM QUEENSLANDRAILWAYS TO QUEENSLAND RAILDivision 1—Status of Queensland Rail11Status of Queensland RailQueenslandRail2hasthefunctionsgivenundertheTransportInfrastructure
Act 1994, section 187A.3Division 2—Staff12Officers and employees of Queensland
Railways(1)A person who, immediately before 1
July 1995, was an officer oremployeeofQueenslandRailwaysbecomesanofficeroremployeeofQueensland Rail.(2)Until
the rights of the officer or employee are changed, the officer
oremployeecontinuestobeentitledtoallexistingandaccruingrightsofemployment.(3)To
the extent that a right mentioned in subsection (2) is preserved
bysection 1744of
the Act, subsection (2) has no effect.(4)If an
officer or employee was suspended by Queensland Railwaysbefore
1 July 1995, the suspension continues, and must be dealt with
byQueensland Rail.2Thissectionisincludedforinformationonly.OnbecomingastatutoryGOCQueensland Rail will also have the general
powers set out in theGovernment OwnedCorporations Act
1993,section 149 (General powers of statutory
GOCs). However,astatutoryGOC’spowersaresubjecttotherestrictionsmentionedintheGovernment Owned
Corporations Act 1993, section 150 (Restrictions on powers
ofstatutory GOCs).3Transport Infrastructure Act 1994,
section 187A (Function)4Section174(Preservationofleaveentitlementsofcertainformerofficersandemployees of government entities) of the
Act
s
137s 15Government Owned
Corporations (Queensland Rail)Regulation
1995(5)AnofficeroremployeewhoisliabletodisciplinaryactionbyQueenslandRailwaysimmediatelybefore1July1995continuestobeliable to disciplinary action by
Queensland Rail.(6)AdisciplineimposedonanofficeroremployeeofQueenslandRailwaysthatisnotfinishedbefore1July1995maycontinuetobeimposed by Queensland Rail.13Equivalent positionsApersonwhounderthisdivisionbecomesanofficeroremployeeofQueensland Rail becomes the holder of a
position equivalent to the positionthe person held in
Queensland Railways.Example—A person who
immediately before 1 July 1995 was the chief executive of
QueenslandRailways becomes the holder of the office of
chief executive officer of Queensland Rail.Division
3—General14Queensland Rail is successor of
Queensland Railways(1)Queensland Rail is the successor in
law of Queensland Railways.(2)The other
provisions of this division do not limit subsection (1).15Instruments(1)Thissectionappliestoaninstrument(otherthanastatutoryinstrument) in
existence immediately before 1 July 1995.(2)AninstrumentapplyingtoQueenslandRailwaysistoapplytoQueensland Rail in place of Queensland
Railways.(3)Without limiting subsection
(2)—(a)aninstrumenttowhich,immediatelybefore1July1995,Queensland Railways was a party is taken to
be an instrument towhich Queensland Rail is a party; and(b)an instrument given to, by or in
favour of Queensland Railways istaken to be an
instrument given to, by or in favour of QueenslandRail;
and
s
168s 18Government Owned
Corporations (Queensland Rail)Regulation
1995(c)aninstrumentinwhichareferenceismadetoQueenslandRailways(including,forexample,aninstrumenttowhichQueensland
Railways was a party) is taken to be an instrument inwhich
the reference is made to Queensland Rail; and(d)an
instrument under which money is or may become payable, orother
property is to be, or may become liable to be, transferred,conveyed or assigned to or by Queensland
Railways is taken tobeaninstrumentunderwhichthemoneyisormaybecomepayable, or the other property is to be, or
may become liable tobe, transferred, conveyed or assigned to or
by Queensland Rail.16Pending legal proceedings by or
against Queensland RailwaysAlegalproceedingbyoragainstQueenslandRailwaysthatisnotfinished before 1
July 1995 may be continued and finished by or againstQueensland Rail.PART 5—ASSETS AND
LIABILITIES TRANSFERREDTO QUEENSLAND RAIL17Transfer of assets to Queensland RailThe
assets mentioned in section 105become the assets of QueenslandRail.18Consideration for
transfer of assets to Queensland Rail(1)The
liabilities mentioned in section 10 are assumed by
QueenslandRail.(2)The assumption by
Queensland Rail of the liabilities of QueenslandRailwaysispartoftheconsiderationforthetransferoftheassetsofQueensland Railways to Queensland
Rail.5Section 10 (Assets and liabilities of
Queensland Railways)
s
189s 18Government Owned
Corporations (Queensland Rail)Regulation
1995(3)The remainder of the consideration is
the creation of a debt owed byQueensland Rail to
the shareholding Ministers of the GOC that QueenslandRail
becomes under this regulation.(4)The
amount of the debt is the market value, at 1 July 1995, of
theassets transferred to Queensland Rail, less
the amount, at 1 July 1995, ofthe liabilities
assumed by Queensland Rail.Example of
calculation of debt owed to shareholding Ministers—If
the market value of the assets vested in Queensland Rail is $1 000
000 000, and theliabilities assumed by it amount to $400 000
000, the shareholding Ministers are owed adebt of $600 000
000.(5)For subsection (4)—(a)themarketvalue,at1July1995,ofanassettransferredtoQueenslandRailis,unlessanothervaluationisdecidedundersubsection (7),takentobethemarketvaluespecifiedfortheasset in the asset schedule of
Queensland Rail for 1 July 1995;and(b)theamount,at1July1995,oftheliabilitiesassumedbyQueenslandRailis,unlessanotheramountisdecidedundersubsection (7), taken to be the amount of
the liabilities listed inthe balance sheet of Queensland Rail
for 1 July 1995.(6)Assoonaspracticableafterthecommencementofthissection,QueenslandRailmustcompletetheassetschedulementionedinsubsection (5)(a) and the balance sheet
mentioned in subsection (5)(b).(7)TheshareholdingMinistersoftheGOCthatQueenslandRailbecomes under this regulation may change the
asset schedule mentioned insubsection (5)(a) or the balance sheet
mentioned in subsection (5)(b) at anytime before 4
September 1996 to correct the market value of an asset or
theamount of a liability as at 1 July
1995.(8)A change mentioned in subsection (7)
must be taken into account forcalculating the
debt amount under subsection (4).
s
1910s 21Government Owned
Corporations (Queensland Rail)Regulation
1995PART 6—QUEENSLAND RAIL BECOMES
STATUTORYGOC19Declaration of
Queensland Rail as GOC(1)Subsection(2)takeseffectassoonastheassetsandliabilitiesofQueensland Railways become the assets and
liabilities of Queensland Railunder sections 17
and 18.6(2)Queensland Rail
is a GOC.PART 7—QUEENSLAND RAILWAYS IS
DISSOLVED20Dissolution of Queensland
Railways(1)Queensland Railways is dissolved and
the directors constituting theQueensland
Railways Board go out of office.(2)Queensland Rail must prepare—(a)the final accounts of Queensland
Railways; and(b)all reports about Queensland Railways
for the period 1 July 1994to the commencement of this section
that are required under anyAct.PART 8—STATE TAX
EXEMPTION21Exemption from payment of land
taxQueenslandRailisexemptedfromliabilitytopaylandtaxundertheLandTaxAct1915forthefinancialyears1996/1997,1997/1998,1998/1999, 1999/2000 and 2000/2001.6Sections17(TransferofassetstoQueenslandRail)and18(Considerationfortransfer of assets to Queensland
Rail)
s
2211s 22Government Owned
Corporations (Queensland Rail)Regulation
1995PART 9—ISSUE OF FURTHER SHARES22Queensland Rail shares(1)Under section 9,7Queensland Rail is taken to have a share
capital of$10 000 000 000, made up of 10 000 000 000
ordinary shares of $1 each.(2)Under section
588of the Act, 2 of the shares have been
issued.9(3)QueenslandRailmustissueafurther40 220 000oftheshareson30 June 1996.(4)Queensland Rail must issue another 2 164 039
784 of the shares assoon as it is practicable to issue the
shares.(5)Shares issued under subsection (4) are
taken to have been issued on30 June
1996.(6)Queensland Rail must issue another 12
800 000 of the shares as soonas it is
practicable to issue the shares.(7)Shares issued under subsection (6) are taken
to have been issued on30 June 1997.(8)On29March2000,300 000
000ofthesharesissuedundersubsection (4) are cancelled.7Section 9 (Share capital)8Section 58 (Share capital and issue of
shares) of the Act9Under the Act, each of Queensland
Rail’s 2 shareholding Ministers holds an equalnumber of the
issued shares (see sections 71 to 74 of the Act).
13Government Owned Corporations
(Queensland Rail)Regulation 19954Table of earlier reprintsTABLE
OF EARLIER REPRINTS[If a reprint number includes a roman
letter, the reprint was released in unauthorised,electronic form only.]Reprint
No.11A1B2Amendments includednoneto SL No. 250 of 1996to SL
No. 339 of 1997to SL No. 32 of 1999Reprint
date7 July 199530 September
199616 July 19981 April
19995List of legislationGovernment Owned Corporations (Queensland
Rail) Regulation 1995 SL No. 162made by the
Governor in Council on 8 June 1995notfd gaz 8 June
1995 pp 1085–6ss 3–8 commenced 8 June 1995 (see s
2(1))ss 9–10 commenced 30 June 1995 (see s
2(2))ss 11–19 commenced 1 July 1995 (see s
2(3))s 20 commenced 2 July 1995 (see s
2(4))remaining provisions commenced on date of
notificationexp 1 September 2005 (see SIA s 54)as
amended by—Government Owned Corporations (Queensland
Rail) Amendment Regulation (No. 1)1996 SL No.
147notfd gaz 28 June 1996 pp 1164–70commenced on date of notificationGovernment Owned Corporations (Queensland
Rail) Amendment Regulation (No. 2)1996 SL No.
250notfd gaz 27 September 1996 pp 347–9commenced on date of notificationGovernment Owned Corporations (Queensland
Rail) Amendment Regulation (No. 1)1997 SL No.
339notfd gaz 17 October 1997 pp 671–3commenced on date of notificationGovernment Owned Corporations Legislation
Amendment Regulation (No. 1) 1999SL No. 32 ss
1–2(1) pt 4notfd gaz 26 March 1999 pp 1450–53ss
1–2 commenced on date of notificationremaining
provisions commenced 31 March 1999 (see s 2(1))
